Limited Liability Partnership registration number OC308726 (England and Wales)
Securex Doors LLP
Annual report and unaudited financial statements
For the year ended 31 July 2024
Securex Doors LLP
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
5 - 7
Securex Doors LLP
Statement of financial position
As at 31 July 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
4,445
9,006
Current assets
Trade and other receivables
5
281,535
197,725
Cash and cash equivalents
12,810
35,587
294,345
233,312
Current liabilities
6
(251,829)
(169,339)
Net current assets
42,516
63,973
Total assets less current liabilities
46,961
72,979
Non-current liabilities
7
(10,682)
(21,567)
Net assets attributable to members
36,279
51,412
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
2,175
17,261
Amounts due in respect of profits
(60,481)
(60,481)
Other amounts
60,481
60,481
2,175
17,261
Members' other interests
Other reserves classified as equity
34,104
34,151
36,279
51,412
Total members' interests
Amounts due from members
(60,481)
(60,481)
Loans and other debts due to members
2,175
17,261
Members' other interests
34,104
34,151
(24,202)
(9,069)
Securex Doors LLP
Statement of financial position (continued)
As at 31 July 2024
31 July 2024
- 2 -

For the financial year ended 31 July 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 income statement within the financial statements.

The financial statements were approved by the members and authorised for issue on 27 March 2025 and are signed on their behalf by:
27 March 2025
Mr P P Mulvey
Designated member
Limited Liability Partnership registration number OC308726 (England and Wales)
Securex Doors LLP
Reconciliation of members' interests
For the year ended 31 July 2024
- 3 -
Current financial year
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 (classified as debt)
Other amounts
Total
Total
2024
£
£
£
£
Members' interests at 1 August 2023
34,151
17,261
(60,481)
(43,220)
(9,069)
Profit for the financial year available for discretionary division among members
34,104
-
-
-
34,104
Members' interests after profit for the year
68,255
17,261
(60,481)
(43,220)
25,035
Drawings on account and distributions of profit
-
(15,086)
-
(15,086)
(15,086)
Other movements
(34,151)
-
-
-
(34,151)
Members' interests at 31 July 2024
34,104
2,175
(60,481)
(58,306)
(24,202)
Securex Doors LLP
Reconciliation of members' interests (continued)
For the year ended 31 July 2024
- 4 -
Prior financial year
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 (classified as debt)
Other amounts
Total
Total
2023
£
£
£
£
Members' interests at 1 August 2022
35,046
17,261
(59,525)
(42,264)
(7,218)
Profit for the financial year available for discretionary division among members
34,151
-
-
-
34,151
Members' interests after profit for the year
69,197
17,261
(59,525)
(42,264)
26,933
Drawings on account and distributions of profit
-
-
(956)
(956)
(956)
Other movements
(35,046)
-
-
-
(35,046)
Members' interests at 31 July 2023
34,151
17,261
(60,481)
(43,220)
(9,069)
Securex Doors LLP
Notes to the financial statements
For the year ended 31 July 2024
- 5 -
1
Accounting policies
Limited liability partnership information

Securex Doors LLP is a limited liability partnership incorporated in England and Wales. The LLP's registered number is OC308726 and its registered office is Unit 1 Albert Works, Off Water Street, Radcliffe, Manchester, M26 4DF.

 

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.

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
Revenue

Revenue comprises the aggregate of the fair value of the sales of goods, net of value-added tax, rebates and discounts. Revenue is recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly stated.

1.4
Property, plant and equipment

Property, plant and equipment 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 equipment
20% on cost
Motor vehicles
20% on cost

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 income statement.

Securex Doors LLP
Notes to the financial statements (continued)
For the year ended 31 July 2024
1
Accounting policies
(Continued)
- 6 -
1.5
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.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6

Members' remuneration

The division of profits is discretionary on the part of the LLP.

2
Judgements and key sources of estimation uncertainty

There are no estimates or judgements which the members consider to be material.

3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 August 2023 and 31 July 2024
22,812
Depreciation and impairment
At 1 August 2023
13,806
Depreciation charged in the year
4,561
At 31 July 2024
18,367
Carrying amount
At 31 July 2024
4,445
At 31 July 2023
9,006
Securex Doors LLP
Notes to the financial statements (continued)
For the year ended 31 July 2024
- 7 -
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
221,054
137,244
Amounts owed by members
60,481
60,481
281,535
197,725
6
Current liabilities
2024
2023
£
£
Bank loans
10,000
10,000
Trade payables
216,277
138,730
Taxation and social security
24,002
19,060
Other payables
1,550
1,549
251,829
169,339
7
Non-current liabilities
2024
2023
£
£
Bank loans and overdrafts
10,682
21,567

Bank loans are secured by way of a fixed and floating charge over the assets of the LLP.

8
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.

9
Events after the reporting date

The trading profit generated in the year is allocated to the members subsequent to the year end date.

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