| Priory Glass & Glazing LLP |
| Registered number: |
OC341097 |
| Balance Sheet |
| as at 31 October 2023 |
| Notes |
|
2023 |
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
- |
|
759 |
| Current assets |
|
|
|
|
|
| Debtors |
4 |
|
88,690 |
|
82,190 |
|
| Creditors: amounts falling due within one year |
5 |
|
(48,642) |
|
(31,547) |
|
| #NAME? |
|
|
40,048 |
|
50,643 |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
40,048 |
|
51,402 |
|
|
| #NAME? |
40,048 |
|
51,402 |
|
|
|
|
|
|
| Represented by: |
|
|
|
|
|
|
| Members' other interests |
| Members' capital classified as equity |
|
|
52,989 |
|
28,630 |
| Other reserves |
|
|
(12,941) |
|
22,772 |
|
|
|
40,048 |
|
51,402 |
|
|
|
|
|
|
|
|
|
40,048 |
|
51,402 |
|
|
|
|
|
|
|
| For the year ended 31 October 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| These accounts were approved by the members on 8 April 2024 and signed on their behalf by: |
|
|
| O Kelly |
| Designated member |
|
| Priory Glass & Glazing LLP |
| Notes to the Accounts |
| for the year ended 31 October 2023 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Division of profits |
|
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 5 years |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the LLP |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 November 2022 |
3,777 |
|
At 31 October 2023 |
3,777 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2022 |
3,018 |
|
Charge for the year |
759 |
|
At 31 October 2023 |
3,777 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2023 |
- |
|
At 31 October 2022 |
759 |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
10,577 |
|
1,627 |
|
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest |
|
74,042 |
|
76,492 |
|
Other debtors |
4,071 |
|
4,071 |
|
|
|
|
|
|
88,690 |
|
82,190 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans and overdrafts |
30,448 |
|
16,199 |
|
Trade creditors |
4,863 |
|
2,712 |
|
Other taxes and social security costs |
11,831 |
|
11,136 |
|
Other creditors |
1,500 |
|
1,500 |
|
|
|
|
|
|
48,642 |
|
31,547 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
Priory Glass & Glazing LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
Spirit House |
|
8 High Street, |
|
West Molesey |
|
Surrey |
|
KT8 2NA |
