Registered number
OC395187
Multicultural Bookshop LLP
Filleted Accounts
31 March 2024
Multicultural Bookshop LLP
Registered number: OC395187
Balance Sheet
as at 31 March 2024 Restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 119 125
Current assets
Stocks 3,828 3,828
Creditors: amounts falling due within one year 4 (4,330) (4,180)
Net current liabilities (502) (352)
Total assets less current liabilities (383) (227)
Creditors: amounts falling due after more than one year 5 (35,211) (37,986)
Net liabilities attributable to members (35,594) (38,213)
Represented by:
Loans and other debts due to members 6 (35,694) (38,313)
Members' other interests Restated
Members' capital classified as equity 100 100
(35,594) (38,213)
Total members' interests
Loans and other debts due to members 6 (35,694) (38,313)
Members' other interests 100 100
(35,594) (38,213)
For the period ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 30 April 2025 and signed on their behalf by:
Aamir Rashid Darr
Designated member
Multicultural Bookshop LLP
Notes to the Accounts
for the period from 1 October 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures and equipment 10% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 260
At 31 March 2024 260
Depreciation
At 1 October 2023 135
Charge for the period 6
At 31 March 2024 141
Net book value
At 31 March 2024 119
At 30 September 2023 125
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,330 4,180
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 35,211 37,986
6 Loans and other debts due to members 2024 2023
£ £
Loans from members 6,198 1,767
Amounts due to members in respect of profits (41,892) (40,080)
(35,694) (38,313)
Amounts falling due within one year (35,694) (38,313)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Multicultural Bookshop LLP is a limited liability partnership incorporated in England. Its registered office is:
Rashid House
West Gate
Bradford
West Yorkshire
BD1 3AA
Multicultural Bookshop LLP OC395187 false 2023-10-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Aamir Rashid Darr No description of principal activity OC395187 2022-10-01 2023-09-30 OC395187 core:WithinOneYear 2023-09-30 OC395187 core:AfterOneYear 2023-09-30 OC395187 1 2023-09-30 OC395187 core:ShareCapital 2023-09-30 OC395187 2023-10-01 2024-03-31 OC395187 bus:LimitedLiabilityPartnershipLLP 2023-10-01 2024-03-31 OC395187 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-03-31 OC395187 bus:PartnerLLP20 2023-10-01 2024-03-31 OC395187 3 2023-10-01 2024-03-31 OC395187 1 2023-10-01 2024-03-31 OC395187 2 2023-10-01 2024-03-31 OC395187 4 2023-10-01 2024-03-31 OC395187 core:PlantMachinery 2023-10-01 2024-03-31 OC395187 countries:England 2023-10-01 2024-03-31 OC395187 bus:FRS102 2023-10-01 2024-03-31 OC395187 bus:FilletedAccounts 2023-10-01 2024-03-31 OC395187 2024-03-31 OC395187 core:WithinOneYear 2024-03-31 OC395187 core:AfterOneYear 2024-03-31 OC395187 1 2024-03-31 OC395187 core:ShareCapital 2024-03-31 OC395187 core:PlantMachinery 2024-03-31 OC395187 2023-09-30 OC395187 core:PlantMachinery 2023-09-30 iso4217:GBP xbrli:pure