Stonesfield Garage LLP - Filleted accounts

Registered number

OC403325

Stonesfield Garage LLP

Filleted Accounts

31 March 2025

Stonesfield Garage LLP
Registered number:		OC403325
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	284,814		693,703
Current assets
Stocks		437,096		401,996
Debtors	4	66,602		70,853
Cash at bank and in hand		196,406		166,491
		700,104		639,340

Creditors: amounts falling due within one year	5	(156,168)		(132,675)

Net current assets		543,936		506,665

Total assets less current liabilities		828,750		1,200,368



Net assets attributable to members		828,750		1,200,368

Represented by:
Loans and other debts due to members	6	828,750		1,200,368
Members' other interests

For the year ended 31 March 2025 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 23 December 2025 and signed on their behalf by:


D R Miller
Designated member

Stonesfield Garage LLP
Notes to the Accounts
for the year ended 31 March 2025

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.

	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:

	Freehold land and buildings	Not depreciated
	Plant and machinery	33% reducing balance
	Fixtures, fittings, tools and equipment	15% reducing balance

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the LLP			13		12


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 April 2024	400,000		497,348		897,348
	Disposals	(400,000)		-		(400,000)
	At 31 March 2025	-		497,348		497,348

	Depreciation
	At 1 April 2024	-		203,645		203,645
	Charge for the year	-		8,889		8,889
	At 31 March 2025	-		212,534		212,534

	Net book value
	At 31 March 2025	-		284,814		284,814
	At 31 March 2024	400,000		293,703		693,703


4	Debtors			2025		2024
£					£

	Trade debtors			55,753		60,624
	Other debtors			10,849		10,229
				66,602		70,853


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			84,474		64,865
	Other taxes and social security costs			61,744		59,360
	Other creditors			9,950		8,450
				156,168		132,675


6	Loans and other debts due to members			2025		2024
£					£

	Members capital classified as debt			828,750		1,200,368

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


7	Other information

	Stonesfield Garage LLP is a limited liability partnership incorporated in England. Its registered office is:
	Stonesfield Garage
	Stonesfield
	Witney
	Oxon