Registered number
OC331265
Harmil LLP
Filleted Accounts
31 March 2024
Harmil LLP
Registered number: OC331265
Balance Sheet
as at 31 March 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 51,746 78,681
Current assets
Stocks 3,100 3,100
Debtors 4 67,113 18,147
Cash at bank and in hand 20,118 8,278
90,331 29,525
Creditors: amounts falling due within one year 5 (49,547) (38,906)
Net current assets/(liabilities) 40,784 (9,381)
Total assets less current liabilities 92,530 69,300
Net assets attributable to members 92,530 69,300
Represented by:
Loans and other debts due to members 6 69,988 58,826
Members' other interests
Other reserves 22,542 10,474
92,530 69,300
Total members' interests
Loans and other debts due to members 6 69,988 58,826
Members' other interests 22,542 10,474
92,530 69,300
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 22 January 2025 and signed on their behalf by:
Mr Shane Tate
Designated member
Harmil LLP
Notes to the Accounts
for the period from 1 October 2022 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:
Plant and machinery 25% on cost
Motor vehicles 25% on cost
Fixtures & fittings 25% on cost
Computer equipment 25% on cost
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the LLP 3 3
3 Tangible fixed assets
Office equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2022 23,712 18,455 82,170 124,337
Additions - 5,600 15,815 21,415
Disposals - - (13,670) (13,670)
At 31 March 2024 23,712 24,055 84,315 132,082
Depreciation
At 1 October 2022 19,187 8,790 17,679 45,656
Charge for the period 3,409 7,342 31,618 42,369
On disposals - - (7,689) (7,689)
At 31 March 2024 22,596 16,132 41,608 80,336
Net book value
At 31 March 2024 1,116 7,923 42,707 51,746
At 30 September 2022 4,525 9,665 64,491 78,681
4 Debtors 2024 2022
£ £
Trade debtors - 12,000
Other debtors 67,113 6,147
67,113 18,147
5 Creditors: amounts falling due within one year 2024 2022
£ £
Trade creditors 36,211 30,861
Other creditors 13,336 8,045
49,547 38,906
6 Loans and other debts due to members 2024 2022
£ £
Amounts due to members in respect of profits 69,988 58,826
Amounts falling due within one year 69,988 58,826
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Harmil LLP is a limited liability partnership incorporated in England. Its registered office is:
Osborne House
20 Victoria Avenue
Harrogate
North Yorkshire
HG1 5QY
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