Richards Thomas LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC350365 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2023 TO 31 MARCH 2024

FOR

RICHARDS THOMAS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Miss E Evans

W D Williams

G M L Williams

REGISTERED OFFICE:

14 The Strand

Ferndale

CF43 4LY

REGISTERED NUMBER:

OC350365 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 0LT

FIXED ASSETS

Tangible assets

4

58,610

60,116

CURRENT ASSETS

Stocks

154,225

202,394

Debtors

5

52,188

48,345

Cash at bank

1,131,822

2,763,361

1,338,235

3,014,100

CREDITORS

Amounts falling due within one year

6

1,470,786

3,080,020

NET CURRENT LIABILITIES

(132,551

)

(65,920

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

73,941

5,804

CREDITORS

Amounts falling due after more than

one year

7

15,686

NET ASSETS ATTRIBUTABLE TO

MEMBERS

89,627

21,490

LOANS AND OTHER DEBTS DUE

TO MEMBERS

9

(58,254)

21,490

TOTAL MEMBERS' INTERESTS

Loans and other debts due to

members

9

58,254

(21,490)

Amounts due from members

5

31,373

(89,627

)

(21,490

)

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 period ended 31 March 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.

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 30 January 2025 and were signed by:

G M L Williams - Designated member

1.	STATUTORY INFORMATION

Richards Thomas 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.

Critical accounting judgements and key sources of estimation uncertainty

The financial statements are prepared under the going concern basis. The Members believe this is appropriate as they believe that the company has the necessary resources at its disposal to meet its liabilities as they fall due.

The Members have a reasonable explanation that the company has adequate resources to continue in operational existence for a period of twelve months from the date of approval of these financial statements.

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.

Plant and machinery etc

-

25% on cost and 10% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 15 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 December 2023

and 31 March 2024

30,000

160,954

190,954

DEPRECIATION

At 1 December 2023

-

130,838

Charge for period

-

1,506

At 31 March 2024

-

132,344

NET BOOK VALUE

At 31 March 2024

30,000

28,610

58,610

At 30 November 2023

30,000

30,116

60,116

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

52,188

48,345

52,188

48,345

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

6,451

10,000

Trade creditors

(1

)

(1

)

Amounts owed to associates

58,228

Taxation and social security

244,098

218,282

Other creditors

1,162,010

2,793,511

1,470,786

3,080,020

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN

ONE YEAR

2024

2023

£

Bank loans

15,686

8.

BANK LOAN

During the year the company took advantage of the UK Governments Bounce Back Loan Scheme and was advanced an amount of £50,000. Repayments of this loan started in June 2021 for 60 months. This scheme is underwritten by the UK Government.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members' other Interests

Members'

Capital

Other

Reserves

Total

Members' interests 1 December 2023

£(21,490

)

-

£(21,490

)

Loss for the year available for division among

members

£(36,764

)

0

£(36,764

)

Members' interests after loss for the year

£(58254

)

£(58,254

)

Capital Introduced

-

Members' interests 31st March 2024

£(58,254

)

-

£(58,254

)

Loans and other debts due to members

Total Members' interests 31st March 2024

£(58,254

)