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Registered number: NC001225
PAINTWORKS (N.I.) LLP
Unaudited Financial Statements
For The Year Ended 31 January 2025
CG Accounts
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3
Page 1
Balance Sheet
Registered number: NC001225
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 20,084 -
Cash at bank and in hand 397,639 320,517
417,723 320,517
Creditors: Amounts Falling Due Within One Year 5 (12,345 ) -
NET CURRENT ASSETS (LIABILITIES) 405,378 320,517
TOTAL ASSETS LESS CURRENT LIABILITIES 405,378 320,517
NET ASSETS ATTRIBUTABLE TO MEMBERS 405,378 320,517
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 405,377 320,516
405,377 320,516
Equity
Members' other interests
Other reserves 1 1
1 1
405,378 320,517
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 405,377 320,516
Members' other interests 1 1
405,378 320,517
Page 1
Page 2
For the year ending 31 January 2025 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Danielle Donaghy
Designated Member
08/04/2025
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
PAINTWORKS (N.I.) LLP is a limited liability partnership, incorporated in Northern Ireland, registered number NC001225 . The Registered Office is 25 Cornmill Avenue, Millisle, BT22 2GN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 4 (2024: 1)
4 1
4. Debtors
2025 2024
£ £
Due within one year
Trade debtors 20,084 -
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 12,345 -
Page 3