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Registration number: OC350999

The Pleshey Construction Company LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

The Pleshey Construction Company LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 6

Balance Sheet

2

Notes to the Financial Statements

3

 

The Pleshey Construction Company LLP

Limited liability partnership information

Designated members

J Buttleman

L Knevett

L M Darlington

H M Darlington
 

Registered office

The Barn
Woods Farm
Grange road
Pleshey
Chelmsford
Essex
CM3 1HZ

Bankers

TSB
11 High Street
Dunmow
Essex
CM6 1AB

Accountants

Lambert Chapman LLP
Chartered Accountants and Statutory Auditors
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

The Pleshey Construction Company LLP

(Registration number: OC350999)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

105,955

142,559

Current assets

 

Stocks

4

-

1,504

Debtors

5

250,357

126,037

Cash and short-term deposits

 

69,133

487,027

 

319,490

614,568

Creditors: Amounts falling due within one year

6

(182,103)

(478,057)

Net current assets

 

137,387

136,511

Net assets attributable to members

 

243,342

279,070

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

243,342

279,070

   

243,342

279,070

Total members' interests

 

Loans and other debts due to members

 

243,342

279,070

   

243,342

279,070

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of The Pleshey Construction Company LLP (registered number OC350999) were approved by the Board and authorised for issue on 10 February 2025. They were signed on behalf of the limited liability partnership by:

.........................................
H M Darlington
Designated member

 

The Pleshey Construction Company LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Reclassification of comparative amounts

In the prior year amounts posted to wages have been reclassified as partner drawings. As a result the profit has increased by £15,580. There has been no impact on the balance sheet.

Revenue recognition

Revenue is recognised on the provision of management services provided. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Members' remuneration and division of profits

Members' fixed shares of profits and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less and subsequent accumulated depreciation.

 

The Pleshey Construction Company LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged to write off the cost of assets over their useful economic lives as follows:

Asset class

Depreciation method and rate

Plant & machinery

25% Reducing balance

Motor vehicles

25% Reducing balance

Trade debtors

Trade debtors are amounts due from customers for management services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs).

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to setlle on a net basis, or to relaise the asset and setlle the liability simultaneously.

Impairment of financial assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limite dliabilty partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and reards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expries.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 6 (2023 - 6).

 

The Pleshey Construction Company LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

3

Tangible fixed assets

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost

At 1 April 2023

81,384

275,167

356,551

Disposals

-

(17,141)

(17,141)

At 31 March 2024

81,384

258,026

339,410

Depreciation

At 1 April 2023

65,855

148,137

213,992

Charge for the year

3,882

31,650

35,532

Eliminated on disposals

-

(16,069)

(16,069)

At 31 March 2024

69,737

163,718

233,455

Net book value

At 31 March 2024

11,647

94,308

105,955

At 31 March 2023

15,529

127,030

142,559

4

Stocks

2024
£

2023
£

Work in progress

-

1,504

5

Debtors

2024
£

2023
£

Trade debtors

30,939

126,037

Other debtors

212,308

-

Prepayments and accrued income

7,110

-

250,357

126,037

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

151,352

70,628

Other creditors

13,086

349,001

Taxation and social security

15,485

52,405

Accruals and deferred income

2,180

6,023

182,103

478,057

 

The Pleshey Construction Company LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £2,420 (2023 - £Nil).