The Frog and Nightgown Pub LLP Filleted Accounts Cover
The Frog and Nightgown Pub LLP
Registered No. OC411567
Information for Filing with the Registrar
30 April 2024
The Frog and Nightgown Pub LLP Balance Sheet Registrar
at
30 April 2024
Registered No.
OC411567
Notes
2024
2023
£
£
Fixed assets
Tangible assets
5
28,497
40,244
28,497
40,244
Current assets
Stocks
6
9,734
8,112
Debtors
7
1,950
1,950
Cash at bank and in hand
79,103
93,504
90,787
103,566
Creditors: Amounts falling due within one year
8
(68,063)
(64,009)
Net current assets
22,724
39,557
Total assets less current liabilities
51,221
79,801
Net assets attributable to members
51,221
79,801
Represented by:
Loans and other debts due to members
51,221
79,801
Members' other interests
51,221
79,801
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 30 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) 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.
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the members on 29 January 2025 and signed on its behalf by:
L. Gatt
Designated member
29 January 2025
The Frog and Nightgown Pub LLP Notes to the Accounts Registrar
for the year ended 30 April 2024
1
General information
The Frog and Nightgown Pub LLP is a limited liability partnership and incorporated in England and Wales.
Its registered number is: OC411567
Its registered office is:
Wimland Road
Faygate
West Sussex
RH12 4SS
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Members' remuneration and division of profits
Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Leasehold land and buildings
10% on cost
Furniture, fittings and equipment
20% on cost
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.
Members' Interests
Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
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.
Defined contribution pensions
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
3
Information in relation to members
2024
2023
Number
Number
The average number of members during the year :
3
3
2024
2023
£
£
Automatic division of profits
(17,428)
(1,865)
(17,428)
(1,865)
4
Employees
2024
2023
Number
Number
The average number of persons employed during the year was:
17
16
5
Tangible fixed assets
Land and buildings
Motor vehicles
Fixtures, fittings and equipment
Total
£
£
£
£
Cost
At 1 May 2023
66,95120,77048,951136,672
Additions
3,891-4,4398,330
At 30 April 2024
70,84220,77053,390145,002
Depreciation
At 1 May 2023
35,96111,51648,95196,428
Charge for the year
7,0852,31410,67820,077
At 30 April 2024
43,04613,83059,629116,505
Net book values
At 30 April 2024
27,7966,940
(6,239)
28,497
At 30 April 2023
30,990
9,254
-
40,244
6
Stocks
2024
2023
£
£
Finished goods
9,7348,112
9,7348,112
7
Debtors
2024
2023
£
£
Prepayments and accrued income
1,9501,950
1,9501,950
8
Creditors:
amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
--
Trade creditors
33,04232,905
Other taxes and social security
28,82228,188
Accruals and deferred income
6,1992,916
68,06364,009
9
Loans and other debts due to members
2024
2023
£
£
Members' capital classified as a liability
70,000
70,000
Amounts due to members in respect of profits
(18,779)
9,801
51,221
79,801
Amounts falling due within one year
51,221
-
51,221
79,801
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