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REGISTERED NUMBER: OC312860 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Rare Gear LLP

Rare Gear LLP (Registered number: OC312860)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rare Gear LLP

General Information
for the Year Ended 30 April 2024







DESIGNATED MEMBERS: S S Shah
Mrs J Shah





REGISTERED OFFICE: C/O Estate Office
Wembley Commercial Centre
East Lane
North Wembley
Middlesex
HA9 7UR





REGISTERED NUMBER: OC312860 (England and Wales)






Rare Gear LLP (Registered number: OC312860)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,202 3,209

CURRENT ASSETS
Stocks 45,785 45,870
Debtors 5 7,515 4,761
Cash at bank 19,329 16,368
72,629 66,999
CREDITORS
Amounts falling due within one year 6 9,417 8,387
NET CURRENT ASSETS 63,212 58,612
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

69,414

61,821

LOANS AND OTHER DEBTS DUE TO
MEMBERS

69,414

61,821

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 69,414 61,821

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 30 April 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.

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 12 January 2025 and were signed by:





S S Shah - Designated member

Rare Gear LLP (Registered number: OC312860)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Rare Gear 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 620 12,125 1,583 14,328
Additions - 7,295 - 7,295
Disposals - (12,125 ) - (12,125 )
At 30 April 2024 620 7,295 1,583 9,498
DEPRECIATION
At 1 May 2023 619 8,917 1,583 11,119
Charge for year - 1,094 - 1,094
Eliminated on disposal - (8,917 ) - (8,917 )
At 30 April 2024 619 1,094 1,583 3,296
NET BOOK VALUE
At 30 April 2024 1 6,201 - 6,202
At 30 April 2023 1 3,208 - 3,209

Rare Gear LLP (Registered number: OC312860)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 5,046 2,246
Other debtors 2,469 2,515
7,515 4,761

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 3,168 5,552
Taxation and social security 4,499 1,085
Other creditors 1,750 1,750
9,417 8,387

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S S Shah.