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REGISTERED NUMBER: OC411243 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Storm Board LLP

Storm Board LLP (Registered number: OC411243)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Storm Board LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: C D Nicholson - Chairman
M I Stillwell





REGISTERED OFFICE: Snarlton Farm
Wingfield
Trowbridge
Wiltshire
BA14 9LH





REGISTERED NUMBER: OC411243 (England and Wales)





ACCOUNTANTS: Monahans
Chartered Accountants
County Gate
County Way
Trowbridge
Wiltshire
BA14 7FJ

Storm Board LLP (Registered number: OC411243)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 497,049 497,049
497,049 497,049

CURRENT ASSETS
Stocks 809 10,974
Debtors 6 26,357 55,600
Cash at bank and in hand 18,081 11,723
45,247 78,297
CREDITORS
Amounts falling due within one year 7 392,880 446,492
NET CURRENT LIABILITIES (347,633 ) (368,195 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

149,416

128,854

LOANS AND OTHER DEBTS DUE TO
MEMBERS

149,416

128,854

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 149,416 128,854
Amounts due from members 6 (1,890 ) (23,782 )
147,526 105,072

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 31 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.

Storm Board LLP (Registered number: OC411243)

Balance Sheet - continued
31 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 18 November 2024 and were signed by:




C D Nicholson - Chairman - Designated member




M I Stillwell - Designated member


Storm Board LLP (Registered number: OC411243)

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

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
Although the company has net current liabilities at the end of the period, it has total net assets. The company is financially supported by its members when required. As a consequence, the financial statements have been prepared on the going concern basis and the members have a reasonable expectation that the company is well placed to manage its business risks successfully and accordingly.

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

Turnover is recognised on completion of production and when title passes to the customer, normally when goods are despatched.

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.

Patents and licences are being amortised evenly over their estimated useful life of three years.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

Storm Board LLP (Registered number: OC411243)

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

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2023
and 31 March 2024 150,000
AMORTISATION
At 1 April 2023
and 31 March 2024 150,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 891,475
DEPRECIATION
At 1 April 2023
and 31 March 2024 394,426
NET BOOK VALUE
At 31 March 2024 497,049
At 31 March 2023 497,049

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,063 31,437
Amounts due from members 1,890 23,782
Prepayments 404 381
26,357 55,600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,951 34,669
Social security and other taxes 387 413
VAT 11,797 6,992
Other creditors 297,704 399,907
Accrued expenses 58,041 4,511
392,880 446,492

8. RELATED PARTY DISCLOSURES

At the end of the period, there is a balance of ££256,040 (2023: £335,040) included within other creditors that is due to companies under common control. The balance is interest free and repayable on demand.

At the end of the period, there is a balance of £26,101 (2023: £64,867) included within other creditors that is due to companies under common control. The balance is interest free and repayable on demand.