Company No:
Contents
Note | 03.04.2024 | 03.04.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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9,780 | 12,225 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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864 | 20,226 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (29,683) | (6,987) | ||
Total assets less current liabilities | (19,903) | 5,238 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net liabilities attributable to members | (
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Represented by | ||||
Members' other interests | ||||
Members' capital classified as equity | (66,408) | (68,284) | ||
Other reserves | 39,096 | 60,503 | ||
(27,312) | (7,781) | |||
(27,312) | (7,781) | |||
Total members' interests | ||||
Members' other interests | (27,312) | (7,781) | ||
(27,312) | (7,781) |
Members' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of CC Young Horse Specialist LLP (registered number:
Mrs C Found
Designated member |
Mr E J W Found
Designated member |
EQUITY Members' other interests |
Total members' interests | |||
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Members' capital (classified as equity) | Other reserves | Total | Total | |
£ | £ | £ | £ | |
Balance at 05 April 2022 | (44,299) | 27,024 | (17,275) | (17,275) |
Profit for the financial year/period available for discretionary division among members | 0 | 33,479 | 33,479 | 33,479 |
Members' interest after profit for the financial year/period | (44,299) | 60,503 | 16,204 | 16,204 |
Introduced by members | 1,000 | 0 | 1,000 | 1,000 |
Repayment of capital | (24,985) | 0 | (24,985) | (24,985) |
Balance at 03 April 2023 | (68,284) | 60,503 | (7,781) | (7,781) |
Loss for the financial year/period available for discretionary division among members | 0 | (21,407) | (21,407) | (21,407) |
Members' interest after loss for the financial year/period | (68,284) | 39,096 | (29,188) | (29,188) |
Introduced by members | 20,826 | 0 | 20,826 | 20,826 |
Repayment of capital | (18,950) | 0 | (18,950) | (18,950) |
Balance at 03 April 2024 | (66,408) | 39,096 | (27,312) | (27,312) |
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
CC Young Horse Specialist LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2018 (SORP 2018).
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Plant and machinery |
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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 credited or charged to profit or loss.
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
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.
The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.
Year ended 03.04.2024 |
Period from 05.04.2022 to 03.04.2023 |
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Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.
03.04.2024 | 03.04.2023 | ||
Number | Number | ||
Average number of members during the financial year | 2 | 2 |
Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 04 April 2023 |
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At 03 April 2024 |
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Accumulated depreciation | |||
At 04 April 2023 |
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Charge for the financial year |
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At 03 April 2024 |
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Net book value | |||
At 03 April 2024 |
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At 03 April 2023 |
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03.04.2024 | 03.04.2023 | ||
£ | £ | ||
Trade debtors |
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03.04.2024 | 03.04.2023 | ||
£ | £ | ||
Bank loans |
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Accruals |
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Other taxation and social security |
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Other creditors |
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03.04.2024 | 03.04.2023 | ||
£ | £ | ||
Bank loans |
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