3 false false false false false false false false false false false false false false false false false No description of principal activity 2023-04-06 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP OC341621 2023-04-06 2024-04-05 OC341621 2024-04-05 OC341621 2023-04-05 OC341621 2022-04-06 2023-04-05 OC341621 2023-04-05 OC341621 2022-04-05 OC341621 core:MotorVehicles 2023-04-06 2024-04-05 OC341621 bus:Director1 2023-04-06 2024-04-05 OC341621 bus:Director2 2023-04-06 2024-04-05 OC341621 core:MotorVehicles 2023-04-05 OC341621 core:MotorVehicles 2024-04-05 OC341621 core:WithinOneYear 2024-04-05 OC341621 core:WithinOneYear 2023-04-05 OC341621 core:AfterOneYear 2024-04-05 OC341621 core:AfterOneYear 2023-04-05 OC341621 core:MotorVehicles 2023-04-05 OC341621 bus:SmallEntities 2023-04-06 2024-04-05 OC341621 bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC341621 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 OC341621 bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC341621 bus:FullAccounts 2023-04-06 2024-04-05
REGISTERED NUMBER: OC341621
P&P SERVICES (UK) LLP
Filleted Unaudited Financial Statements
5 April 2024
P&P SERVICES (UK) LLP
Statement of Financial Position
5 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
18,358
24,471
Current assets
Stocks
4,521
2,297
Debtors
6
101,918
75,685
Cash at bank and in hand
9,038
4,430
---------
--------
115,477
82,412
Creditors: amounts falling due within one year
7
86,708
69,927
---------
--------
Net current assets
28,769
12,485
--------
--------
Total assets less current liabilities
47,127
36,956
Creditors: amounts falling due after more than one year
8
7,930
12,482
--------
--------
Net assets
39,197
24,474
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
9
39,197
24,474
--------
--------
Members' other interests
Other reserves
--------
--------
39,197
24,474
--------
--------
Total members' interests
Amounts due from members
(18,773)
(16,530)
Loans and other debts due to members
9
39,197
24,474
Members' other interests
--------
--------
20,424
7,944
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
P&P SERVICES (UK) LLP
Statement of Financial Position (continued)
5 April 2024
For the year ending 5th April 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) relating to small LLPs.
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 financial statements .
These financial statements were approved by the members and authorised for issue on 28 November 2024 , and are signed on their behalf by:
P Cunliffe
T M Cunliffe
Designated Member
Designated Member
Registered number: OC341621
P&P SERVICES (UK) LLP
Notes to the Financial Statements
Year ended 5th April 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Unit 3a Maiden Mews, 9 Worsley Road, Swinton, Manchester, M27 5WN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
15% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 3 (2023: 3 ).
5.
Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 6th April 2023 and 5th April 2024
85,749
1,500
87,249
--------
-------
--------
Depreciation
At 6th April 2023
61,372
1,406
62,778
Charge for the year
6,094
19
6,113
--------
-------
--------
At 5th April 2024
67,466
1,425
68,891
--------
-------
--------
Carrying amount
At 5th April 2024
18,283
75
18,358
--------
-------
--------
At 5th April 2023
24,377
94
24,471
--------
-------
--------
6.
Debtors
2024
2023
£
£
Trade debtors
82,646
55,153
Other debtors
19,272
20,532
---------
--------
101,918
75,685
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,073
5,520
Trade creditors
71,516
53,403
Social security and other taxes
7,394
8,474
Other creditors
2,725
2,530
--------
--------
86,708
69,927
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,930
12,482
-------
--------
9.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
39,197
24,474
--------
--------