OC426938falsethat of an independent fabric, wool and haberdashery shop2023-08-012024-03-31http://www.companieshouse.gov.uk/2023-07-31http://www.companieshouse.gov.uk/cd:Director12023-08-012024-03-31http://www.companieshouse.gov.uk/cd:Director22023-08-012024-03-31http://www.companieshouse.gov.uk/cd:LimitedLiabilityPartnershipLLP2023-08-012024-03-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2023-07-31http://www.companieshouse.gov.uk/pt:FurnitureFittings2024-03-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-08-012024-03-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-08-012024-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-03-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-07-31http://www.companieshouse.gov.uk/2023-08-012024-03-31http://www.companieshouse.gov.uk/2023-07-31http://www.companieshouse.gov.uk/cd:FRS1022023-08-012024-03-31http://www.companieshouse.gov.uk/2024-03-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-08-012024-03-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: OC426938

Stitch and Knit LLP

ACCOUNTS
FOR THE 244 DAY PERIOD ENDED 31 MARCH 2024

Prepared By:
Munro's
Chartered Accountants
1341 High Road
Whetstone
London
N20 9HR

Stitch and Knit LLP

CONTENTS
Page
Report of the Members-
Report of the Accountants-
Profit and Loss Account-
Balance Sheet3
Notes to the Accounts5
The following do not form part of the statutory financial statements:
Trading and Profit and Loss Account-
Profit and Loss Account Summaries-
Capital Accounts-
Current Accounts-

Stitch and Knit LLP

ACCOUNTS
FOR THE 244 DAY PERIOD ENDED 31 MARCH 2024
DESIGNATED MEMBERS
J M Dudrenec
C H F Smith
REGISTERED OFFICE
1341 High Road
Whetstone
London
N20 9HR
COMPANY NUMBER
OC426938
ACCOUNTANTS
Munro's
Chartered Accountants
1341 High Road
Whetstone
London
N20 9HR

Stitch and Knit LLP

BALANCE SHEET AT 31 March 2024
20242023
Notes££
FIXED ASSETS
Tangible assets22,8233,388
CURRENT ASSETS
Stock1c72,60074,900
Debtors38,5937,726
Cash at bank and in hand9,0874,960
90,28087,586
CREDITORS: Amounts falling due within one year4,1664,717
NET CURRENT ASSETS86,11482,869
NET ASSETS ATTRIBUTABLE TO MEMBERS88,93786,257
LOANS AND OTHER DEBTS DUE TO MEMBERS88,93786,257
MEMBERS ' OTHER INTERESTS
88,93786,257
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members88,93786,257
88,93786,257

Stitch and Knit LLP

BALANCE SHEET AT 31 March 2024
For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the members on 23 August 2024 and signed on their behalf by
.............................
J M Dudrenec
Designated Member
.............................
C H F Smith
Designated Member

Stitch and Knit LLP

NOTES TO THE ACCOUNTS
FOR THE 244 DAY PERIOD ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

Stitch and Knit LLP

2. TANGIBLE FIXED ASSETS
Fixtures
and FittingsTotal
££
Cost
At 1 August 20239,7919,791
At 31 March 20249,7919,791
Depreciation
At 1 August 20236,4036,403
For the 244 day period565565
At 31 March 20246,9686,968
Net Book Amounts
At 31 March 20242,8232,823
At 31 July 20233,3883,388
3. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors57537
Other Debtors8,0187,689
8,5937,726
4. EMPLOYEES
20242023
No.No.
Average number of employees--