Silverfin false false 31/03/2025 01/04/2024 31/03/2025 New Abbey Developments LLP 06/11/2017 PG Westmorland Limited 19/12/2024 06/11/2017 Stokes Croft Commercial Limited 31/03/2025 16 December 2025 The principal activity of the LLP during the financial year was the development of residential dwellings for sale. OC416422 2025-03-31 OC416422 bus:Director1 2025-03-31 OC416422 bus:Director2 2025-03-31 OC416422 bus:Director3 2025-03-31 OC416422 2024-03-31 OC416422 core:CurrentFinancialInstruments 2025-03-31 OC416422 core:CurrentFinancialInstruments 2024-03-31 OC416422 2024-04-01 2025-03-31 OC416422 bus:FilletedAccounts 2024-04-01 2025-03-31 OC416422 bus:SmallEntities 2024-04-01 2025-03-31 OC416422 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC416422 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC416422 bus:Director1 2024-04-01 2025-03-31 OC416422 bus:Director2 2024-04-01 2025-03-31 OC416422 bus:Director3 2024-04-01 2025-03-31 OC416422 2023-04-01 2024-03-31 OC416422 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: OC416422 (England and Wales)

# PG CARRIAGEWORKS LLP

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

PG CARRIAGEWORKS LLP

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

PG CARRIAGEWORKS LLP

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
PG CARRIAGEWORKS LLP

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Current assets |  |  |  |
Stocks |  | 0 |  | 2,220,795
Debtors | 3 | 203,170 |  | 429,326
Cash at bank and in hand |  | 42,912 |  | 67,310
|  | 246,082 |  | 2,717,431
Creditors: amounts falling due within one year | 4 | ( 36,370) |  | ( 145,512)
Net current assets |  | 209,712 |  | 2,571,919
Total assets less current liabilities |  | 209,712 |  | 2,571,919
Net assets attributable to members |  | 209,712 |  | 2,571,919
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Other amounts |  | 209,712 |  | 2,571,919
|  | 209,712 |  | 2,571,919
Members' other interests |  |  |  |
|  | 0 |  | 0
|  | 209,712 |  | 2,571,919
Total members' interests |  |  |  |
Loans and other debts due to members |  | 209,712 |  | 2,571,919
|  | 209,712 |  | 2,571,919

For the financial year ending 31 March 2025 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.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

PG Carriageworks LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of PG Carriageworks LLP (registered number: OC416422) were approved and authorised for issue by the Board of Directors on 16 December 2025. They were signed on its behalf by:

New Abbey Developments LLP Designated member |

PG CARRIAGEWORKS LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
PG CARRIAGEWORKS LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

PG Carriageworks LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Number One Bristol Office 1, Lewins Mead, Bristol, BS1 2NJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 0 |  | 0

#### 3. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 40,020 |  | 43,468
Prepayments | 0 |  | 230
VAT recoverable | 774 |  | 18,020
Other debtors | 162,376 |  | 367,608
| 203,170 |  | 429,326

#### 4. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 32,095 |  | 132,418
Accruals | 4,275 |  | 13,094
| 36,370 |  | 145,512

There are no amounts included above in respect of which any security has been given by the small entity.

#### 5. Securities

The assets of the LLP are secured by New Abbey Developments LLP by way of a fixed and floating charge over all the present and future property and undertaking of the LLP.