OC345885 false specialist car perfprmane tuning and servicing 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/2024-03-31 http://www.companieshouse.gov.uk/pt:PlantMachinery 2024-03-31 http://www.companieshouse.gov.uk/cd:Director1 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/pt:PlantMachinery 2025-03-31 http://www.companieshouse.gov.uk/cd:Director2 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/cd:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/pt:FurnitureFittings 2024-03-31 http://www.companieshouse.gov.uk/cd:Director3 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/pt:FurnitureFittings 2025-03-31 http://www.companieshouse.gov.uk/pt:MotorCars 2024-03-31 http://www.companieshouse.gov.uk/cd:RegisteredOffice 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/pt:MotorCars 2025-03-31 http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments 2025-03-31 http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments 2024-03-31 http://www.companieshouse.gov.uk/2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/2024-03-31 http://www.companieshouse.gov.uk/cd:FRS102 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/2025-03-31 http://www.companieshouse.gov.uk/cd:FullAccounts 2024-04-01 2025-03-31 http://www.companieshouse.gov.uk/pt:LandBuildings 2024-03-31 http://www.companieshouse.gov.uk/pt:LandBuildings 2025-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: OC345885
THE PHIRM LLP
ACCOUNTS
FOR THE YEAR ENDED 31/03/2025
Prepared By:
Martin & Fahy Accountants LLP
7 Milbanke Court
Milbanke Way
Bracknell
Berkshire
RG12 1RP

THE PHIRM LLP

ACCOUNTS
FOR THE YEAR ENDED 31/03/2025
DESIGNATED MEMBERS
Paul Turner
Timothy Saunders
Samantha Saunders- Resigned 30/05/2025
REGISTERED OFFICE
7 Milbanke Court
Milbanke Way
Bracknell
Berkshire
RG12 1RP
COMPANY NUMBER
OC345885
ACCOUNTANTS
Martin & Fahy Accountants LLP
7 Milbanke Court
Milbanke Way
Bracknell
Berkshire
RG12 1RP

THE PHIRM LLP

BALANCE SHEET AT 31/03/2025
|  |  |  |  |  | 2025 |  |  |  | 2024
|  | Notes |  |  |  | £ |  |  |  | £
FIXED ASSETS |  |  |  |  |  |  |  |  |  |
Tangible assets |  | 2 |  |  |  | 443,564 |  |  |  | 422,127
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |
Stock |  | 1d |  | 22,170 |  |  |  | 28,235 |  |
Debtors |  | 3 |  | 26,630 |  |  |  | 24,865 |  |
Cash at bank and in hand |  |  |  | 9,554 |  |  |  | 965 |  |
|  |  |  | 58,354 |  |  |  | 54,065 |  |
CREDITORS: Amounts falling due within one year |  |  |  | 69,547 |  |  |  | 94,512 |  |
NET CURRENT LIABILITIES |  |  |  |  |  | (11,193) |  |  |  | (40,447)
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  |  |  |  | 432,371 |  |  |  | 381,680
CREDITORS: Amounts falling due after more than oneyear |  | 5 |  |  |  | 213,720 |  |  |  | 195,304
NET ASSETS ATTRIBUTABLE TO MEMBERS |  |  |  |  |  | 218,651 |  |  |  | 186,376
LOANS AND OTHER DEBTS DUE TO MEMBERS |  |  |  |  |  | 32,275 |  |  |  | -
MEMBERS ' OTHER INTERESTS |  |  |  |  |  |  |  |  |  |
Capital accounts |  |  |  |  |  | 186,376 |  |  |  | 186,376
|  |  |  |  |  | 218,651 |  |  |  | 186,376
TOTAL MEMBERS' INTERESTS |  |  |  |  |  |  |  |  |  |
Loans and other debts due to members |  |  |  |  |  | 32,275 |  |  |  | -
Members' other interests |  |  |  |  |  | 186,376 |  |  |  | 186,376
|  |  |  |  |  | 218,651 |  |  |  | 186,376
For the year ending 31/03/2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 as modified 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 with respect to accounting records and the preparation of accounts as modified 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small LLPs.
The members have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the members on 03/12/2025 and signed on their behalf by |  |  |  |  |  |  |  |  |  |
............................. |  |  |  |  |  |  |  |  |  |
Paul Turner |  |  |  |  |  |  |  |  |  |
Designated Member |  |  |  |  |  |  |  |  |  |

THE PHIRM LLP

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/03/2025

1. ACCOUNTING POLICIES

1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

1b. Cash Flow Statement
The Company is exempt from including a statement of cash flows in its accounts in accordance with Financial Reporting Standard for Smaller Entities (effective January 2015).

1c. Depreciation |  |
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machinery |  | reducing balance 20%
Fixtures and Fittings |  | reducing balance 15%
Motor Cars |  | reducing balance 25%

1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

1f. Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.

THE PHIRM LLP

2. TANGIBLE FIXED ASSETS |  |  |  |  |  |  |  |  |  |
|  | Land And |  | Plant and |  | Fixtures |  |  |  |
|  | Buildings |  | Machinery |  | and Fittings |  | Motor Cars |  | Total
|  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |
At 01/04/2024 |  | 271,312 |  | 109,379 |  | 2,918 |  | 186,934 |  | 570,543
Additions |  | - |  | 333 |  | 916 |  | 41,619 |  | 42,868
At 31/03/2025 |  | 271,312 |  | 109,712 |  | 3,834 |  | 228,553 |  | 613,411
Depreciation |  |  |  |  |  |  |  |  |  |
At 01/04/2024 |  | - |  | 58,024 |  | 1,884 |  | 88,508 |  | 148,416
For the year |  | - |  | 4,612 |  | 293 |  | 16,526 |  | 21,431
At 31/03/2025 |  | - |  | 62,636 |  | 2,177 |  | 105,034 |  | 169,847
Net Book Amounts |  |  |  |  |  |  |  |  |  |
At 31/03/2025 |  | 271,312 |  | 47,076 |  | 1,657 |  | 123,519 |  | 443,564
At 31/03/2024 |  | 271,312 |  | 51,355 |  | 1,034 |  | 98,426 |  | 422,127

3. DEBTORS |  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Amounts falling due within one year: |  |  |  |  |  |
VAT |  |  |  | 6,588 |  | 13,232
Other Debtors |  |  |  | 20,042 |  | 11,633
|  |  |  | 26,630 |  | 24,865

4. EMPLOYEES |  |  |  |  |  |
|  |  |  | 2025 |  | 2024
|  |  |  | No. |  | No.
Average number of employees |  |  |  | - |  | -

THE PHIRM LLP

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |  |  |  |  |  |
|  |  |  | 2025 |  | 2024
|  |  |  | £ |  | £
Bank loans and overdrafts |  |  |  | 107,275 |  | 114,885
Other creditors |  |  |  | 106,445 |  | 80,419
|  |  |  | 213,720 |  | 195,304
Included in other creditors are: |  |  |  |  |  |
Obligations under hire purchase |  |  |  | 106,445 |  | 80,419