REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
SIMPLY LOCAL WILLENHALL LLP |
REGISTERED NUMBER: |
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 |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
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: |
SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(2,283 | ) | 36,752 |
Other operating income |
OPERATING PROFIT | 4 |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
SIMPLY LOCAL WILLENHALL LLP (REGISTERED NUMBER: OC375850) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
Fixtures and fittings | - |
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 |
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 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | STOCKS |
31.3.24 | 31.3.23 |
£ | £ |
Stocks |
7. | DEBTORS |
31.3.24 | 31.3.23 |
£ | £ |
Amounts falling due within one year: |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Amounts owed by associates |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts (see note 10) |
Social security and other taxes |
VAT | 70,981 | 65,776 |
Accrued expenses |
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) |
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 |
Bank loans - less than 1 yr |
Bank loans - less than 1 yr | - | 30,360 |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 123,049 | 158,811 |