Limited Liability Partnership registration number OC326241 (England and Wales)
AFFORDABLE CARS OF KENT LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
AFFORDABLE CARS OF KENT LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AFFORDABLE CARS OF KENT LLP
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,124
-
Current assets
Stocks
174,699
147,287
Debtors
4
23,811
7,355
Cash at bank and in hand
129,431
161,492
327,941
316,134
Creditors: amounts falling due within one year
5
(119,711)
(101,497)
Net current assets
208,230
214,637
Total assets less current liabilities
209,354
214,637
Creditors: amounts falling due after more than one year
6
(33,998)
(39,517)
Net assets attributable to members
175,356
175,120
Represented by:
Loans and other debts due to members within one year
7
Amounts due in respect of profits
175,356
175,120
Total members' interests
7
Loans and other debts due to members
175,356
175,120

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

AFFORDABLE CARS OF KENT LLP
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 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 financial statements were approved by the members and authorised for issue on 31 January 2025 and are signed on their behalf by:
31 January 2025
N D Roberts
Designated member
Limited Liability Partnership Registration No. OC326241
AFFORDABLE CARS OF KENT LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Limited liability partnership information

Affordable Cars Of Kent LLP is a limited liability partnership incorporated in England and Wales. The registered office is Unit 28 Castleview Business Centre, Gas House Road, Rochester, Kent, ME1 1PB.

 

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

1.1
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. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus the members continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

1.4
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.

Plant and machinery
-25% on reducing balance

 

 

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

AFFORDABLE CARS OF KENT LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
-
Additions
1,499
At 31 March 2024
1,499
Depreciation and impairment
At 1 April 2023
-
Depreciation charged in the year
375
At 31 March 2024
375
Carrying amount
At 31 March 2024
1,124
At 31 March 2023
-
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,971
-
Other debtors
5,840
7,355
23,811
7,355
AFFORDABLE CARS OF KENT LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
85,369
55,872
Taxation and social security
17,764
21,601
Other creditors
16,578
24,024
119,711
101,497
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
33,998
39,517
7
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
Other amounts
Total
Total
2024
£
£
£
£
Members' interests at 1 April 2023
-
175,120
175,120
175,120
Profit for the financial year available for discretionary division among members
97,279
-
-
97,279
Members' interests after profit for the year
97,279
175,120
175,120
272,399
Allocation of profit for the financial year
(97,279)
97,279
97,279
-
Drawings on account and distributions of profit
-
(97,043)
(97,043)
(97,043)
Members' interests at 31 March 2024
-
175,356
175,356
175,356
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