Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 OC398458 Mrs Lara Michell Mr Lloyd Michell iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC398458 2023-02-28 OC398458 2024-02-29 OC398458 2023-03-01 2024-02-29 OC398458 frs-core:CurrentFinancialInstruments 2024-02-29 OC398458 frs-core:Non-currentFinancialInstruments 2024-02-29 OC398458 frs-core:NetGoodwill 2024-02-29 OC398458 frs-core:NetGoodwill 2023-03-01 2024-02-29 OC398458 frs-core:NetGoodwill 2023-02-28 OC398458 frs-core:MotorVehicles 2024-02-29 OC398458 frs-core:MotorVehicles 2023-03-01 2024-02-29 OC398458 frs-core:MotorVehicles 2023-02-28 OC398458 frs-core:PlantMachinery 2024-02-29 OC398458 frs-core:PlantMachinery 2023-03-01 2024-02-29 OC398458 frs-core:PlantMachinery 2023-02-28 OC398458 frs-bus:LimitedLiabilityPartnershipLLP 2023-03-01 2024-02-29 OC398458 frs-bus:LimitedLiabilityPartnershipsSORP 2023-03-01 2024-02-29 OC398458 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 OC398458 frs-bus:SmallEntities 2023-03-01 2024-02-29 OC398458 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 OC398458 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 OC398458 frs-countries:EnglandWales 2023-03-01 2024-02-29 OC398458 frs-bus:PartnerLLP1 2023-03-01 2024-02-29 OC398458 frs-bus:PartnerLLP2 2023-03-01 2024-02-29 OC398458 2022-02-28 OC398458 2023-02-28 OC398458 2022-03-01 2023-02-28 OC398458 frs-core:CurrentFinancialInstruments 2023-02-28 OC398458 frs-core:Non-currentFinancialInstruments 2023-02-28
Registered number: OC398458
Twigs Nurseries LLP
Unaudited Financial Statements
For The Year Ended 29 February 2024
Fairmile Accounting Ltd
Boston House
Downsview Road
Wantage
OX12 9FF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC398458
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 80,817 83,417
Tangible Assets 5 2,081 2,200
82,898 85,617
CURRENT ASSETS
Stocks 6 24,599 21,155
Debtors 7 17,913 5,122
Cash at bank and in hand 2,952 3,803
45,464 30,080
Creditors: Amounts Falling Due Within One Year 8 (9,640 ) (13,318 )
NET CURRENT ASSETS (LIABILITIES) 35,824 16,762
TOTAL ASSETS LESS CURRENT LIABILITIES 118,722 102,379
Creditors: Amounts Falling Due After More Than One Year 9 (100,510 ) (97,836 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 18,212 4,543
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 4,769 4,769
Other amounts 13,669 -
18,438 4,769
Equity
Members' other interests
Other reserves (226) (226)
(226) (226)
18,212 4,543
TOTAL MEMBERS' INTEREST
Amounts due from members (17,913) (5,122)
Loans and other debts due to members within one year 18,438 4,769
Members' other interests (226) (226)
299 (579)
Page 1
Page 2
For the year ending 29 February 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
Mrs Lara Michell
Designated Member
22/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Twigs Nurseries LLP is a limited liability partnership, incorporated in England & Wales, registered number OC398458 . The Registered Office is Windy Ridge, Bletchley Road, Thornborough, MK18 2DZ.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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 Fully depreciated
Motor Vehicles 20% Straight line
2.5. 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: 2 (2023: 2)
2 2
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 104,000
As at 29 February 2024 104,000
Amortisation
As at 1 March 2023 20,583
Provided during the period 2,600
As at 29 February 2024 23,183
Net Book Value
As at 29 February 2024 80,817
As at 1 March 2023 83,417
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 20,881 11,890 32,771
As at 29 February 2024 20,881 11,890 32,771
Depreciation
As at 1 March 2023 23,140 7,431 30,571
Provided during the period (2,259 ) 2,378 119
As at 29 February 2024 20,881 9,809 30,690
Net Book Value
As at 29 February 2024 - 2,081 2,081
As at 1 March 2023 (2,259 ) 4,459 2,200
6. Stocks
2024 2023
£ £
Stock 24,599 21,155
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 17,913 5,122
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 8,613 10,548
Other creditors 961 2,418
Taxation and social security 66 352
9,640 13,318
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 95,417
Other loans 100,510 -
Other creditors - 2,419
100,510 97,836
Page 5