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REGISTERED NUMBER: OC338911 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Sunderlands 1862 LLP

Sunderlands 1862 LLP (Registered number: OC338911)






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


Sunderlands 1862 LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: R A Hyde
M J Nicholls
T C Reed





REGISTERED OFFICE: Offa House
St. Peters Square
Hereford
Herefordshire
HR1 2PQ





REGISTERED NUMBER: OC338911 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Sunderlands 1862 LLP (Registered number: OC338911)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 48,754 61,750
Tangible assets 5 83,212 69,523
Investments 6 - 1,250,001
131,966 1,381,274

CURRENT ASSETS
Stocks 600 35,082
Debtors 7 1,430,876 1,518,040
Cash at bank and in hand 363,049 23,218
1,794,525 1,576,340
CREDITORS
Amounts falling due within one year 8 1,019,183 1,682,192
NET CURRENT ASSETS/(LIABILITIES) 775,342 (105,852 )
TOTAL ASSETS LESS CURRENT LIABILITIES 907,308 1,275,422

CREDITORS
Amounts falling due after more than one
year

9

12,500

40,974
NET ASSETS ATTRIBUTABLE TO MEMBERS 894,808 1,234,448

Sunderlands 1862 LLP (Registered number: OC338911)

Balance Sheet - continued
31 March 2024

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

12

794,808

1,134,448

MEMBERS' OTHER INTERESTS
Capital accounts 100,000 100,000
894,808 1,234,448

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 12 794,808 1,134,448
Members' other interests 100,000 100,000
894,808 1,234,448

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.

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 25 November 2024 and were signed by:




M J Nicholls - Designated member




T C Reed - Designated member


Sunderlands 1862 LLP (Registered number: OC338911)

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

1. STATUTORY INFORMATION

Sunderlands 1862 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

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.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Operating leases
The relevant annual rentals are charged to the profit and loss account on a straight line basis over the lease term, unless they relate to vacant leasehold properties, in which case provision is made on a discounted basis for the net obligation under the lease. The unwinding of the discount is disclosed within interest payable and similar charges.

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 33 (2023 - 31 ) .

Sunderlands 1862 LLP (Registered number: OC338911)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 65,000
AMORTISATION
At 1 April 2023 3,250
Charge for year 12,996
At 31 March 2024 16,246
NET BOOK VALUE
At 31 March 2024 48,754
At 31 March 2023 61,750

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 328,013
Additions 83,253
Disposals (118,335 )
At 31 March 2024 292,931
DEPRECIATION
At 1 April 2023 258,490
Charge for year 32,040
Eliminated on disposal (80,811 )
At 31 March 2024 209,719
NET BOOK VALUE
At 31 March 2024 83,212
At 31 March 2023 69,523

Sunderlands 1862 LLP (Registered number: OC338911)

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

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023 1,250,001
Disposals (1,250,001 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1,250,001

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 940,707 1,214,835
Other debtors 490,169 303,205
1,430,876 1,518,040

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 207,539 583,982
Trade creditors 62,836 54,439
Taxation and social security 117,986 127,659
Other creditors 630,822 916,112
1,019,183 1,682,192

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 12,500 22,500
Other creditors - 18,474
12,500 40,974

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 97,332 98,370
Between one and five years 69,154 81,484
166,486 179,854

Sunderlands 1862 LLP (Registered number: OC338911)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 197,539 573,982
Bank loans 22,500 32,500
220,039 606,482

The partners have given personal guarantees against bank borrowings.

12. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured and as such rank pari passu with other unsecured creditors.

13. CONTINGENT LIABILITIES

There were no known material contingent liabilities at the year end.

14. POST BALANCE SHEET EVENTS

There were no known post balance sheet events.