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REGISTERED NUMBER: OC352448 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 31 AUGUST 2023 TO 31 MARCH 2024

FOR

X8M LLP

X8M LLP (REGISTERED NUMBER: OC352448)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 31 August 2023 to 31 March 2024




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


X8M LLP

GENERAL INFORMATION
for the period 31 August 2023 to 31 March 2024







DESIGNATED MEMBERS: Mr A P C Williams
Mrs J L Williams





REGISTERED OFFICE: Bramble Barn
Mill Lane
Weybread
Diss
Norfolk
IP21 5RS





REGISTERED NUMBER: OC352448 (England and Wales)





ACCOUNTANTS: Raffingers Holdings Limited
Chartered Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

X8M LLP (REGISTERED NUMBER: OC352448)

ABRIDGED BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 411,621 551,048
Investments 5 100 100
411,721 551,148

CURRENT ASSETS
Stocks 25,000 221,140
Debtors 914,635 603,083
Cash at bank and in hand 2,227 172
941,862 824,395
CREDITORS
Amounts falling due within one year 942,421 944,339
NET CURRENT LIABILITIES (559 ) (119,944 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,162

431,204

CREDITORS
Amounts falling due after more than one
year

233,967

305,310
NET ASSETS ATTRIBUTABLE TO
MEMBERS

177,195

125,894

X8M LLP (REGISTERED NUMBER: OC352448)

ABRIDGED BALANCE SHEET - continued
31 March 2024

2024 2023
Notes £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

67,025

15,724

MEMBERS' OTHER INTERESTS
Capital accounts 110,170 110,170
177,195 125,894

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 67,025 15,724
Members' other interests 110,170 110,170
Amounts due from members (316,138 ) (357,552 )
(138,943 ) (231,658 )

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the period ended 31 March 2024.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 April 2025 and were signed by:





Mr A P C Williams - Designated member

X8M LLP (REGISTERED NUMBER: OC352448)

NOTES TO THE FINANCIAL STATEMENTS
for the period 31 August 2023 to 31 March 2024

1. STATUTORY INFORMATION

X8M 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis as the partners are of the opinion that the partnership will meet its liabilities as and when due, due to the continued support of the partners.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - 5 ).

X8M LLP (REGISTERED NUMBER: OC352448)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 31 August 2023 to 31 March 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 August 2023 1,799,750
Disposals (70,090 )
At 31 March 2024 1,729,660
DEPRECIATION
At 31 August 2023 1,248,702
Charge for period 120,328
Eliminated on disposal (50,991 )
At 31 March 2024 1,318,039
NET BOOK VALUE
At 31 March 2024 411,621
At 30 August 2023 551,048

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 31 August 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 30 August 2023 100

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft - 49,809
Hire purchase contracts 68,633 114,212
68,633 164,021

Hire purchase contracts are secured over the assets to which they relate.
At the previous year, bank overdraft is secured against designated partners personal guarantee.

X8M LLP (REGISTERED NUMBER: OC352448)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 31 August 2023 to 31 March 2024

7. RELATED PARTY DISCLOSURES

At the balance sheet, the LLP was owed £442,898 (2023: £504,315) by Excelr8 BTCC Limited.

At the balance sheet, the LLP owed £14,132 (2023: £11,214) to Excelr8 TCR Limited.

At the balance sheet, the LLP owed £216,336 (2023: £201,906) to A Williams Trading LLP.

At the balance sheet, the LLP owed £267,059 (2023: £131,942) to Total Track Limited.

The above companies are related by virtue of the same members/directors.