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REGISTERED NUMBER: OC313253 (England and Wales)















Sheen Stickland LLP

Unaudited Financial Statements for the Year Ended 31st March 2024






Sheen Stickland LLP (Registered number: OC313253)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


Sheen Stickland LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: D A Sanders
P J Sharpe
P E H Wright
Sticklands Limited
P Joyce





REGISTERED OFFICE: 2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT





REGISTERED NUMBER: OC313253 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

Sheen Stickland LLP (Registered number: OC313253)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 550,000 550,000
Tangible assets 5 135,873 193,772
685,873 743,772

CURRENT ASSETS
Debtors 6 1,514,907 1,412,424
Cash at bank and in hand 27,934 311,568
1,542,841 1,723,992
CREDITORS
Amounts falling due within one year 7 1,337,533 1,437,368
NET CURRENT ASSETS 205,308 286,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

891,181

1,030,396

CREDITORS
Amounts falling due after more than
one year

8

202,955

317,170
NET ASSETS ATTRIBUTABLE TO
MEMBERS

688,226

713,226

Sheen Stickland LLP (Registered number: OC313253)

Balance Sheet - continued
31st March 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

750,000

750,000

MEMBERS' OTHER INTERESTS
Capital accounts (61,774 ) (36,774 )
688,226 713,226

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 750,000 750,000
Members' other interests (61,774 ) (36,774 )
Amounts due from members 6 (830,392 ) (724,298 )
(142,166 ) (11,072 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Sheen Stickland LLP (Registered number: OC313253)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27th November 2024 and were signed by:




D A Sanders - Designated member




P Joyce - Designated member


Sheen Stickland LLP (Registered number: OC313253)

Notes to the Financial Statements
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

Sheen Stickland LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor Vehicles - 25% on cost

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

Sheen Stickland LLP (Registered number: OC313253)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 550,000
NET BOOK VALUE
At 31st March 2024 550,000
At 31st March 2023 550,000

5. TANGIBLE FIXED ASSETS
Motor
Vehicles
£   
COST
At 1st April 2023 256,252
Disposals (34,894 )
At 31st March 2024 221,358
DEPRECIATION
At 1st April 2023 62,480
Charge for year 37,334
Eliminated on disposal (14,329 )
At 31st March 2024 85,485
NET BOOK VALUE
At 31st March 2024 135,873
At 31st March 2023 193,772

The net book value of tangible fixed assets includes £ 135,873 (2023 - £ 193,772 ) in respect of assets held under hire purchase contracts.

Sheen Stickland LLP (Registered number: OC313253)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 452,365 406,363
Amounts recoverable on contract 89,539 103,413
Other debtors 973,003 902,648
1,514,907 1,412,424

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 55,959 52,870
Hire purchase contracts (see note 9) 37,110 24,922
Trade creditors 124,385 125,796
Taxation and social security 89,384 57,549
Other creditors 1,030,695 1,176,231
1,337,533 1,437,368

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 122,452 181,283
Hire purchase contracts (see note 9) 80,503 135,887
202,955 317,170

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 37,110 24,922
Between one and five years 80,503 135,887
117,613 160,809

Sheen Stickland LLP (Registered number: OC313253)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024


9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 26,250 26,250
Between one and five years 17,500 43,750
43,750 70,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 178,411 234,153
Hire purchase contracts 117,613 160,809
296,024 394,962

The bank loans are secured by a fixed and floating charge over all the property of the entity.

The hire purchase contracts are secured on the assets to which they relate.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members' capital and loans and other debts due to members rank after other creditors on a winding up.