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REGISTERED NUMBER: OC363984 (England and Wales)











Financial Statements

for the Year Ended 31st March 2024

for

M LOWE BUILDERS LLP

M LOWE BUILDERS LLP (REGISTERED NUMBER: OC363984)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M LOWE BUILDERS LLP

General Information
for the year ended 31st March 2024







DESIGNATED MEMBERS: M Lowe
Mrs D Lowe





REGISTERED OFFICE: Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ





REGISTERED NUMBER: OC363984 (England and Wales)





ACCOUNTANTS: Cheeld Wheeler & Co
Chartered Certified Accountants
Redhill Chambers
2d High Street
Redhill
Surrey
RH1 1RJ

M LOWE BUILDERS LLP (REGISTERED NUMBER: OC363984)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 625 833

CURRENT ASSETS
Stocks 14,322 25,433
Debtors 57,055 54,368
71,377 79,801
CREDITORS
Amounts falling due within one year 5 37,715 38,095
NET CURRENT ASSETS 33,662 41,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,287

42,539

CREDITORS
Amounts falling due after more than one year 6 14,287 22,539
NET ASSETS ATTRIBUTABLE TO
MEMBERS

20,000

20,000

M LOWE BUILDERS LLP (REGISTERED NUMBER: OC363984)

Balance Sheet - continued
31st March 2024

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

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 20,000 20,000
20,000 20,000

TOTAL MEMBERS' INTERESTS
Members' other interests 20,000 20,000
Amounts due from members (57,055 ) (54,368 )
(37,055 ) (34,368 )

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 year 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 27th September 2024 and were signed by:




M Lowe - Designated member




Mrs D Lowe - Designated member


M LOWE BUILDERS LLP (REGISTERED NUMBER: OC363984)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

M Lowe Builders 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

M LOWE BUILDERS LLP (REGISTERED NUMBER: OC363984)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 17,760 1,878 19,638
DEPRECIATION
At 1st April 2023 17,151 1,654 18,805
Charge for year 152 56 208
At 31st March 2024 17,303 1,710 19,013
NET BOOK VALUE
At 31st March 2024 457 168 625
At 31st March 2023 609 224 833

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 25,144 20,583
Trade creditors 4,000 3,026
Social security and other taxes - 2,014
VAT 5,395 9,784
Other Creditors 876 688
Accrued expenses 2,300 2,000
37,715 38,095

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 14,287 22,539