REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Cheshire Luxury Cars LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Cheshire Luxury Cars LLP |
Cheshire Luxury Cars LLP (Registered number: OC398712) |
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 |
Cheshire Luxury Cars LLP |
General Information |
for the year ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
St George's Court |
Winnington Avenue |
Northwich |
Cheshire |
CW8 4EE |
Cheshire Luxury Cars LLP (Registered number: OC398712) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,300 |
100 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
3,200 |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 100 | 100 |
3,300 | 100 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 3,200 | - |
Members' other interests | 100 | 100 |
Amounts due from members | 5 | (53,481 | ) | (31,872 | ) |
(50,181 | ) | (31,772 | ) |
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. |
Cheshire Luxury Cars LLP (Registered number: OC398712) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Cheshire Luxury Cars LLP (Registered number: OC398712) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Cheshire Luxury Cars 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 |
The financial statements have been prepared on a going concern basis which assumes that the LLP will continue in operational existence for the foreseeable future. Having reviewed the future cash flows of the business, the partners are satisfied that the LLP will have adequate resources to meet its liabilities as they fall due. On this basis, the partners believe it appropriate to prepare the accounts on a going concern basis. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Motor vehicles | - 25% on reducing balance |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives. |
The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement. |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
Cheshire Luxury Cars LLP (Registered number: OC398712) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Cheshire Luxury Cars LLP (Registered number: OC398712) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 224,679 | 264,491 |
The hire purchase contracts are secured over the assets to which they relate. |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |