Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-0113The principal objectives of the LLP is the sale of and repair of commercial vehicles.15truefalsetrue OC344663 2023-05-01 2024-03-31 OC344663 2022-05-01 2023-04-30 OC344663 2024-03-31 OC344663 2023-04-30 OC344663 c:Buildings 2023-05-01 2024-03-31 OC344663 c:Buildings 2024-03-31 OC344663 c:Buildings 2023-04-30 OC344663 c:Buildings c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC344663 c:PlantMachinery 2023-05-01 2024-03-31 OC344663 c:PlantMachinery 2024-03-31 OC344663 c:PlantMachinery 2023-04-30 OC344663 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC344663 c:FurnitureFittings 2023-05-01 2024-03-31 OC344663 c:FurnitureFittings 2024-03-31 OC344663 c:FurnitureFittings 2023-04-30 OC344663 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC344663 c:OwnedOrFreeholdAssets 2023-05-01 2024-03-31 OC344663 c:CurrentFinancialInstruments 2024-03-31 OC344663 c:CurrentFinancialInstruments 2023-04-30 OC344663 c:Non-currentFinancialInstruments 2024-03-31 OC344663 c:Non-currentFinancialInstruments 2023-04-30 OC344663 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC344663 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC344663 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC344663 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 OC344663 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC344663 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-04-30 OC344663 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC344663 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-04-30 OC344663 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 OC344663 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 OC344663 d:FRS102 2023-05-01 2024-03-31 OC344663 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-03-31 OC344663 d:FullAccounts 2023-05-01 2024-03-31 OC344663 d:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 OC344663 2 2023-05-01 2024-03-31 OC344663 5 2023-05-01 2024-03-31 OC344663 d:PartnerLLP1 2023-05-01 2024-03-31 OC344663 d:PartnerLLP4 2023-05-01 2024-03-31 OC344663 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC344663 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-30 OC344663 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC344663 c:FurtherSpecificReserve1ComponentTotalEquity 2023-04-30 OC344663 e:PoundSterling 2023-05-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC344663










DITCHBURN TRUCK SERVICES LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 11 MONTHS ENDED 31 MARCH 2024

 
DITCHBURN TRUCK SERVICES LLP
REGISTERED NUMBER: OC344663

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
30 April
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
633,873
640,555

  
633,873
640,555

Current assets
  

Stocks
 5 
756,022
1,037,856

Debtors: amounts falling due within one year
 6 
530,249
729,951

Cash at bank and in hand
 7 
106,803
116,656

  
1,393,074
1,884,463

Creditors: Amounts Falling Due Within One Year
 8 
(1,197,698)
(1,806,420)

Net current assets
  
 
 
195,376
 
 
78,043

Total assets less current liabilities
  
829,249
718,598

Creditors: amounts falling due after more than one year
 9 
(28,193)
(56,959)

  
801,056
661,639

  

Net assets
  
801,056
661,639

Page 1

 
DITCHBURN TRUCK SERVICES LLP
REGISTERED NUMBER: OC344663
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

31 March
30 April
2024
2023
Note
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
541,043
401,626

Revaluation reserve classified as equity
  
260,013
260,013

  
 
801,056
 
661,639

  
801,056
661,639


Total members' interests
  

Members' other interests
  
801,056
661,639

  
801,056
661,639


The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 9 December 2024.






J P Ditchburn
V M Ditchburn
Designated member
Designated member

The notes on pages 3 to 11 form part of these financial statements.

Ditchburn Truck Services LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

The entity is a limited liability partnership registered in England and Wales within the United Kingdom. The registered office is Jayvee Works, Sefton Lane Industrial Estate, Maghull, Liverpool, L31 8BX and the registered number is OC344663.
These financial statements are for Ditchburn Truck Services LLP as an individual single entity only.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The  presentation  currency  of these financial statements is pound sterling; the financial statements are rounded to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

Page 3

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.2

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The LLP adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the LLP. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Page 4

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.3
TANGIBLE FIXED ASSETS (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line on building element only
Plant and machinery
-
15% on reducing balance
Fixtures and fittings
-
15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

DIVISION AND DISTRIBUTION OF PROFITS

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.10

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

PENSIONS

Defined contribution pension plan

The LLP operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the LLP in independently administered funds.

 
2.12

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the 11 months in which they are incurred.

Page 6

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the 11 months was 15 (2023 - 13).


4.


TANGIBLE FIXED ASSETS







Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 May 2023
675,000
49,889
26,925
751,814


Additions
-
-
5,500
5,500



At 31 March 2024

675,000
49,889
32,425
757,314



Depreciation


At 1 May 2023
74,250
22,054
14,954
111,258


Charge for the 11 months on owned assets
6,188
3,827
2,168
12,183



At 31 March 2024

80,438
25,881
17,122
123,441



Net book value



At 31 March 2024
594,562
24,008
15,303
633,873



At 30 April 2023
600,750
27,834
11,971
640,555

Page 7

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024
Cost or valuation at 31 March 2024 is as follows:

Land and buildings
£


-
At valuation:

On 30 April 2011 by the members
675,000



675,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

31 March
30 April
2024
2023
£
£



Cost
414,987
414,987

Accumulated depreciation
(49,453)
(45,649)

Net book value
365,534
369,338


5.


STOCKS

31 March
30 April
2024
2023
£
£

Raw materials and consumables
37,445
21,409

Consignment stock
493,519
719,924

Finished goods and goods for resale
225,058
296,523

756,022
1,037,856


Page 8

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

6.


DEBTORS

31 March
30 April
2024
2023
£
£


Trade debtors
426,105
587,772

Other debtors
32,029
78,784

Prepayments and accrued income
72,115
63,395

530,249
729,951



7.


CASH AND CASH EQUIVALENTS

31 March
30 April
2024
2023
£
£

Cash at bank and in hand
106,803
116,656

Less: bank overdrafts
(140,950)
(23,371)

(34,147)
93,285



8.


CREDITORS: Amounts falling due within one year

31 March
30 April
2024
2023
£
£

Bank overdrafts
140,950
23,371

Bank loans
25,447
24,046

Trade creditors
447,371
758,677

Consignment stock creditor
493,519
719,924

Other taxation and social security
10,927
20,043

Obligations under finance lease and hire purchase contracts
6,842
50,690

Other creditors
30,586
98,468

Accruals and deferred income
42,056
111,201

1,197,698
1,806,420


Consignment stock creditor is secured on consignment stock.
Obligations under finance lease and hire purchase contracts are secured on the assets concerned.
Bank loans of £15,348 (2023 - £14,167) are secured on all assets of the LLP.

Page 9

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

9.


CREDITORS: Amounts falling due after more than one year

31 March
30 April
2024
2023
£
£

Bank loans
23,297
45,768

Net obligations under finance leases and hire purchase contracts
4,897
11,191

28,194
56,959


Bank loans of £6,797 (2023 - £20,320) are secured on all assets of the LLP.
Obligations under finance lease and hire purchase contracts are secured on the assets concerned.


10.


LOANS


Analysis of the maturity of loans is given below:


31 March
30 April
2024
2023
£
£

Amounts falling due within one year

Bank loans
25,447
24,046


25,447
24,046

Amounts falling due 1-2 years

Bank loans
17,151
25,204


17,151
25,204

Amounts falling due 2-5 years

Bank loans
6,146
20,565


6,146
20,565


48,744
69,815


Page 10

 
DITCHBURN TRUCK SERVICES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 MARCH 2024

11.


FINANCIAL INSTRUMENTS

31 March
30 April
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
106,803
116,656




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.

 
Page 11