Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 OC439890 Work Rural Ltd Beaven Property Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC439890 2023-12-31 OC439890 2024-12-31 OC439890 2024-01-01 2024-12-31 OC439890 frs-core:CurrentFinancialInstruments 2024-12-31 OC439890 frs-core:FurnitureFittings 2024-12-31 OC439890 frs-core:FurnitureFittings 2024-01-01 2024-12-31 OC439890 frs-core:FurnitureFittings 2023-12-31 OC439890 frs-core:PlantMachinery 2024-12-31 OC439890 frs-core:PlantMachinery 2024-01-01 2024-12-31 OC439890 frs-core:PlantMachinery 2023-12-31 OC439890 frs-bus:LimitedLiabilityPartnershipLLP 2024-01-01 2024-12-31 OC439890 frs-bus:LimitedLiabilityPartnershipsSORP 2024-01-01 2024-12-31 OC439890 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 OC439890 frs-bus:SmallEntities 2024-01-01 2024-12-31 OC439890 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 OC439890 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 OC439890 frs-countries:EnglandWales 2024-01-01 2024-12-31 OC439890 frs-bus:PartnerLLP1 2024-01-01 2024-12-31 OC439890 frs-bus:PartnerLLP2 2024-01-01 2024-12-31 OC439890 2022-12-31 OC439890 2023-12-31 OC439890 2023-01-01 2023-12-31 OC439890 frs-core:CurrentFinancialInstruments 2023-12-31
Registered number: OC439890
Leather Factory Holt LLP
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: OC439890
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,514 4,003
6,514 4,003
CURRENT ASSETS
Debtors 5 42,183 33,774
Cash at bank and in hand 93,872 72,239
136,055 106,013
Creditors: Amounts Falling Due Within One Year 6 (119,631 ) (87,078 )
NET CURRENT ASSETS (LIABILITIES) 16,424 18,935
TOTAL ASSETS LESS CURRENT LIABILITIES 22,938 22,938
NET ASSETS ATTRIBUTABLE TO MEMBERS 22,938 22,938
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 22,938 22,938
22,938 22,938
22,938 22,938
TOTAL MEMBERS' INTEREST
Amounts due from members (29,935) (29,259)
Loans and other debts due to members within one year 22,938 22,938
(6,997) (6,321)
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Page 2
For the year ending 31 December 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 applicable to LLPs subject to the small LLPs regime.)
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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Income Statement.
On behalf of the members
Work Rural Ltd
Designated Member
Beaven Property Limited
Designated Member
31/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Leather Factory Holt LLP is a limited liability partnership, incorporated in England & Wales, registered number OC439890 . The Registered Office is The Courtyard, 33 Duke Street, Trowbridge, Wiltshire, BA14 6RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 2,167 3,215 5,382
Additions 2,394 2,287 4,681
As at 31 December 2024 4,561 5,502 10,063
Depreciation
As at 1 January 2024 574 805 1,379
Provided during the period 995 1,175 2,170
As at 31 December 2024 1,569 1,980 3,549
Net Book Value
As at 31 December 2024 2,992 3,522 6,514
As at 1 January 2024 1,593 2,410 4,003
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,794 655
Other debtors 35,389 33,119
42,183 33,774
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 20,619 11,438
Other creditors 99,012 75,640
119,631 87,078
Page 4