IRIS Accounts Production v24.3.2.46 OC375850 designated member 1.4.23 31.3.24 31.3.24 0 0 false true false false true false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3758502023-03-31OC3758502024-03-31OC3758502023-04-012024-03-31OC3758502022-03-31OC3758502022-04-012023-03-31OC3758502023-03-31OC375850ns15:EnglandWales2023-04-012024-03-31OC375850ns14:PoundSterling2023-04-012024-03-31OC375850ns10:PartnerLLP12023-04-012024-03-31OC375850ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC375850ns10:SmallEntities2023-04-012024-03-31OC375850ns10:AuditExemptWithAccountantsReport2023-04-012024-03-31OC375850ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC375850ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC375850ns10:FullAccounts2023-04-012024-03-31OC375850ns10:RegisteredOffice2023-04-012024-03-31OC375850ns5:CurrentFinancialInstruments2024-03-31OC375850ns5:CurrentFinancialInstruments2023-03-31OC375850ns5:Non-currentFinancialInstruments2024-03-31OC375850ns5:Non-currentFinancialInstruments2023-03-31OC375850ns5:FurnitureFittings2023-04-012024-03-31OC375850ns5:OwnedAssets2023-04-012024-03-31OC375850ns5:OwnedAssets2022-04-012023-03-31OC375850ns5:FurnitureFittings2023-03-31OC375850ns5:FurnitureFittings2024-03-31OC375850ns5:FurnitureFittings2023-03-31OC375850ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC375850ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31OC375850ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-31OC375850ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-03-31OC375850ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-31OC375850ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-31
REGISTERED NUMBER: OC375850 (England and Wales)















REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SIMPLY LOCAL WILLENHALL LLP

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


SIMPLY LOCAL WILLENHALL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mrs Sukhjit Kaur
Mr Sukhjit Khera





REGISTERED OFFICE: St James Lane
Coventry
West Midlands
CV3 3FU





REGISTERED NUMBER: OC375850 (England and Wales)






SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024


The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of convenience store.

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

Mrs Sukhjit Kaur
Mr Sukhjit Khera

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £35,237 (2023 - £65,121 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mr Sukhjit Khera - Designated member


23 January 2025

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 89,220 144,691

Cost of sales 75,210 87,380
GROSS PROFIT 14,010 57,311

Administrative expenses 16,293 20,559
(2,283 ) 36,752

Other operating income 50,196 45,000
OPERATING PROFIT 4 47,913 81,752


Interest payable and similar expenses 12,676 16,631
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




35,237




65,121

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,850 21,000

CURRENT ASSETS
Stocks 6 - 75,210
Debtors 7 711,225 657,356
Cash at bank 233 217
711,458 732,783
CREDITORS
Amounts falling due within one year 8 242,200 279,551
NET CURRENT ASSETS 469,258 453,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

487,108

474,232

CREDITORS
Amounts falling due after more than one
year

9

291,194

298,103
NET ASSETS ATTRIBUTABLE TO
MEMBERS

195,914

176,129

LOANS AND OTHER DEBTS DUE TO
MEMBERS

195,914

176,129

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 195,914 176,129

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 31 March 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.

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

BALANCE SHEET - continued
31 MARCH 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 23 January 2025 and were signed by:





Mr Sukhjit Khera - Designated member

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Simply Local Willenhall LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

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.

3. EMPLOYEE INFORMATION

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

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 3,150 3,706

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 89,932
DEPRECIATION
At 1 April 2023 68,932
Charge for year 3,150
At 31 March 2024 72,082
NET BOOK VALUE
At 31 March 2024 17,850
At 31 March 2023 21,000

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks - 75,210

7. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Prepayments and accrued income 2,460 8,850

Amounts falling due after more than one year:
Amounts owed by group undertakings - 648,506
Amounts owed by associates 708,765 -
708,765 648,506

Aggregate amounts 711,225 657,356

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 10) 148,920 177,787
Social security and other taxes 20,799 32,838
VAT 70,981 65,776
Accrued expenses 1,500 3,150
242,200 279,551

SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 10) 291,194 298,103

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 123,049 158,811

10. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 99,960 99,907
Bank loans - less than 1 yr 48,960 47,520
Bank loans - less than 1 yr - 30,360
148,920 177,787

Amounts falling due between one and two years:
Bank loans - 1-2 years 48,960 17,160

Amounts falling due between two and five years:
Bank loans - 2-5 years 119,185 122,132

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 123,049 158,811