Registered number: OC300776 | ||||||||
FOR THE 183 DAY PERIOD ENDED 31/03/2024 | ||||||||
Prepared By: | ||||||||
David A Hopkins | ||||||||
Chartered Accountant | ||||||||
7 King Street | ||||||||
Wrexham | ||||||||
LL11 1HF |
Smith Grant LLP | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Report of the Members | - | |||||||
Report of the Accountants | - | |||||||
Profit and Loss Account | - | |||||||
Balance Sheet | 3 | |||||||
Notes to the Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading and Profit and Loss Account | - | |||||||
Profit and Loss Account Summaries | - | |||||||
Capital Accounts | - | |||||||
Current Accounts | - | |||||||
Smith Grant LLP | ||||||||
ACCOUNTS | ||||||||
FOR THE 183 DAY PERIOD ENDED 31/03/2024 | ||||||||
DESIGNATED MEMBERS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY NUMBER | ||||||||
ACCOUNTANTS | ||||||||
David A Hopkins | ||||||||
Chartered Accountant | ||||||||
7 King Street | ||||||||
Wrexham | ||||||||
LL11 1HF |
Smith Grant LLP | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 2 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | 1c | |||||||||
Debtors | 3 | |||||||||
Cash at bank and in hand | ||||||||||
285,667 | 265,546 | |||||||||
CREDITORS: Amounts falling due within one year | ||||||||||
NET CURRENT ASSETS | 184,670 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than oneyear | 5 | 21,713 | - | |||||||
NET ASSETS ATTRIBUTABLE TO MEMBERS | 219,712 | 204,791 | ||||||||
LOANS AND OTHER DEBTS DUE TO MEMBERS | 219,712 | 204,791 | ||||||||
MEMBERS ' OTHER INTERESTS | ||||||||||
219,712 | 204,791 | |||||||||
TOTAL MEMBERS' INTERESTS | ||||||||||
Loans and other debts due to members | 219,712 | 204,791 | ||||||||
219,712 | 204,791 | |||||||||
Approved by the members on | ||||||||||
............................. | ||||||||||
Designated Member | ||||||||||
Smith Grant LLP | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE 183 DAY PERIOD ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. |
1b. Depreciation | ||||||||
Commercial Vehicles | reducing balance 20% | |||||||
Equipment | reducing balance 20% |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). 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 stocks recognised as an expense in the period in which the reversal occurs. |
1d. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. |
Smith Grant LLP | ||||||||
2. TANGIBLE FIXED ASSETS | ||||||
Commercial | ||||||
Vehicles | Equipment | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/10/2023 | 41,320 | 87,293 | 128,613 | |||
Additions | 26,524 | - | 26,524 | |||
Disposals | (29,495) | - | (29,495) | |||
At 31/03/2024 | 38,349 | 87,293 | 125,642 | |||
Depreciation | ||||||
At 01/10/2023 | 28,394 | 80,098 | 108,492 | |||
Disposals | (22,967) | - | (22,967) | |||
For the 183 day period | 2,275 | 881 | 3,156 | |||
At 31/03/2024 | 7,702 | 80,979 | 88,681 | |||
Net Book Amounts | ||||||
At 31/03/2024 | 36,961 | |||||
At 30/09/2023 | 20,121 | |||||
3. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year: | ||||||||
Trade debtors | 151,445 | 133,491 | ||||||
151,445 | 133,491 | |||||||
4. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | 3 | |||||
Smith Grant LLP | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Other creditors | 21,713 | - | ||||||
21,713 | - | |||||||
Included in other creditors are: | ||||||||
Obligations under hire purchase | 21,713 | - | ||||||
6. PARTNER RETIRING OR CEASING (EXTRACT FROM PARTNERSHIP AGREEMENT) | ||||||||
21.1. In the event that any Member shall on a date other than an Year End Date die orretire or be deemed to retire or be expelled then | ||||||||
21.1.1. he shall not be entitled to receive any share of the profit of the LLP from the date of his ceasing to be a Member | ||||||||
21.1.2. the LLP shall not be obliged to prepare any accounts other than the accounts which would normally be prepared at the next Year End Date | ||||||||
21.1.3. for the purpose of ascertaining the amount of the Member's Share of the Member in question the profits of the LLP in such accounts shall be apportioned on a time basis in respect of the periods before and after his death retirement or expulsion. |
7. PROFIT SHARE | ||||||||
01.10.23 - 31.03.24 | 01.10.22 - 30.09.23 | |||||||
Dr A F Smith | 34.04% | 0.00% | ||||||
Ms K E Hawkins | 39.58% | 65.00% | ||||||
Mr D Wayland | 26.38% | 35.00% | ||||||