Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC436840 Mr S Snell Mr B Snell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC436840 2023-03-31 OC436840 2024-03-31 OC436840 2023-04-01 2024-03-31 OC436840 frs-core:PlantMachinery 2024-03-31 OC436840 frs-core:PlantMachinery 2023-04-01 2024-03-31 OC436840 frs-core:PlantMachinery 2023-03-31 OC436840 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC436840 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC436840 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC436840 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC436840 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC436840 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC436840 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC436840 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC436840 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC436840 2022-03-31 OC436840 2023-03-31 OC436840 2022-04-01 2023-03-31 OC436840 frs-core:CurrentFinancialInstruments 2023-03-31
Registered number: OC436840
Snell Bros Surfboards LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
PKR Accounting Techniques
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC436840
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,335 5,100
4,335 5,100
CURRENT ASSETS
Stocks 5 24,000 28,968
Debtors 6 62 10,000
Cash at bank and in hand 41,607 26,843
65,669 65,811
Creditors: Amounts Falling Due Within One Year 7 (438 ) (570 )
NET CURRENT ASSETS (LIABILITIES) 65,231 65,241
TOTAL ASSETS LESS CURRENT LIABILITIES 69,566 70,341
NET ASSETS ATTRIBUTABLE TO MEMBERS 69,566 70,341
REPRESENTED BY:
Loans and other debts due to members
Other amounts 3,055 6,787
3,055 6,787
Equity
Members' other interests
Members' capital 66,511 63,554
66,511 63,554
69,566 70,341
TOTAL MEMBERS' INTEREST
Loans and other debts due to members 3,055 6,787
Members' other interests 66,511 63,554
69,566 70,341
Page 1
Page 2
For the year 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 Profit and Loss Account.
On behalf of the members
Mr B Snell
Designated Member
7th 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
Snell Bros Surfboards LLP is a limited liability partnership, incorporated in England & Wales, registered number OC436840 . The Registered Office is 20 Meadow Way, Westergate, Chichester, West Sussex, PO20 3QT.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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 15% on Reducing Basis
2.4. 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 year was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 6,000
As at 31 March 2024 6,000
Depreciation
As at 1 April 2023 900
Provided during the period 765
As at 31 March 2024 1,665
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 4,335
As at 1 April 2023 5,100
5. Stocks
2024 2023
£ £
Finished goods 24,000 28,968
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 62 10,000
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 438 414
Taxation and social security - 156
438 570
Page 4