Bilimoria & Bilimoria LLP - Accounts to registrar (filleted) - small 18.2
Bilimoria & Bilimoria LLP - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021 |
FOR |
BILIMORIA & BILIMORIA LLP |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2021 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BILIMORIA & BILIMORIA LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2021 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
BALANCE SHEET |
31ST JULY 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 62,222 | 240,743 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
62,222 |
240,743 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 62,222 | 240,743 |
Amounts due from members | 5 | (60,582 | ) | (52,062 | ) |
1,640 | 188,681 |
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. |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
BALANCE SHEET - continued |
31ST JULY 2021 |
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 |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2021 |
1. | STATUTORY INFORMATION |
Bilimoria & Bilimoria 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Covid-19 |
COVID-19 has severely impacted many economies around the globe. Businesses are being forced to cease or limit operations for indeterminable periods of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Global stock markets have experienced great volatility and a significant weakening. The property market was effectively frozen during the period. Governments and central banks have responded with monetary and fiscal interventions to stabilise economic conditions |
Accordingly, these financial statements have not been adjusted to reflect their possible impact. The duration and impact of the COVID-19 pandemic remains unclear at this time. Therefore it is not possible to accurately estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company the short or long term. |
Taking into account the support of our directors, shareholders and other factors, the Directors have taken a view that the Company will have sufficient financial resources to weather the impact of COVID-19 and continue as a going concern. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2021 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2020 |
Additions |
Disposals | ( |
) |
At 31st July 2021 |
DEPRECIATION |
At 1st August 2020 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st July 2021 |
NET BOOK VALUE |
At 31st July 2021 |
At 31st July 2020 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2020 |
Additions |
Disposals | ( |
) |
Transfer to ownership | (63,131 | ) |
At 31st July 2021 |
DEPRECIATION |
At 1st August 2020 |
Charge for year |
Eliminated on disposal | ( |
) |
Transfer to ownership | (56,811 | ) |
At 31st July 2021 |
NET BOOK VALUE |
At 31st July 2021 |
At 31st July 2020 |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Hire purchase contracts |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2021 | 2020 |
£ | £ |
Hire purchase contracts | 73,952 | 47,507 |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2021 | 2020 |
£ | £ |
Amounts owed to members in respect of profits | 62,222 | 240,743 |
Falling due within one year | 62,222 | 240,743 |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with other unsecured creditors of the company. |
There are no restrictions or limitations as such existing on the ability of the members to reduce the amount of 'Members' other interests'. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Lord & Lady K F Bilimoria. |