Registered number
SO300324
J & W HOLLAND (HAULAGE) LLP
Filleted Accounts
29 February 2024
J & W HOLLAND (HAULAGE) LLP
Registered number: SO300324
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 144,339 187,350
Current assets
Stocks 2,198 2,198
Debtors 4 105,767 185,792
Cash at bank and in hand 47,382 76,605
155,347 264,595
Creditors: amounts falling due within one year 5 (108,873) (186,004)
Net current assets 46,474 78,591
Total assets less current liabilities 190,813 265,941
Creditors: amounts falling due after more than one year 6 (39,137) (63,717)
Net assets attributable to members 151,676 202,224
Represented by:
Loans and other debts due to members 8 (131,848) (81,300)
Members' other interests
Other reserves 283,524 283,524
151,676 202,224
Total members' interests
Loans and other debts due to members 8 (131,848) (81,300)
Members' other interests 283,524 283,524
151,676 202,224
For the year ended 29 February 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 22 November 2024 and signed on their behalf by:
Mr J Holland
Designated member
J & W HOLLAND (HAULAGE) LLP
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Government Grants
Government grants are recognised at the fair value of the asset received or receivable.
Grants are not recognised until there is reasonable assurance that the company will
comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a
systematic basis over the periods in which the company recognises the related costs for
which the is intended to compensate. Grants that are receivable as compensation for
expenses or losses already incurred or for the purpose of giving immediate financial support
to the entity with no future related costs are recognised in income in the period in which it
becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected
useful life of the asset. Where part of a grant relating to an asset is deferred, it is
recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future
performance-related conditions on the recipient, it is recognised in income when the
grant proceeds are received or receivable. Where the grant does impose specified future
performance-related conditions on the recipient, it is recognised in income only when the
performance-related conditions have been met. Where grants received are prior to
satisfying the revenue recognised criteria, they are recognised as a liability.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 2 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2023 106,280 294,756 401,036
Disposals - (39,074) (39,074)
At 29 February 2024 106,280 255,682 361,962
Depreciation
At 1 March 2023 50,717 162,969 213,686
Charge for the year 11,112 24,972 36,084
On disposals - (32,147) (32,147)
At 29 February 2024 61,829 155,794 217,623
Net book value
At 29 February 2024 44,451 99,888 144,339
At 28 February 2023 55,563 131,787 187,350
4 Debtors 2024 2023
£ £
Trade debtors 23,934 109,920
Other debtors 81,833 75,872
105,767 185,792
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,500 9,332
Obligations under finance lease and hire purchase contracts 13,000 17,993
Trade creditors 3,856 102,072
Other taxes and social security costs 15,808 21,203
Other creditors 65,709 35,404
108,873 186,004
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,137 24,717
Obligations under finance lease and hire purchase contracts 26,000 39,000
39,137 63,717
7 Bounceback loan
Effective interest rate 2.5%

Year......Bal b/f..............Interest...............Cashflow.............Bal c/f
.................£.......................£..........................£..........................£
----------------------------------------------------------------------------------------------
....1.........50000........................................................................50000
....2.........50000..................1250.00................-10000...........40000
....3.........40000..................1000.00...............-10000...........30000
....4.........30000....................750.00................-10000...........20000
....5.........20000....................500.00................-10000...........10000
....6.........10000....................250.00................-10000

.............................................3750.00................-50000............................
Less BIP payment 1250.00
Total Interest Payable 2500.00


Interest 12 months 1250.00, account for 8 months as Gov paid Interest till July 2021
£ 833.33 interest in Accounts period 1, and £416.67 in Accounts period 2.
8 Loans and other debts due to members 2024 2023
£ £
Loans from members (9,350) (9,350)
Amounts due to members in respect of profits (122,498) (71,950)
(131,848) (81,300)
Amounts falling due within one year (131,848) (81,300)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
9 Related party transactions
Included in other creditors is the sum of £63314.48 due to Holland Haulage & Plant Ltd, and in other debtors the sum of £79332.93 due by Gilhol Limited, the businesses are connected by Mr J Holland being a Director and Shareholder in these companies. All transactions during the year have been treated on a strictly commercial basis.
10 Other information
J & W HOLLAND (HAULAGE) LLP is a limited liability partnership incorporated in Scotland. Its registered office is:
Nickell Cottage
Southbank Road
Kirkintilloch
Glasgow
G66 1UB
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