Marine Parade (Whitby) LLP Filleted accounts for Companies House (small and micro)
Marine Parade (Whitby) LLP Filleted accounts for Companies House (small and micro)
REGISTERED NUMBER:
OC434582
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Statement of Financial Position |
31 Mar 22 |
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Note |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Cash at bank and in hand |
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-------- |
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Creditors: amounts falling due within one year |
7 |
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Net current liabilities |
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-------- |
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Total assets less current liabilities |
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---- |
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Net assets |
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Represented by:
Loans and other debts due to members
Other amounts |
8 |
331 |
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Members' other interests
Other reserves |
– |
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331 |
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Total members' interests
Loans and other debts due to members |
8 |
331 |
Members' other interests |
– |
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331 |
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In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
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Statement of Financial Position (continued) |
These financial statements were approved by the
members
and authorised for issue on
6 September 2022
, and are signed on their behalf by:
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Designated Member |
Registered number:
OC434582
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Notes to the Financial Statements |
Period from 6 December 2020 to 31 March 2022
1. |
General information |
The LLP is registered in England and Wales. The address of the registered office is High Park Farm, Kirkbymoorside, York, YO62 7HS.
2. |
Statement of compliance |
3. |
Accounting policies |
Basis of preparation
Disclosure exemptions
No cash flow statement has been included because the LLP qualifies as small as defined by FRS102.
Judgements and key sources of estimation uncertainty
Revenue recognition
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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
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 statement of comprehensive income 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'.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvement to leasehold property |
- |
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Plant and machinery |
- |
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Fixtures and fittings |
- |
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Impairment of fixed assets
Stocks
Government grants
Financial instruments
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
4. |
Employee numbers |
The average number of persons employed by the LLP during the period, including the members with contracts of employment, amounted to
17
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5. |
Tangible assets |
Improvement to leasehold property |
Plant and machinery |
Fixtures and fittings |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 6 December 2020 |
– |
– |
– |
– |
Additions |
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At 31 March 2022 |
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-------- |
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Depreciation |
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At 6 December 2020 |
– |
– |
– |
– |
Charge for the period |
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------- |
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------- |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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6. |
Debtors |
31 Mar 22 |
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£ |
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Other debtors |
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------- |
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7.
Creditors:
amounts falling due within one year
31 Mar 22 |
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£ |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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8. |
Loans and other debts due to members |
31 Mar 22 |
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£ |
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Amounts owed to members in respect of profits |
331 |
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