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REGISTERED NUMBER: OC424064
Bouzayen (Newton Abbot) LLP
Unaudited Financial Statements
30 September 2024
Bouzayen (Newton Abbot) LLP
Financial Statements
Year ended 30 September 2024
Contents
Page
Members' report
1
Statement of comprehensive income
2
Statement of financial position
3
Reconciliation of members' interests
5
Notes to the financial statements
7
Bouzayen (Newton Abbot) LLP
Members' Report
Year ended 30 September 2024
The members present their report and the unaudited financial statements of the LLP for the year ended 30 September 2024 .
Principal activities
The principal activity of the company during the year was a cafe.
Designated members
The designated members who served the LLP during the year were as follows:
Mr M Bouzayen
Mrs S Bouzayen
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
This report was approved by the members on 30 April 2025 and signed on behalf of the members by:
Mr M Bouzayen
Mrs S Bouzayen
Designated Member
Designated Member
LLP Secretary
Registered office:
5&7 Pellew Arcade
Teign Street
Teignmouth
Devon
TQ14 8EB
Bouzayen (Newton Abbot) LLP
Statement of Comprehensive Income
Year ended 30 September 2024
2024
2023
Note
£
£
Turnover
78,705
71,204
Cost of sales
11,769
12,288
--------
--------
Gross profit
66,936
58,916
Administrative expenses
52,979
42,770
--------
--------
Operating profit
13,957
16,146
Other interest receivable and similar income
81
68
--------
--------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members
14,038
16,214
--------
--------
All the activities of the LLP are from continuing operations.
Bouzayen (Newton Abbot) LLP
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Current assets
Debtors
5
5,482
Cash at bank and in hand
14,648
5,662
--------
--------
14,648
11,144
Creditors: amounts falling due within one year
6
1,204
301
--------
--------
Net current assets
13,444
10,843
--------
--------
Total assets less current liabilities
13,444
10,843
--------
--------
Represented by:
Loans and other debts due to members
Other amounts
7
2,601
Members' other interests
Members' capital classified as equity
10,843
10,843
Other reserves
--------
--------
13,444
10,843
--------
--------
Total members' interests
Amounts due from members
(5,482)
Loans and other debts due to members
7
2,601
Members' other interests
10,843
10,843
--------
--------
13,444
5,361
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 September 2024 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) relating to small LLPs.
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 financial statements .
Bouzayen (Newton Abbot) LLP
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the members and authorised for issue on 30 April 2025 , and are signed on their behalf by:
Mr M Bouzayen
Mrs S Bouzayen
Designated Member
Designated Member
Registered number: OC424064
Bouzayen (Newton Abbot) LLP
Reconciliation of Members' Interests
Year ended 30 September 2024
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total 2024
£
£
£
£
£
£
Balance at 1 October 2023
10,843
10,843
(5,482)
(5,482)
5,361
Profit for the financial year available for discretionary division among members
14,038
14,038
14,038
--------
--------
--------
-------
-------
--------
Members' interests after profit for the year
10,843
14,038
24,881
(5,482)
(5,482)
19,399
Other division of profits
(14,038)
(14,038)
14,038
14,038
Drawings
(5,955)
(5,955)
(5,955)
--------
--------
--------
--------
--------
--------
Balance at 30 September 2024
10,843
10,843
2,601
2,601
13,444
--------
--------
--------
--------
--------
--------
Bouzayen (Newton Abbot) LLP
Reconciliation of Members' Interests (continued)
Year ended 30 September 2024
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total 2023
£
£
£
£
£
£
Balance at 1 October 2022
10,843
10,843
4,192
4,192
15,035
Profit for the financial year available for discretionary division among members
16,214
16,214
16,214
--------
--------
--------
-------
-------
--------
Members' interests after profit for the year
10,843
16,214
27,057
4,192
4,192
31,249
Other division of profits
(16,214)
(16,214)
16,214
16,214
Drawings
(25,888)
(25,888)
(25,888)
--------
--------
--------
--------
--------
--------
Balance at 30 September 2023
10,843
10,843
(5,482)
(5,482)
5,361
--------
--------
--------
--------
--------
--------
Bouzayen (Newton Abbot) LLP
Notes to the Financial Statements
Year ended 30 September 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 5&7 Pellew Arcade, Teign Street, Teignmouth, Devon, TQ14 8EB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Bouzayen (Newton Abbot) LLP
Notes to the Financial Statements (continued)
Year ended 30 September 2024
3. Accounting policies (continued)
Members' participation rights (continued)
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to 3 (2023: 3 ).
5.
Debtors
2024
2023
£
£
Other debtors
5,482
----
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,204
301
-------
----
7.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
2,601
-------
----