REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024 |
FOR |
A WILLIAMS TRADING LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 MARCH 2024 |
FOR |
A WILLIAMS TRADING LLP |
A WILLIAMS TRADING LLP (REGISTERED NUMBER: OC424878) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 June 2023 to 31 March 2024 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
A WILLIAMS TRADING LLP |
GENERAL INFORMATION |
for the period 1 June 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
A WILLIAMS TRADING LLP (REGISTERED NUMBER: OC424878) |
ABRIDGED BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
545,823 |
464,467 |
A WILLIAMS TRADING LLP (REGISTERED NUMBER: OC424878) |
ABRIDGED BALANCE SHEET - continued |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
523,070 |
441,714 |
MEMBERS' OTHER INTERESTS |
Fair value reserve |
545,823 | 464,467 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 523,070 | 441,714 |
Members' other interests | 22,753 | 22,753 |
545,823 | 464,467 |
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 were approved by the members of the LLP and authorised for issue on |
A WILLIAMS TRADING LLP (REGISTERED NUMBER: OC424878) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 June 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
A Williams Trading 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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 - 20%, 10% and 5% on reducing balance |
Motor vehicles - 20% on reducing balance |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 - NIL). |
A WILLIAMS TRADING LLP (REGISTERED NUMBER: OC424878) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2023 to 31 March 2024 |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
Additions |
At 31 March 2024 |
AMORTISATION |
Amortisation for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 June 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 May 2023 |
A WILLIAMS TRADING LLP (REGISTERED NUMBER: OC424878) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 June 2023 to 31 March 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1 June 2023 | 107,378 |
Additions | 75,337 |
At 31 March 2024 | 182,715 |
DEPRECIATION |
At 1 June 2023 | 21,476 |
Charge for period | 32,248 |
At 31 March 2024 | 53,724 |
NET BOOK VALUE |
At 31 March 2024 | 128,991 |
At 31 May 2023 | 85,902 |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Hire purchase contracts | 1,016,411 | 1,058,446 |
Hire purchase contracts are secured over the assets to which they relate. |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Other creditors take priority over loans and other debts due to members. |
8. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £80,037 (2023: £63,967) to X8M LLP, owed £16,230 (2023: Nil) to Total Track Ltd and was owed £68,053 (2023: £67,264) by Excelr8 Motorsport Engineering Ltd, all companies are connected by virtue of common control. |
During the year company made sales of £280 (2023: £5,667) to Excelr8 Motorsport LLP, £34,072 (2023: £3,868) to Total Track Ltd and £258,892 (2023: £219,900) to Excelr8 Motorsport Engineering Ltd. |