Gorringes LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC318535 (England and Wales)

GORRINGES LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2021

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DESIGNATED MEMBERS:

P E Taylor

Mrs S M A Taylor

Brookgrade Limited

C P Lansberry

REGISTERED OFFICE:

15 North Street

LEWES

East Sussex

BN7 2PD

REGISTERED NUMBER:

OC318535 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Intangible assets

4

31,250

37,500

Tangible assets

5

98,322

46,136

129,572

83,636

CURRENT ASSETS

Debtors

6

833,106

224,971

Cash at bank

1,242,295

640,050

2,075,401

865,021

CREDITORS

Amounts falling due within one year

7

1,282,944

376,288

NET CURRENT ASSETS

792,457

488,733

TOTAL ASSETS LESS CURRENT LIABILITIES

922,029

572,369

CREDITORS

Amounts falling due after more than one year

8

7,401

8,728

NET ASSETS ATTRIBUTABLE TO MEMBERS

914,628

563,641

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

914,628

563,641

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

914,628

563,641

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2021.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 28th June 2021 and were signed by:

C P Lansberry - Designated member

1.	STATUTORY INFORMATION

Gorringes 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 25% on cost and over lease term

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 25 (2020 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2020

and 31st March 2021

125,000

AMORTISATION

At 1st April 2020

87,500

Charge for year

6,250

At 31st March 2021

93,750

NET BOOK VALUE

At 31st March 2021

31,250

At 31st March 2020

37,500

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2020

207,386

86,359

54,296

161,352

509,393

Additions

38,155

-

32,479

10,991

81,625

At 31st March 2021

245,541

86,359

86,775

172,343

591,018

DEPRECIATION

At 1st April 2020

201,611

83,023

34,547

144,076

463,257

Charge for year

6,703

834

8,998

12,904

29,439

At 31st March 2021

208,314

83,857

43,545

156,980

492,696

NET BOOK VALUE

At 31st March 2021

37,227

2,502

43,230

15,363

98,322

At 31st March 2020

5,775

3,336

19,749

17,276

46,136

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1st April 2020

29,014

Additions

32,479

At 31st March 2021

61,493

DEPRECIATION

At 1st April 2020

11,123

Charge for year

8,533

At 31st March 2021

19,656

NET BOOK VALUE

At 31st March 2021

41,837

At 31st March 2020

17,891

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

807,802

207,696

Other debtors

25,304

17,275

833,106

224,971

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts

10,770

4,829

Trade creditors

980,303

253,558

Social security and other taxes

14,008

15,641

VAT

191,501

77,592

Other creditors

26,113

17,070

Accrued expenses

60,249

7,598

1,282,944

376,288

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts

7,401

8,728

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members' capital ranks after other creditors on a winding up.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Gorringes LLP for the year ended 31st March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Gorringes LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gorringes LLP and state those matters that we have agreed to state to the members of Gorringes LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gorringes LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Gorringes LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gorringes LLP. You consider that Gorringes LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gorringes LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

1st July 2021