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REGISTERED NUMBER: OC367449 (England and Wales)















NEEDHAM ENTERPRISES (CARPETS) LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






NEEDHAM ENTERPRISES (CARPETS) LLP (REGISTERED NUMBER: OC367449)

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










Page

General Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


NEEDHAM ENTERPRISES (CARPETS) LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DESIGNATED MEMBERS: Mr D.W. Needham
Mrs L.R. Needham





REGISTERED OFFICE: The Carpet Factory
43 Birmingham Road
Kidderminster
Worcestershire
DY10 2DA





REGISTERED NUMBER: OC367449 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NEEDHAM ENTERPRISES (CARPETS) LLP


The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Needham Enterprises (Carpets) LLP for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Needham Enterprises (Carpets) LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Needham Enterprises (Carpets) LLP and state those matters that we have agreed to state to the members of Needham Enterprises (Carpets) LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Needham Enterprises (Carpets) LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Needham Enterprises (Carpets) LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Needham Enterprises (Carpets) LLP. You consider that Needham Enterprises (Carpets) LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Needham Enterprises (Carpets) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


4 April 2025

NEEDHAM ENTERPRISES (CARPETS) LLP (REGISTERED NUMBER: OC367449)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 334,739 334,747

CURRENT ASSETS
Debtors 5 18,031 5,059
Cash at bank 3,761 3,461
21,792 8,520
CREDITORS
Amounts falling due within one year 6 190,554 177,474
NET CURRENT LIABILITIES (168,762 ) (168,954 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,977

165,793

CREDITORS
Amounts falling due after more than one
year

7

7,931

16,980
NET ASSETS ATTRIBUTABLE TO
MEMBERS

158,046

148,813

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

158,046

148,813

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 158,046 148,813

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.

NEEDHAM ENTERPRISES (CARPETS) LLP (REGISTERED NUMBER: OC367449)

BALANCE SHEET - continued
31 AUGUST 2024


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

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 4 April 2025 and were signed by:





Mr D.W. Needham - Designated member

NEEDHAM ENTERPRISES (CARPETS) LLP (REGISTERED NUMBER: OC367449)

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


1. STATUTORY INFORMATION

Needham Enterprises (Carpets) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Computer equipment - 25% 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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 334,715 667 335,382
DEPRECIATION
At 1 September 2023 - 635 635
Charge for year - 8 8
At 31 August 2024 - 643 643
NET BOOK VALUE
At 31 August 2024 334,715 24 334,739
At 31 August 2023 334,715 32 334,747

NEEDHAM ENTERPRISES (CARPETS) LLP (REGISTERED NUMBER: OC367449)

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


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 115,800
NET BOOK VALUE
At 31 August 2024 115,800
At 31 August 2023 115,800

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,839 3,112
Other debtors 3,192 1,947
18,031 5,059

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,467 8,467
Hire purchase contracts 4,543 14,942
Trade creditors 29,768 8,400
Taxation and social security 214 107
Other creditors 147,562 145,558
190,554 177,474

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 7,931 16,980

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

As none of the creditors hold security over the assets of the limited liability partnership, both members and other creditors will be paid equally on a proportionate basis.