Silverfin false 31/03/2024 16/02/2023 31/03/2024 Mr J W N Lowes 16/02/2023 Mr T N Lowes 16/02/2023 Mr A E N Lowes 16/02/2023 Mr D J Lowes 16/02/2023 Mrs F-A Richardson 16/02/2023 11 November 2024 OC445855 2024-03-31 OC445855 bus:Director1 2024-03-31 OC445855 bus:Director2 2024-03-31 OC445855 bus:Director3 2024-03-31 OC445855 bus:Director4 2024-03-31 OC445855 bus:Director5 2024-03-31 OC445855 core:CurrentFinancialInstruments 2024-03-31 OC445855 core:LandBuildings 2023-02-15 OC445855 core:PlantMachinery 2023-02-15 OC445855 2023-02-15 OC445855 core:LandBuildings 2024-03-31 OC445855 core:PlantMachinery 2024-03-31 OC445855 2023-02-16 2024-03-31 OC445855 bus:FullAccounts 2023-02-16 2024-03-31 OC445855 bus:SmallEntities 2023-02-16 2024-03-31 OC445855 bus:AuditExemptWithAccountantsReport 2023-02-16 2024-03-31 OC445855 bus:LimitedLiabilityPartnershipLLP 2023-02-16 2024-03-31 OC445855 bus:Director1 2023-02-16 2024-03-31 OC445855 bus:Director2 2023-02-16 2024-03-31 OC445855 bus:Director3 2023-02-16 2024-03-31 OC445855 bus:Director4 2023-02-16 2024-03-31 OC445855 bus:Director5 2023-02-16 2024-03-31 OC445855 core:LandBuildings core:BottomRangeValue 2023-02-16 2024-03-31 OC445855 core:LandBuildings core:TopRangeValue 2023-02-16 2024-03-31 OC445855 core:PlantMachinery 2023-02-16 2024-03-31 OC445855 core:PlantMachinery core:TopRangeValue 2023-02-16 2024-03-31 OC445855 core:LandBuildings 2023-02-16 2024-03-31 OC445855 core:CurrentFinancialInstruments 2023-02-16 2024-03-31 iso4217:GBP xbrli:pure

Company No: OC445855 (England and Wales)

BEINGLAS LLP

Unaudited Financial Statements
For the financial period from 16 February 2023 to 31 March 2024
Pages for filing with the registrar

BEINGLAS LLP

Unaudited Financial Statements

For the financial period from 16 February 2023 to 31 March 2024

Contents

BEINGLAS LLP

BALANCE SHEET

As at 31 March 2024
BEINGLAS LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 851,534
851,534
Current assets
Stocks 10,796
Debtors 4 123,197
Cash at bank and in hand 76,385
210,378
Creditors: amounts falling due within one year 5 ( 531,278)
Net current liabilities (320,900)
Total assets less current liabilities 530,634
Accruals and deferred income 6 ( 221,050)
Net assets attributable to members 309,584
Represented by
Members' other interests
Members' capital classified as equity 600,000
Other reserves (290,416)
309,584
309,584
Total members' interests
Members' other interests 309,584
309,584

For the financial period ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of Beinglas LLP (registered number: OC445855) were approved and authorised for issue by the Board of Directors on 11 November 2024. They were signed on its behalf by:

Mr D J Lowes
Designated member
Mr A E N Lowes
Designated member
BEINGLAS LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial period from 16 February 2023 to 31 March 2024
BEINGLAS LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial period from 16 February 2023 to 31 March 2024
EQUITY
Members' other interests
Total members' interests
Members' capital (classified as equity) Other reserves Total Total
£ £ £ £
Balance at 16 February 2023 0 0 0 0
Loss for the financial period available for discretionary division among members 0 (290,416) (290,416) (290,416)
Members' interest after loss for the financial period 0 (290,416) (290,416) (290,416)
Introduced by members 600,000 0 600,000 600,000
Balance at 31 March 2024 600,000 (290,416) 309,584 309,584

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

BEINGLAS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 February 2023 to 31 March 2024
BEINGLAS LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 16 February 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Beinglas LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of the service of the campsite, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 0 - 10 years straight line
Plant and machinery 20 % reducing balance
3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes goods for resale and cleaning equipment based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation and UITF abstract 39 Members' shares in co-operative entities and similar instruments. A members' participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payments to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

Period from
16.02.2023 to
31.03.2024
Number
Number of persons employed by the LLP as at the end of the period 2

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 16 February 2023 0 0 0
Additions 752,449 142,148 894,597
At 31 March 2024 752,449 142,148 894,597
Accumulated depreciation
At 16 February 2023 0 0 0
Charge for the financial period 15,755 27,308 43,063
At 31 March 2024 15,755 27,308 43,063
Net book value
At 31 March 2024 736,694 114,840 851,534

4. Debtors

31.03.2024
£
Trade debtors 96,976
VAT recoverable 26,221
123,197

5. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 26,105
Other creditors 505,173
531,278

Other creditors comprises a loan of £455,173 from a business that shares members and a short-term £50,000 loan from one of the members. Interest is not charged on these loans and they are repayable on demand.

6. Accruals and deferred income

31.03.2024
£
Accruals (21,882)
Deferred income (199,168)
(221,050)