Acorah Software Products - Accounts Production 16.0.110 false true 30 September 2023 1 October 2022 false 1 October 2023 31 March 2024 31 March 2024 OC413708 Mr J Rowland Mr O Parmakis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC413708 2023-09-30 OC413708 2024-03-31 OC413708 2023-10-01 2024-03-31 OC413708 frs-core:CurrentFinancialInstruments 2024-03-31 OC413708 frs-core:PlantMachinery 2024-03-31 OC413708 frs-core:PlantMachinery 2023-10-01 2024-03-31 OC413708 frs-core:PlantMachinery 2023-09-30 OC413708 frs-core:WithinOneYear 2024-03-31 OC413708 frs-bus:LimitedLiabilityPartnershipLLP 2023-10-01 2024-03-31 OC413708 frs-bus:LimitedLiabilityPartnershipsSORP 2023-10-01 2024-03-31 OC413708 frs-bus:FilletedAccounts 2023-10-01 2024-03-31 OC413708 frs-bus:SmallEntities 2023-10-01 2024-03-31 OC413708 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-03-31 OC413708 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-03-31 OC413708 frs-countries:EnglandWales 2023-10-01 2024-03-31 OC413708 frs-bus:PartnerLLP1 2023-10-01 2024-03-31 OC413708 frs-bus:PartnerLLP2 2023-10-01 2024-03-31 OC413708 2022-09-30 OC413708 2023-09-30 OC413708 2022-10-01 2023-09-30 OC413708 frs-core:CurrentFinancialInstruments 2023-09-30 OC413708 frs-core:WithinOneYear 2023-09-30
Registered number: OC413708
Customs and Classics LLP
Financial Statements
For the Period 1 October 2023 to 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC413708
31 March 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,058 3,495
3,058 3,495
CURRENT ASSETS
Stocks 5 9,250 12,210
Cash at bank and in hand 3,989 4,456
13,239 16,666
Creditors: Amounts Falling Due Within One Year 7 (2,117 ) (5,894 )
NET CURRENT ASSETS (LIABILITIES) 11,122 10,772
TOTAL ASSETS LESS CURRENT LIABILITIES 14,180 14,267
NET ASSETS ATTRIBUTABLE TO MEMBERS 14,180 14,267
REPRESENTED BY:
Loans and other debts due to members
Other amounts 14,180 14,267
14,180 14,267
14,180 14,267
TOTAL MEMBERS' INTEREST
Loans and other debts due to members 14,180 14,267
14,180 14,267
Page 1
Page 2
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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
On behalf of the members
Mr J Rowland
Designated Member
12 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Customs and Classics LLP is a limited liability partnership, incorporated in England & Wales, registered number OC413708 . The Registered Office is Units 2 & 3 Sutton Industrial Park, Sea Road, Winchelsea Beach, Winchelsea, East Sussex, TN36 4LZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2023 15,443
As at 31 March 2024 15,443
Depreciation
As at 1 October 2023 11,948
Provided during the period 437
As at 31 March 2024 12,385
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 3,058
As at 1 October 2023 3,495
5. Stocks
31 March 2024 30 September 2023
£ £
Stock 6,110 6,110
Work in progress 3,140 6,100
9,250 12,210
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 September 2023
£ £
Net obligations under finance lease and hire purchase contracts 984 1,438
Trade creditors 1,133 2,956
Other creditors - 1,500
2,117 5,894
8. Obligations Under Finance Leases and Hire Purchase
31 March 2024 30 September 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 984 1,438
Page 4