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REGISTERED NUMBER: OC362212 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Period 1 January 2023 to 31 March 2024

for

Daniel Lloyd Racing.Com LLP

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)






Contents of the Financial Statements
for the Period 1 January 2023 to 31 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Daniel Lloyd Racing.Com LLP

General Information
for the Period 1 January 2023 to 31 March 2024







DESIGNATED MEMBERS: D W Lloyd
N A Lloyd





REGISTERED OFFICE: Units 4-5
Fieldhouse Park
Old Fieldhouse Lane
Huddersfield
West Yorkshire
HD2 1FA





REGISTERED NUMBER: OC362212 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Report of the Members
for the Period 1 January 2023 to 31 March 2024

The members present their report with the financial statements of the LLP for the period 1 January 2023 to 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of provisions of motor racing services.

DESIGNATED MEMBERS
The designated members during the period under review were:

D W Lloyd
N A Lloyd

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £75,551 (2022 - £32,937 profit).

MEMBERS' INTERESTS
The partnership's drawings policy allows D W Lloyd to draw a minimum of £1,000 per calender month irrespective of the profits and cash requirements of the business. During the year these drawings totalled £54,404 (2022: £29,539). These drawings are to be repaid from D W Lloyd's share of current and future profits. The partnership's profit share policy entitles D W Lloyd to the first £45,000 per year. Profit share after this level to be decided between the partners on an annual basis.

ON BEHALF OF THE MEMBERS:





N A Lloyd - Designated member


17 December 2024

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Income Statement
for the Period 1 January 2023 to 31 March 2024

Period
1/1/23
to Year Ended
31/3/24 31/12/22
Notes £    £   

TURNOVER 361,367 496,814

Cost of sales 234,417 376,241
GROSS PROFIT 126,950 120,573

Administrative expenses 43,854 76,507
OPERATING PROFIT 4 83,096 44,066


Interest payable and similar expenses 7,545 11,129
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




75,551




32,937

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Balance Sheet
31 March 2024

31.3.24 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 19,020 118,664

CURRENT ASSETS
Debtors 6 209,788 158,352
Cash at bank and in hand 20,195 27,541
229,983 185,893
CREDITORS
Amounts falling due within one year 7 81,344 84,592
NET CURRENT ASSETS 148,639 101,301
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,659

219,965

CREDITORS
Amounts falling due after more than one
year

8

41,063

128,016
NET ASSETS ATTRIBUTABLE TO
MEMBERS

126,596

91,949

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

126,596

91,949

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 126,596 91,949
Amounts due from members 6 (142,472 ) (149,972 )
(15,876 ) (58,023 )

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 period 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.

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Balance Sheet - continued
31 March 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 17 December 2024 and were signed by:





N A Lloyd - Designated member

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 March 2024

1. STATUTORY INFORMATION

Daniel Lloyd Racing.Com 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.

Turnover
Turnover represents net invoiced sales of services and competition based income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 50% on cost and 25% on cost

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2022 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1/1/23
to Year Ended
31/3/24 31/12/22
£    £   
Depreciation - owned assets - 451

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 March 2024 3,493 182,500 185,993
DEPRECIATION
At 1 January 2023 3,493 63,836 67,329
Charge for period - 20,526 20,526
Eliminated on disposal - 79,118 79,118
At 31 March 2024 3,493 163,480 166,973
NET BOOK VALUE
At 31 March 2024 - 19,020 19,020
At 31 December 2022 - 118,664 118,664

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 March 2024 182,500
DEPRECIATION
At 1 January 2023 63,836
Charge for period 20,526
Eliminated on disposal 79,118
At 31 March 2024 163,480
NET BOOK VALUE
At 31 March 2024 19,020
At 31 December 2022 118,664

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Trade debtors 36,480 8,380
Amounts due from members 142,472 149,972
Prepayments 30,836 -
209,788 158,352

Daniel Lloyd Racing.Com LLP (Registered number: OC362212)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.12.22
£    £   
Loan creditor 3,480 3,480
Hire purchase contracts 5,998 31,970
Trade creditors 186 4,713
Social security and other taxes 11,676 1,477
Accrued expenses 59,184 3,243
Amount owed to related
undertaking 820 39,709
81,344 84,592

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.12.22
£    £   
Loan creditor 17,804 22,117
Hire purchase contracts 23,259 105,899
41,063 128,016

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan carries an interest rate of 2.5% per annum and is repayable in accordance with the rules of the scheme.

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.12.22
£    £   
Hire purchase contracts 29,257 137,869

The hire purchase contracts are secured against the assets to which they relate.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up.

11. RELATED PARTY DISCLOSURES

The partnership is related to Pro23 Marketing Limited by virtue of Mr D Lloyd being a director in Pro23 Marketing Limited and a partner in the partnership.

During the year the partnership made sales of £17,000 (2022: £15,000) to Pro23 Marketing Limited.

At the year end the partnership owed Pro23 Marketing Limited £820 (2022: £Nil).

12. ULTIMATE CONTROLLING PARTY

The partnership is under the ultimate control of D W Lloyd who has the casting vote being the senior member.