Stonesfield Garage LLP - Filleted accounts

Registered number

OC403325

Stonesfield Garage LLP

Filleted Accounts

31 March 2026

Stonesfield Garage LLP
Registered number:		OC403325
Balance Sheet
as at 31 March 2026
Notes		2026		2025
£			£
Fixed assets
Tangible assets	3	283,949		284,814
Current assets
Stocks		633,842		437,096
Debtors	4	20,951		66,602
Cash at bank and in hand		34,477		196,406
		689,270		700,104

Creditors: amounts falling due within one year	5	(150,313)		(156,168)

Net current assets		538,957		543,936

Total assets less current liabilities		822,906		828,750



Net assets attributable to members		822,906		828,750

Represented by:
Loans and other debts due to members	6	822,906		828,750


For the year ended 31 March 2026 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 28 September 2026 and signed on their behalf by:


D R Miller

Stonesfield Garage LLP
Notes to the Accounts
for the year ended 31 March 2026

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.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	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:

	Plant and machinery	33% reducing balance
	Office 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		2026		2025
Number				Number

	Average number of persons employed by the LLP		14		13


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 April 2025				497,348
	Additions				7,284
	At 31 March 2026				504,632

	Depreciation
	At 1 April 2025				212,534
	Charge for the year				8,149
	At 31 March 2026				220,683

	Net book value
	At 31 March 2026				283,949
	At 31 March 2025				284,814


4	Debtors		2026		2025
£				£

	Trade debtors		10,298		55,753
	Other debtors		10,653		10,849
			20,951		66,602


5	Creditors: amounts falling due within one year		2026		2025
£				£

	Trade creditors		79,186		84,474
	Other taxes and social security costs		60,174		61,744
	Other creditors		10,953		9,950
			150,313		156,168


6	Loans and other debts due to members		2026		2025
£				£


	Members capital classified as debt		822,906		828,750

	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