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Company No: OC357813 (England and Wales)

GUY DENNLER LLP

Unaudited Financial Statements
For the financial period from 01 July 2023 to 31 March 2024
Pages for filing with the registrar

GUY DENNLER LLP

Unaudited Financial Statements

For the financial period from 01 July 2023 to 31 March 2024

Contents

GUY DENNLER LLP

BALANCE SHEET

As at 31 March 2024
GUY DENNLER LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.06.2023
£ £
Fixed assets
Tangible assets 4 102,532 105,550
102,532 105,550
Current assets
Stocks 47,316 59,406
Debtors 5 3,496 8,161
Cash at bank and in hand 7,915 8,518
58,727 76,085
Creditors: amounts falling due within one year 6 ( 27,952) ( 19,174)
Net current assets 30,775 56,911
Total assets less current liabilities 133,307 162,461
Creditors: amounts falling due after more than one year 7 ( 12,128) ( 19,186)
Net assets attributable to members 121,179 143,275
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 82,142 27,394
82,142 27,394
Members' other interests
Other reserves 39,037 115,881
39,037 115,881
121,179 143,275
Total members' interests
Loans and other debts due to members 82,142 27,394
Members' other interests 39,037 115,881
121,179 143,275

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 Guy Dennler LLP (registered number: OC357813) were approved and authorised for issue by the Board of Directors on 12 November 2024. They were signed on its behalf by:

Mr H G Dennler
Designated member
GUY DENNLER LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2023 to 31 March 2024
GUY DENNLER LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 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 and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Guy Dennler 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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Church House, Half Moon Street, Sherborne, Dorset, DT9 3LN.

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 £.

Reporting period length

The financial year end has been shortened so that it falls in line with the tax year.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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 75 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

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.

Leases

The LLP as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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'.

A member's share of the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.

2. Employees

Period from
01.07.2023 to
31.03.2024
Year ended
30.06.2023
Number Number
Monthly average number of persons employed by the LLP during the period 0 0

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

31.03.2024 30.06.2023
Number Number
Average number of members during the financial period 2 2

4. Tangible assets

Land and buildings Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 July 2023 101,318 27,495 5,589 7,580 141,982
Additions 0 0 0 390 390
Disposals 0 0 0 ( 433) ( 433)
At 31 March 2024 101,318 27,495 5,589 7,537 141,939
Accumulated depreciation
At 01 July 2023 9,365 18,795 3,999 4,273 36,432
Charge for the financial period 1,009 1,631 240 501 3,381
Disposals 0 0 0 ( 406) ( 406)
At 31 March 2024 10,374 20,426 4,239 4,368 39,407
Net book value
At 31 March 2024 90,944 7,069 1,350 3,169 102,532
At 30 June 2023 91,953 8,700 1,590 3,307 105,550

5. Debtors

31.03.2024 30.06.2023
£ £
Trade debtors 0 7,222
Other debtors 3,496 939
3,496 8,161

6. Creditors: amounts falling due within one year

31.03.2024 30.06.2023
£ £
Bank loans (secured) 10,291 10,193
Trade creditors 7,282 3,301
Accruals 2,823 3,260
Other taxation and social security 7,541 2,420
Other creditors 15 0
27,952 19,174

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.

7. Creditors: amounts falling due after more than one year

31.03.2024 30.06.2023
£ £
Bank loans (secured) 12,128 19,186

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.03.2024 30.06.2023
£ £
within one year 12,600 0
between one and five years 50,400 0
after five years 6,300 0
69,300 0