The Champagne And Gift Company LLP - Accounts to registrar (filleted) - small 23.1.5

REGISTERED NUMBER: OC349195 (England and Wales)

Financial Statements for the Year Ended 31 October 2022

for

The Champagne And Gift Company LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr C H Wilce

Mrs S Wilce

Mr J Wilce

REGISTERED OFFICE:

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

REGISTERED NUMBER:

OC349195 (England and Wales)

ACCOUNTANTS:

Nordens

The Retreat

406 Roding Lane South

Woodford Green

Essex

IG8 8EY

FIXED ASSETS

Tangible assets

4

11,723

13,866

CURRENT ASSETS

Stocks

83,050

75,940

Debtors

5

18,893

31,912

Cash at bank and in hand

11,248

4,620

113,191

112,472

CREDITORS

Amounts falling due within one year

6

109,169

108,306

NET CURRENT ASSETS

4,022

4,166

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

15,745

18,032

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

15,745

18,032

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

15,745

18,032

Amounts due from members

5

(5,362

)

(5,482

)

10,383

12,550

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 31 October 2022.

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 25 July 2023 and were signed by:

Mrs S Wilce - Designated member

1.	STATUTORY INFORMATION

The Champagne And Gift Company 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

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.

Government grants

Government grants represents the grant received in relation to job retention scheme and small business grant from local council.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2021

-

14,167

30,833

7,277

52,277

Additions

375

121

-

723

1,219

At 31 October 2022

375

14,288

30,833

8,000

53,496

DEPRECIATION

At 1 November 2021

-

10,579

24,224

3,608

38,411

Charge for year

56

556

1,652

1,098

3,362

At 31 October 2022

56

11,135

25,876

4,706

41,773

NET BOOK VALUE

At 31 October 2022

319

3,153

4,957

3,294

11,723

At 31 October 2021

-

3,588

6,609

3,669

13,866

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Trade debtors

9,581

22,480

Other debtors

9,312

9,432

18,893

31,912

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Bank loans and overdrafts

10,193

1,379

Trade creditors

24,282

5,942

Taxation and social security

7,795

13,013

Other creditors

66,899

87,972

109,169

108,306

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The loan due to member will be distributed as follow 1% to Mr. C H Wilce, 74% Mrs. S Wilce and 25% Mr. J Wilce.