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REGISTERED NUMBER: OC355631 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

S & B SUPERMARKET LLP

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

General Information 1

Report of the Members 2

Income Statement 4

Balance Sheet 5

Reconciliation of Members' Interests 7

Notes to the Financial Statements 9


S & B SUPERMARKET LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DESIGNATED MEMBERS: B S Patel
D S Patel
N S Patel
P B Patel
S B Patel





REGISTERED OFFICE: 2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: OC355631 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2024


The members present their report with the financial statements of the LLP for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of running of supermarkets.

DESIGNATED MEMBERS
The designated members during the year under review were:

B S Patel
D S Patel
N S Patel
P B Patel
S B Patel

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £91,949 (2023 - £129,273 profit).

MEMBERS' INTERESTS
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

MEMBERS' RESPONSIBILITIES STATEMENT
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.


S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 AUGUST 2024

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:





S B Patel - Designated member


29 April 2025

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
£ £

TURNOVER 3,812,187 3,985,761

Cost of sales 3,048,030 3,150,602
GROSS PROFIT 764,157 835,159

Administrative expenses 654,784 702,601
109,373 132,558

Other operating income 24,197 23,520
OPERATING PROFIT 133,570 156,078


Interest payable and similar expenses 41,621 26,805
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




91,949




129,273

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 709,110 638,343
Investment property 5 84,540 84,540
793,650 722,883

CURRENT ASSETS
Stocks 143,579 146,299
Debtors 6 178,494 174,760
Cash at bank and in hand 4,825 35,676
326,898 356,735
CREDITORS
Amounts falling due within one year 7 381,923 405,417
NET CURRENT LIABILITIES (55,025 ) (48,682 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

738,625

674,201

CREDITORS
Amounts falling due after more than one
year

8

463,302

446,432
NET ASSETS ATTRIBUTABLE TO
MEMBERS

275,323

227,769

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

275,323

227,769

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 275,323 227,769
Amounts due from members 6 (167,395 ) (159,901 )
107,928 67,868

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 year ended 31 August 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.

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

BALANCE SHEET - continued
31 AUGUST 2024


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

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





S B Patel - Designated member

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 AUGUST 2024


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£ £ £
Amount due to members 227,769
Amount due from members (159,901 )
Balance at 1 September 2023 - 67,868 67,868
Profit for the financial year
available for discretionary
division among members


91,949


-


91,949


Members' interests after profit
for the year

91,949

67,868

159,817

Other divisions of profit (91,949 ) 91,949 -
Introduced by members - 9,193 9,193
Drawings on account and
distributions of profit

-

(61,082

)

(61,082

)

Amount due to members 275,323
Amount due from members (167,395 )
Balance at 31 August 2024 - 107,928 107,928

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 AUGUST 2024

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£ £ £
Amount due to members 182,539
Amount due from members (120,257 )
Balance at 1 September 2022 - 62,282 62,282
Profit for the financial year
available for discretionary
division among members


129,273


-


129,273


Members' interests after profit
for the year

129,273

62,282

191,555

Other divisions of profit (129,273 ) 129,273 -
Drawings on account and
distributions of profit

-

(123,687

)

(123,687

)

Amount due to members 227,769
Amount due from members (159,901 )
Balance at 31 August 2023 - 67,868 67,868

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

S & B Supermarket 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.

TURNOVER AND REVENUE RECOGNITION
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

The LLP recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity
- and specific criteria have been met for each of the company's activities.

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 - 33% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

INVESTMENT PROPERTY
Certain of the partnership's properties are held for long-term investment. Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), as follows:

No depreciation is provided in respect of investment properties and they are revalued annually for impairment. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit nd loss account for the year.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets held under finance leases, which are leases where substantially all the risk and reward of ownership of the asset have passed to the LLP, are capitalised in the balance sheet as tangible fixed assets and are depreciated over their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract.

Operating leases
Rentals payable under operating leases are charged in the Statement of Profit and Loss on a straight line basis over the lease term.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 25 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 September 2023 422,054 6,650 101,104 350,545 880,353
Additions - - - 163,300 163,300
Disposals - - - (50,021 ) (50,021 )
At 31 August 2024 422,054 6,650 101,104 463,824 993,632
DEPRECIATION
At 1 September 2023 - 6,650 92,770 142,590 242,010
Charge for year - - 1,250 63,146 64,396
Eliminated on disposal - - - (21,884 ) (21,884 )
At 31 August 2024 - 6,650 94,020 183,852 284,522
NET BOOK VALUE
At 31 August 2024 422,054 - 7,084 279,972 709,110
At 31 August 2023 422,054 - 8,334 207,955 638,343

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 September 2023
and 31 August 2024 84,540
NET BOOK VALUE
At 31 August 2024 84,540
At 31 August 2023 84,540

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 457
Other debtors 178,494 174,303
178,494 174,760

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 22,980 33,676
Hire purchase contracts (see note 9) 65,017 48,322
Trade creditors 207,936 178,191
Taxation and social security 34,487 20,853
Other creditors 51,503 124,375
381,923 405,417

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 177,520 188,862
Hire purchase contracts (see note 9) 285,782 257,570
463,302 446,432

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 53,767 55,698

S & B SUPERMARKET LLP (REGISTERED NUMBER: OC355631)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 65,017 48,322
Between one and five years 285,782 257,570
350,799 305,892

Non-cancellable
operating leases
2024 2023
£ £
Within one year 18,500 13,500
Between one and five years 18,500 13,500
37,000 27,000

10. SECURED DEBTS

The bank loans are secured by a standard debenture.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in 'Loans and other debts due to members' rank
equally with unsecured creditors.