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REGISTERED NUMBER: OC386252 (England and Wales)















Report of the Members and

Unaudited Financial Statements For The Year Ended 30 June 2024

for

Moto-Classic LLP

Moto-Classic LLP (Registered number: OC386252)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Moto-Classic LLP

General Information
For The Year Ended 30 June 2024







DESIGNATED MEMBERS: D J Wise
H J A Wise
Wb & E Investments Limited





REGISTERED OFFICE: Oak Farm Nursery
Station Hill
Winchfield
Hampshire
RG27 8BX





REGISTERED NUMBER: OC386252 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

Moto-Classic LLP (Registered number: OC386252)

Report of the Members
For The Year Ended 30 June 2024

The members present their report with the financial statements of the LLP for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of vintage & classic motorcycle sales.

DESIGNATED MEMBERS
The designated members during the year under review were:

D J Wise
H J A Wise
Wb & E Investments Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £2,201 (2023 - £6,915 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





D J Wise - Designated member


4 February 2025

Moto-Classic LLP (Registered number: OC386252)

Income Statement
For The Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 111,774 104,214

Cost of sales 54,593 66,523
GROSS PROFIT 57,181 37,691

Administrative expenses 53,950 44,085
OPERATING PROFIT/(LOSS) 4 3,231 (6,394 )


Interest payable and similar expenses 1,030 521
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





2,201





(6,915





)

Moto-Classic LLP (Registered number: OC386252)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,872 3,038

CURRENT ASSETS
Stocks 253,904 246,223
Debtors 6 60,869 12,704
Cash at bank 29,010 31,689
343,783 290,616
CREDITORS
Amounts falling due within one year 7 26,876 10,663
NET CURRENT ASSETS 316,907 279,953
TOTAL ASSETS LESS CURRENT
LIABILITIES

318,779

282,991

CREDITORS
Amounts falling due after more than one
year

8

36,040

36,900
NET ASSETS ATTRIBUTABLE TO
MEMBERS

282,739

246,091

LOANS AND OTHER DEBTS DUE TO
MEMBERS

282,739

246,091

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 282,739 246,091
Amounts due from members 6 (1,549 ) (1,215 )
281,190 244,876

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 year ended 30 June 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.

Moto-Classic LLP (Registered number: OC386252)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 4 February 2025 and were signed by:





D J Wise - Designated member

Moto-Classic LLP (Registered number: OC386252)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Moto-Classic LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 and is recognised as services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

Moto-Classic LLP (Registered number: OC386252)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. OPERATING PROFIT/(LOSS)

The operating profit (2023 - operating loss) is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 3,166 4,966

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 11,474 8,144 805 20,423
Additions 364 561 1,075 2,000
At 30 June 2024 11,838 8,705 1,880 22,423
DEPRECIATION
At 1 July 2023 8,601 8,041 743 17,385
Charge for year 2,874 109 183 3,166
At 30 June 2024 11,475 8,150 926 20,551
NET BOOK VALUE
At 30 June 2024 363 555 954 1,872
At 30 June 2023 2,873 103 62 3,038

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 3,070 4,827
Amounts due from members 1,549 1,215
Other debtors 808 517
VAT 603 135
Prepayments 54,839 6,010
60,869 12,704

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 9,325 4,999
Trade creditors 7,037 1,888
Social security and other taxes 60 -
Other creditors 458 -
Accruals and deferred income 9,996 3,776
26,876 10,663

Moto-Classic LLP (Registered number: OC386252)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Other creditors 36,040 36,900