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REGISTERED NUMBER: OC398712 (England and Wales)






















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: S F Murphy
P McDermott





REGISTERED OFFICE: 2nd Floor
5 New York Street
Manchester
M1 4JB





REGISTERED NUMBER: OC398712 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
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 4 178,637 234,571

CURRENT ASSETS
Debtors 5 53,481 32,209
Cash at bank 1,244 1,773
54,725 33,982
CREDITORS
Amounts falling due within one year 6 (155,466 ) (110,477 )
NET CURRENT LIABILITIES (100,741 ) (76,495 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,896

158,076

CREDITORS
Amounts falling due after more than one year 7 (74,596 ) (157,976 )
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 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.

Cheshire Luxury Cars LLP (Registered number: OC398712)

Balance Sheet - continued
31 March 2024


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 19 December 2024 and were signed by:





S F Murphy - Designated member

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
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.

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 391,190
DEPRECIATION
At 1 April 2023 156,619
Charge for year 55,934
At 31 March 2024 212,553
NET BOOK VALUE
At 31 March 2024 178,637
At 31 March 2023 234,571

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 391,190
DEPRECIATION
At 1 April 2023 156,619
Charge for year 55,934
At 31 March 2024 212,553
NET BOOK VALUE
At 31 March 2024 178,637
At 31 March 2023 234,571

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 53,481 32,209

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 150,083 106,515
Trade creditors 4,083 1,962
Other creditors 1,300 2,000
155,466 110,477

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts 74,596 157,976

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.