Registered number
OC417019
BRANDS WEST LLP
Filleted Accounts
31 March 2024
BRANDS WEST LLP
Registered number: OC417019
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 185,819 179,880
Current assets
Stocks 33,715 28,230
Debtors 4 161,273 24,475
Cash at bank and in hand 40,365 41,739
235,353 94,444
Creditors: amounts falling due within one year 5 (171,866) (189,319)
Net current assets/(liabilities) 63,487 (94,875)
Total assets less current liabilities 249,306 85,005
Net assets attributable to members 249,306 85,005
Represented by:
Loans and other debts due to members 6 249,303 85,002
Members' other interests
Members' capital classified as equity 3 3
249,306 85,005
Total members' interests
Loans and other debts due to members 6 249,303 85,002
Members' other interests 3 3
249,306 85,005
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 15 January 2025 and signed on their behalf by:
Mr Hamza Asmi Darr
Designated member
BRANDS WEST LLP
Notes to the Accounts
for the period from 1 August 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment 10% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 34 22
3 Tangible fixed assets
Fixtures and equipment
£
Cost
At 1 August 2023 207,752
Additions 26,586
At 31 March 2024 234,338
Depreciation
At 1 August 2023 27,872
Charge for the period 20,647
At 31 March 2024 48,519
Net book value
At 31 March 2024 185,819
At 31 July 2023 179,880
4 Debtors 2024 2023
£ £
Trade debtors 45,882 24,475
Other debtors 115,391 -
161,273 24,475
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 171,304 161,490
Other taxes and social security costs 562 27,829
171,866 189,319
6 Loans and other debts due to members 2024 2023
£ £
Amounts due to members in respect of profits 249,303 85,002
Amounts falling due within one year 249,303 85,002
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
BRANDS WEST LLP is a limited liability partnership incorporated in England. Its registered office is:
Rashid House
Westgate
Bradford
West Yorkshire
BD1 3AA
BRANDS WEST LLP OC417019 false 2023-08-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr Hamza Asmi Darr No description of principal activity OC417019 2022-08-01 2023-07-31 OC417019 core:WithinOneYear 2023-07-31 OC417019 1 2023-07-31 OC417019 core:ShareCapital 2023-07-31 OC417019 2023-08-01 2024-03-31 OC417019 bus:LimitedLiabilityPartnershipLLP 2023-08-01 2024-03-31 OC417019 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-03-31 OC417019 bus:PartnerLLP20 2023-08-01 2024-03-31 OC417019 3 2023-08-01 2024-03-31 OC417019 1 2023-08-01 2024-03-31 OC417019 2 2023-08-01 2024-03-31 OC417019 4 2023-08-01 2024-03-31 OC417019 core:PlantMachinery 2023-08-01 2024-03-31 OC417019 countries:England 2023-08-01 2024-03-31 OC417019 bus:FRS102 2023-08-01 2024-03-31 OC417019 bus:FilletedAccounts 2023-08-01 2024-03-31 OC417019 2024-03-31 OC417019 core:WithinOneYear 2024-03-31 OC417019 1 2024-03-31 OC417019 core:ShareCapital 2024-03-31 OC417019 core:PlantMachinery 2024-03-31 OC417019 2023-07-31 OC417019 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure