Linkogel And Crease Limited Liability Partnership
Linkogel And Crease Limited Liability Partnership
Registered number: OC345526
Unaudited Financial Statements
For The Year Ended
31 December 2021
Linkogel And Crease Limited Liability Partnership
Unaudited Financial Statements
For The Year Ended
31 December 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Linkogel And Crease Limited Liability Partnership
Balance Sheet
As at
31 December 2021
Balance Sheet
Registered number:
OC345526
For the year ending 31 December 2021 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 applicable to LLP's subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
| 2021 | 2020 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Loans and other debts due to members within one year | |||||
| Members' capital classified as a liability | - | 2,000 | |||
| Other amounts | - | 255 | |||
| - | 2,255 | ||||
| - | 2,255 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Amounts due from members | (15,375) | (1,582) | |||
| Loans and other debts due to members within one year | - | 2,255 | |||
| (15,375) | 673 | ||||
Linkogel And Crease Limited Liability Partnership
Balance Sheet (continued)
As at
31 December 2021
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
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Designated Member
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The notes on pages 3 to 5 form part of these financial statements.
Linkogel And Crease Limited Liability Partnership
Notes to the Financial Statements
For The Year Ended
31 December 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in July 2014 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the LLP, net of Value Added Tax and trade discounts.
The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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1.4.
Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
1.5.
Judgements in applying accounting policies and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
(a) Critical judgements in applying the entity's accounting policies
No judgements have been made in applying the entities accounting policies that would have a significant effect on the amounts recognised in these financial statements.
(b) Critical accounting estimates and assumptions
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. However, there are no estimates or assumptions used in these financial statements that the directors expect will have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2020: 4)
Linkogel And Crease Limited Liability Partnership
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2021
4.
Tangible Assets
| Motor Vehicles | |
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| £ | |
| Cost | |
| As at
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| Additions |
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| Depreciation | |
| As at
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| Provided during the period |
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| As at
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| Net Book Value | |
| As at
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| As at
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5.
Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| VAT |
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| Amounts due from members | 15,375 | 1,582 | |
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6.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| Accruals and deferred income |
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Amounts owed to related parties are unsecured, interest free, have no fixed date of repayment and are repayable on demand.
7.
Related Party Transactions
M. Linkogel & Co. Limited
A related party by way of common control.
Management charges of £20,000 (2020: (£30,000)) were charged by M. Linkogel & Co. Limited. No balance was outstanding at the year end.
Linkogel & Freeman Limited
A related party by way of common control.
At the balance sheet date £312,490 (2020: £279,174) due by the LLP.
Linkogel And Crease Limited Liability Partnership
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2021
8.
Ultimate Controlling Party
The LLP is under joint control of Mr R J Linkogel and Mr I R Crease.
9.
General Information
Linkogel And Crease Limited Liability Partnership is a limited liability partnership, incorporated in England & Wales, registered number
OC345526
. The Registered Office is Recta Mills, Factory Street, Bradford, West Yorkshire, BD4 9TF.