Registered No. OC377867 (England and Wales)
ARCH LEISURE LLP
Unaudited accounts
for the year ended 31 August 2024
ARCH LEISURE LLP
LLP Information
for the year ended 31 August 2024
Designated members
Mrs Glynis Laverick
Registered Number
OC377867 (England and Wales)
Registered Office
Red House
Main Street
Fiskerton
Nottinghamshire
NG25 0UL
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
ARCH LEISURE LLP
Statement of financial position
as at 31 August 2024
Cash at bank and in hand
94,423
53,627
Creditors: amounts falling due within one year
(13,367)
(2,300)
Net current assets
99,631
52,201
Net assets attributable to members
99,731
52,335
Loans and other debts due to members
33,247
(14,149)
Other reserves
66,484
66,484
Loans and other debts due to members
33,247
(14,149)
Members' other interests
66,484
66,484
For the year ending 31 August 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 3 September 2024.
Mr Keith Laverick
Designated member
Limited Liability Partnership Registration No. OC377867
ARCH LEISURE LLP
Notes to the Accounts
for the year ended 31 August 2024
The business model changed in 2023 with turnover numbers and costs-of-sales being replaced with net commissions being paid.
Further, the responsibility of manufacturing and supply to the customer was passed to the manufacturing division.
This change has released funding within the operation and the return in terms of profits has remained at previous year levels without the trading risks of warranties and supply chain issues.
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing balance
As permitted by s230 of the Companies Act as modified for the application to LLP's, the LLP is exempt from presenting it's own profit and loss account. The profit of the LLP for the financial year amounted to £53,320 (2021 £63,868).
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalized and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
ARCH LEISURE LLP
Notes to the Accounts
for the year ended 31 August 2024
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
ARCH LEISURE LLP is a limited liability partnership, incorporated in England and Wales, registration number OC377867. Its registered office is Red House, Main Street, Fiskerton, Nottinghamshire, NG25 0UL.
3
Tangible fixed assets
Fixtures & fittings
4
Creditors: amounts falling due within one year
2024
2023
5
Loans and other debts due to members
2024
2023
Amounts due to members in respect of profits
33,247
(14,149)
Amounts falling due within one year
33,247
(14,149)
The profits for the period was: £57,927 less drawings of some (£10,531) and prior year losses £14,149) leaving a net residue of £33,247 due to partners in the period.
Net allocation to reserves of £0.00
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Capital commitments
2024
2023
No capital commitments as at the balance sheet date.
ARCH LEISURE LLP
Notes to the Accounts
for the year ended 31 August 2024
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).