Limited Liability Partnership registration number OC414593 (England and Wales)
Stretton Marine LLP
Annual report and unaudited financial statements
For the period ended 31 January 2024
Stretton Marine LLP
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
Stretton Marine LLP
Balance sheet
As at 31 January 2024
- 1 -
31 January 2024
14 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
1,336,590
Current assets
Debtors
4
378
5,760
Cash at bank and in hand
1,394
5,527
1,772
11,287
Creditors: amounts falling due within one year
5
(1,500)
(6,359)
Net current assets
272
4,928
Total assets less current liabilities and net assets attributable to members
272
1,341,518
Represented by:
Loans and other debts due to members within one year
6
Members' capital classified as a liability
868,037
1,343,443
Members' other interests
6
Other reserves classified as equity
(867,765)
(1,925)
272
1,341,518

For the financial period ended 31 January 2024 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 12 February 2025 and are signed on their behalf by:
12 February 2025
M E Eckert
Designated member
Limited Liability Partnership registration number OC414593 (England and Wales)
Stretton Marine LLP
Statement of changes in equity
For the period ended 31 January 2024
- 2 -
Revaluation reserve
Other reserves
Total
£
£
£
Balance at 1 January 2022
-
(852,780)
(852,780)
Period ended 14 February 2023:
Loss for the period
-
(16,299)
(16,299)
Other comprehensive income:
Revaluation of land and buildings
486,590
-
486,590
Total comprehensive income for the period
486,590
(16,299)
470,291
Other division of profits
-
867,154
867,154
Other movements
(486,590)
-
(486,590)
Balance at 14 February 2023
-
(1,925)
(1,925)
Period ended 31 January 2024:
Loss and total comprehensive income for the period
-
(865,840)
(865,840)
Balance at 31 January 2024
-
(867,765)
(867,765)
Stretton Marine LLP
Notes to the financial statements
For the period ended 31 January 2024
- 3 -
1
Accounting policies
Limited liability partnership information

Stretton Marine LLP is a limited liability partnership incorporated in England and Wales. The registered office is 17 Alvaston Business Park, Middlewich Road, Nantwich, Cheshire, CW5 6PF. The company's business address is Industriering 20, 9491 Ruggell, Lichtenstein.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

These financial statements are for the period 15 February 2023 to 31 January 2024. The comparative figures are for the period 1 January 2022 to 14 February 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of plant and machinery. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents the amounts recoverable for the services provided to customers, excluding value added tax, under contractual obligations which are performed gradually over time.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Stretton Marine LLP
Notes to the financial statements (continued)
For the period ended 31 January 2024
1
Accounting policies
(Continued)
- 4 -

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
Depreciated over 5 years on an accelerated basis to reflect a higher charge in earlier years. Smaller items of plant & equipment are depreciated over 2 years straight line.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2024
2023
Number
Number
Total
-
0
-
0
Stretton Marine LLP
Notes to the financial statements (continued)
For the period ended 31 January 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost or valuation
At 15 February 2023
1,336,590
Disposals
(1,336,590)
At 31 January 2024
-
Depreciation and impairment
At 15 February 2023 and 31 January 2024
-
Carrying amount
At 31 January 2024
-
At 14 February 2023
1,336,590
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
218
-
Other debtors
160
5,760
378
5,760
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
3,554
Other creditors
1,500
2,805
1,500
6,359
Stretton Marine LLP
Notes to the financial statements (continued)
For the period ended 31 January 2024
- 6 -
6
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Members' capital
Total
Total
2024
£
£
£
Members' interests at 15 February 2023
(1,925)
1,343,443
1,343,443
1,341,518
Loss for the period available for discretionary division among members
(865,840)
-
-
(865,840)
Members' interests after loss for the period
(867,765)
1,343,443
1,343,443
475,678
Introduced by members
-
404,107
404,107
404,107
Repayment of debt (including members' capital classified as a liability)
-
(879,513)
(879,513)
(879,513)
Members' interests at 31 January 2024
(867,765)
868,037
868,037
272

There are no restrictions or limitations which affect the ability of the members to reduce the amount of 'Members' other interests'.

 

There is no protection afforded to creditors in the event of a winding up.

7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

2024-01-312023-02-15false12 February 2025CCH SoftwareCCH Accounts Production 2024.200falsefalseOC4145932023-02-152024-01-31OC4145932024-01-31OC4145932023-02-14OC414593bus:PartnerLLP12023-02-152024-01-31OC4145932022-01-012023-02-14OC414593bus:LimitedLiabilityPartnershipLLP2023-02-152024-01-31OC414593bus:SmallCompaniesRegimeForAccounts2023-02-152024-01-31OC414593bus:FRS1022023-02-152024-01-31OC414593bus:AuditExemptWithAccountantsReport2023-02-152024-01-31OC414593bus:FullAccounts2023-02-152024-01-31xbrli:purexbrli:sharesiso4217:GBP