33 false false false false false false false false false false false false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 13,000 7,000 1,517 8,517 4,483 6,000 xbrli:pure xbrli:shares iso4217:GBP OC320199 2023-09-01 2024-03-31 OC320199 2024-03-31 OC320199 2023-08-31 OC320199 2022-09-01 2023-08-31 OC320199 2023-08-31 OC320199 2022-08-31 OC320199 core:LandBuildings core:LongLeaseholdAssets 2023-09-01 2024-03-31 OC320199 core:PlantMachinery 2023-09-01 2024-03-31 OC320199 core:FurnitureFittings 2023-09-01 2024-03-31 OC320199 core:MotorVehicles 2023-09-01 2024-03-31 OC320199 bus:Director1 2023-09-01 2024-03-31 OC320199 core:NetGoodwill 2023-08-31 OC320199 core:NetGoodwill 2024-03-31 OC320199 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 OC320199 core:PlantMachinery 2023-08-31 OC320199 core:FurnitureFittings 2023-08-31 OC320199 core:MotorVehicles 2023-08-31 OC320199 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 OC320199 core:PlantMachinery 2024-03-31 OC320199 core:FurnitureFittings 2024-03-31 OC320199 core:MotorVehicles 2024-03-31 OC320199 core:WithinOneYear 2024-03-31 OC320199 core:WithinOneYear 2023-08-31 OC320199 core:AfterOneYear 2024-03-31 OC320199 core:AfterOneYear 2023-08-31 OC320199 core:NetGoodwill 2023-09-01 2024-03-31 OC320199 core:NetGoodwill 2023-08-31 OC320199 core:LandBuildings core:LongLeaseholdAssets 2023-08-31 OC320199 core:PlantMachinery 2023-08-31 OC320199 core:FurnitureFittings 2023-08-31 OC320199 core:MotorVehicles 2023-08-31 OC320199 bus:SmallEntities 2023-09-01 2024-03-31 OC320199 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-03-31 OC320199 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-03-31 OC320199 bus:LimitedLiabilityPartnershipLLP 2023-09-01 2024-03-31 OC320199 bus:FullAccounts 2023-09-01 2024-03-31
REGISTERED NUMBER: OC320199
ROBINSON WHOLESALE LLP
Filleted Unaudited Financial Statements
31 March 2024
ROBINSON WHOLESALE LLP
Financial Statements
Period from 1 September 2023 to 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
ROBINSON WHOLESALE LLP
Statement of Financial Position
31 March 2024
31 Mar 24
31 Aug 23
Note
£
£
£
£
Fixed assets
Intangible assets
5
4,483
6,000
Tangible assets
6
809,522
751,231
---------
---------
814,005
757,231
Current assets
Stocks
478,165
294,753
Debtors
7
425,402
363,728
Cash at bank and in hand
81,638
121,876
---------
---------
985,205
780,357
Creditors: amounts falling due within one year
8
1,065,942
866,267
------------
---------
Net current liabilities
80,737
85,910
---------
---------
Total assets less current liabilities
733,268
671,321
Creditors: amounts falling due after more than one year
9
548,217
542,121
---------
---------
Net assets
185,051
129,200
---------
---------
Represented by:
Loans and other debts due to members
Other amounts
10
185,051
129,200
---------
---------
Members' other interests
Other reserves
---------
---------
185,051
129,200
---------
---------
Total members' interests
Loans and other debts due to members
10
185,051
129,200
Members' other interests
---------
---------
185,051
129,200
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
ROBINSON WHOLESALE LLP
Statement of Financial Position (continued)
31 March 2024
For the 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 14 November 2024 , and are signed on their behalf by:
Mr D. E. Robinson
Designated Member
Registered number: OC320199
ROBINSON WHOLESALE LLP
Notes to the Financial Statements
Period from 1 September 2023 to 31 March 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Alex House, 260/8 Chapel Street, Salford, Manchester, M3 5JZ, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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).
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Straight line over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Improvements
-
15% reducing balance
Plant and Machinery
-
15% reducing balance
Fixtures and Fittings
-
15% reducing balance
Commercial Vehicles
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost or net realisable value.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to 33 (2023: 27 ).
5.
Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 March 2024
13,000
--------
Amortisation
At 1 September 2023
7,000
Charge for the period
1,517
--------
At 31 March 2024
8,517
--------
Carrying amount
At 31 March 2024
4,483
--------
At 31 August 2023
6,000
--------
6.
Tangible assets
Property improvements
Plant and machinery
Fixtures and fittings
Commercial vehicles
Total
£
£
£
£
£
Cost
At 1 September 2023
349,529
348,723
153,795
368,271
1,220,318
Additions
44,968
37,297
27,472
135,369
245,106
---------
---------
---------
---------
------------
At 31 March 2024
394,497
386,020
181,267
503,640
1,465,424
---------
---------
---------
---------
------------
Depreciation
At 1 September 2023
134,615
136,394
100,834
97,244
469,087
Charge for the period
48,728
46,805
15,082
76,200
186,815
---------
---------
---------
---------
------------
At 31 March 2024
183,343
183,199
115,916
173,444
655,902
---------
---------
---------
---------
------------
Carrying amount
At 31 March 2024
211,154
202,821
65,351
330,196
809,522
---------
---------
---------
---------
------------
At 31 August 2023
214,914
212,329
52,961
271,027
751,231
---------
---------
---------
---------
------------
7.
Debtors
31 Mar 24
31 Aug 23
£
£
Trade debtors
413,228
326,616
Other debtors
12,174
37,112
---------
---------
425,402
363,728
---------
---------
8. Creditors: amounts falling due within one year
31 Mar 24
31 Aug 23
£
£
Bank loans and overdrafts
47,636
47,270
Trade creditors
661,696
620,127
Social security and other taxes
33,709
33,146
Other creditors
322,901
165,724
------------
---------
1,065,942
866,267
------------
---------
9. Creditors: amounts falling due after more than one year
31 Mar 24
31 Aug 23
£
£
Bank loans and overdrafts
363,601
393,328
Other creditors
184,616
148,793
---------
---------
548,217
542,121
---------
---------
10.
Loans and other debts due to members
31 Mar 24
31 Aug 23
£
£
Amounts owed to members in respect of profits
185,051
129,200
---------
---------
11.
Related party transactions
In the opinion of the members there is no controlling party as defined by financial reporting Standard No 8 "Related party disclosures".