Registered number
OC441476
CM Fuel Supply LLP
Filleted Accounts
30 March 2024
CM Fuel Supply LLP
Registered number: OC441476
Balance Sheet
as at 30 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,480 27,395
Current assets
Stocks 8,597 12,750
Debtors 4 5,126 18,678
Cash at bank and in hand 404 2,849
14,127 34,277
Creditors: amounts falling due within one year 5 (12,991) (36,642)
Net current assets/(liabilities) 1,136 (2,365)
Total assets less current liabilities 31,616 25,030
Creditors: amounts falling due after more than one year 6 (47,392) -
Net (liabilities)/assets attributable to members (15,776) 25,030
Represented by:
Members' other interests
Members' capital classified as equity 15,674 25,030
Other reserves (31,450) -
(15,776) 25,030
(15,776) 25,030
Total members' interests
Members' other interests (15,776) 25,030
(15,776) 25,030
For the period ended 30 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 20 December 2024 and signed on their behalf by:
L Morbey
Designated member
CM Fuel Supply LLP
Notes to the Accounts
for the period from 1 April 2023 to 30 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.
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:
Plant and machinery 15% Reducing balance
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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 32,278
Additions 8,500
At 30 March 2024 40,778
Depreciation
At 1 April 2023 4,883
Charge for the period 5,415
At 30 March 2024 10,298
Net book value
At 30 March 2024 30,480
At 31 March 2023 27,395
4 Debtors 2024 2023
£ £
Other debtors 5,126 18,678
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,036 19,133
Obligations under finance lease and hire purchase contracts 4,405 17,009
Other creditors 550 500
12,991 36,642
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 16,700 -
Other creditors 30,692 -
47,392 -
7 Other information
CM Fuel Supply LLP is a limited liability partnership incorporated in England. Its registered office is:
Newcroft Meadow Farm
Torbay Road
Urmston
Greater Manchester
M41 9WL
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