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REGISTERED NUMBER: OC401704 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST OCTOBER 2023 TO 31ST MARCH 2024

FOR

J. PASSEY AND SON LLP

J. PASSEY AND SON LLP (REGISTERED NUMBER: OC401704)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. PASSEY AND SON LLP

GENERAL INFORMATION
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST MARCH 2024







DESIGNATED MEMBERS: E J Saunders
Mrs C S Saunders





REGISTERED OFFICE: Wessex Farm
Wantage Road
Great Shefford
Berkshire
RG17 7DQ





REGISTERED NUMBER: OC401704 (England and Wales)





ACCOUNTANTS: Martin and Company
Two Brewers House
50 North Street
Thame
Oxfordshire
OX9 3BH

J. PASSEY AND SON LLP (REGISTERED NUMBER: OC401704)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 935,877 950,998

CURRENT ASSETS
Debtors 5 146,489 116,616
Cash at bank 40,241 65,907
186,730 182,523
CREDITORS
Amounts falling due within one year 6 121,514 97,182
NET CURRENT ASSETS 65,216 85,341
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,001,093

1,036,339

CREDITORS
Amounts falling due after more than one
year

7

49,095

63,075
NET ASSETS ATTRIBUTABLE TO
MEMBERS

951,998

973,264

J. PASSEY AND SON LLP (REGISTERED NUMBER: OC401704)

BALANCE SHEET - continued
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

414,543

435,809

MEMBERS' OTHER INTERESTS
Capital accounts 537,455 537,455
951,998 973,264

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 414,543 435,809
Members' other interests 537,455 537,455
951,998 973,264

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31st March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31st October 2024 and were signed by:





E J Saunders - Designated member

J. PASSEY AND SON LLP (REGISTERED NUMBER: OC401704)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST MARCH 2024


1. STATUTORY INFORMATION

J. Passey And Son LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Fixtures Totals
£    £    £    £    £   
COST
At 1st October 2023
and 31st March 2024 827,716 137,950 186,359 8,851 1,160,876
DEPRECIATION
At 1st October 2023 - 103,836 103,000 3,042 209,878
Charge for period - 4,264 10,421 436 15,121
At 31st March 2024 - 108,100 113,421 3,478 224,999
NET BOOK VALUE
At 31st March 2024 827,716 29,850 72,938 5,373 935,877
At 30th September 2023 827,716 34,114 83,359 5,809 950,998

J. PASSEY AND SON LLP (REGISTERED NUMBER: OC401704)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1ST OCTOBER 2023 TO 31ST MARCH 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,670 81,084
Other debtors 77,819 35,532
146,489 116,616

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,000 22,000
Hire purchase contracts 8,483 8,857
Trade creditors 65,298 35,938
Taxation and social security 21,656 21,336
Other creditors 4,077 9,051
121,514 97,182

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 45,936 57,547
Hire purchase contracts 3,159 5,528
49,095 63,075

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.