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REGISTERED NUMBER: OC428635 (England and Wales)






















Unaudited Financial Statements

for the Period 1 May 2023 to 31 March 2024

for

R L & P R Latham LLP

R L & P R Latham LLP (Registered number: OC428635)






Contents of the Financial Statements
for the period 1 May 2023 to 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

R L & P R Latham LLP

General Information
for the period 1 May 2023 to 31 March 2024







DESIGNATED MEMBERS: R L Latham
P R Latham





REGISTERED OFFICE: Organsdale Farm
Organsdale
Kelsall
Tarporley
Cheshire
CW6 0SR





REGISTERED NUMBER: OC428635 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

R L & P R Latham LLP (Registered number: OC428635)

Balance Sheet
31 March 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 7,354,627 7,444,134

CURRENT ASSETS
Stocks 383,394 380,394
Debtors 5 195,941 241,080
Cash at bank and in hand 17,821 167,234
597,156 788,708
CREDITORS
Amounts falling due within one year 6 (997,156 ) (888,598 )
NET CURRENT LIABILITIES (400,000 ) (99,890 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,954,627

7,344,244

CREDITORS
Amounts falling due after more than one year 7 (3,411,968 ) (3,538,548 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,542,659

3,805,696

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

3,542,659

3,805,696

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 3,542,659 3,805,696

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.

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 29 January 2025 and were signed by:





P R Latham - Designated member

R L & P R Latham LLP (Registered number: OC428635)

Notes to the Financial Statements
for the period 1 May 2023 to 31 March 2024

1. STATUTORY INFORMATION

R L & P R Latham 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
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:


Freehold property - not provided
Improvements to property- 5% on reducing balance
Plant and machinery- 20% on reducing balance
Fixtures and fittings- 15% on reducing balance
Motor vehicles- 25% on reducing balance
Computer equipment- 33% 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
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.

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

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 35 (2023 - 30 ) .

R L & P R Latham LLP (Registered number: OC428635)

Notes to the Financial Statements - continued
for the period 1 May 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 May 2023 2,006,614 6,040,205 8,046,819
Additions - 204,054 204,054
Disposals - (29,440 ) (29,440 )
At 31 March 2024 2,006,614 6,214,819 8,221,433
DEPRECIATION
At 1 May 2023 - 602,685 602,685
Charge for period - 278,488 278,488
Eliminated on disposal - (14,367 ) (14,367 )
At 31 March 2024 - 866,806 866,806
NET BOOK VALUE
At 31 March 2024 2,006,614 5,348,013 7,354,627
At 30 April 2023 2,006,614 5,437,520 7,444,134

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£
COST
Additions 58,000
At 31 March 2024 58,000
DEPRECIATION
Charge for period 6,767
At 31 March 2024 6,767
NET BOOK VALUE
At 31 March 2024 51,233

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 161,726 193,685
Other debtors 34,215 47,395
195,941 241,080

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 411,368 167,001
Hire purchase contracts 7,148 -
Trade creditors 349,932 417,080
Taxation and social security 11,542 10,755
Other creditors 217,166 293,762
997,156 888,598

R L & P R Latham LLP (Registered number: OC428635)

Notes to the Financial Statements - continued
for the period 1 May 2023 to 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Hire purchase contracts 24,743 -
Other creditors 3,387,225 3,538,548
3,411,968 3,538,548

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 31,891 -

Assets financed under a hire purchase arrangement are secured against the assets acquired.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank after other creditors.

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
R L & P R Latham LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of R L & P R Latham LLP for the period ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of R L & P R Latham LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R L & P R Latham LLP and state those matters that we have agreed to state to the members of R L & P R Latham LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R L & P R Latham LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that R L & P R Latham LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of R L & P R Latham LLP. You consider that R L & P R Latham LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of R L & P R Latham LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


29 January 2025