Park Riding LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC366369 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Park Riding LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J R D Buirds

Mrs J M Buirds

REGISTERED OFFICE:

66 Greenfield Road

Holmfirth

West Yorkshire

HD9 2LA

REGISTERED NUMBER:

OC366369 (England and Wales)

ACCOUNTANTS:

Norton Accountancy Ltd

7 Soundwell Road

Staple Hill

Bristol

BS16 4QG

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

694,012

730,027

694,012

730,027

CURRENT ASSETS

Stocks

1,250

Debtors

153,484

110,307

Cash at bank and in hand

2,678

9,188

157,412

120,745

CREDITORS

Amounts falling due within one year

6

(79,234

)

(69,143

)

NET CURRENT ASSETS

78,178

51,602

TOTAL ASSETS LESS CURRENT
LIABILITIES

772,190

781,629

CREDITORS

Amounts falling due after more than one
year

7

(295,633

)

(269,036

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

476,557

512,593

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

126,934

114,970

MEMBERS' OTHER INTERESTS

Revaluation reserve

(6,000

)

42,000

Fair value reserve

355,623

476,557

512,593

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

126,934

114,970

Members' other interests

349,623

397,623

Amounts due from members

(153,484

)

(110,307

)

323,073

402,286

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 year ended 31 March 2025.

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 15 December 2025 and were signed by:

J R D Buirds - Designated member

1.	STATUTORY INFORMATION

Park Riding 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 year was 21 (2024 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

10,000

AMORTISATION

At 1 April 2024

and 31 March 2025

10,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 April 2024

607,000

259,296

866,296

Additions

-

51,986

Disposals

-

(43,450

)

(43,450

)

Revaluations

(48,000

)

-

(48,000

)

At 31 March 2025

559,000

267,832

826,832

DEPRECIATION

At 1 April 2024

-

136,269

Charge for year

-

14,651

Eliminated on disposal

-

(18,100

)

(18,100

)

At 31 March 2025

-

132,820

NET BOOK VALUE

At 31 March 2025

559,000

135,012

694,012

At 31 March 2024

607,000

123,027

730,027

The property has been revalued by the partner by reviewing similar properties locally and believes this to be a true and fair view of the current market value if it was to be sold on the open market to a third party.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 April 2024

112,788

Additions

51,986

Disposals

(43,450

)

At 31 March 2025

121,324

DEPRECIATION

At 1 April 2024

31,448

Charge for year

8,398

Eliminated on disposal

(18,100

)

At 31 March 2025

21,746

NET BOOK VALUE

At 31 March 2025

99,578

At 31 March 2024

81,340

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

12,271

Hire purchase contracts

15,243

14,148

Trade creditors

4,440

4,381

Taxation and social security

7,241

7,138

Other creditors

40,039

31,205

79,234

69,143

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

152,030

163,979

Hire purchase contracts

75,881

66,435

Other creditors

67,722

38,622

295,633

269,036

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

112,701

119,004

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The designated member has advised that the loan of £111,739 will not be recalled within 12 months of the year end.