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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019 |
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TURF MACHINERY ENGINEERING LLP |
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REGISTERED NUMBER:
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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019 |
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FOR |
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TURF MACHINERY ENGINEERING LLP |
TURF MACHINERY ENGINEERING LLP (REGISTERED NUMBER: OC357184) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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General Information | 1 |
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Report of the Members | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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TURF MACHINERY ENGINEERING LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MAY 2019 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Unit B1F |
Fairoaks Airport |
Chobham |
Surrey |
GU24 8HU |
TURF MACHINERY ENGINEERING LLP (REGISTERED NUMBER: OC357184) |
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REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MAY 2019 |
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The members present their report with the financial statements of the LLP for the year ended 31 May 2019. |
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PRINCIPAL ACTIVITIES |
The principal activities of the LLP in the year under review were those of sale and repair of turf machinery. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £246,854 (2018 - £180,752 profit). |
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MEMBERS' INTERESTS |
Capital is repayable upon demand. |
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ON BEHALF OF THE MEMBERS: |
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TURF MACHINERY ENGINEERING LLP (REGISTERED NUMBER: OC357184) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MAY 2019 |
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31.5.19 | 31.5.18 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
246,854 |
180,752 |
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PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
246,854 |
180,752 |
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Members' remuneration charged as an
expense |
5 |
(246,854 |
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(180,752 |
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PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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TURF MACHINERY ENGINEERING LLP (REGISTERED NUMBER: OC357184) |
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BALANCE SHEET |
31 MAY 2019 |
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31.5.19 | 31.5.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
371,764 |
340,071 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
9 |
371,764 |
340,071 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 371,764 | 340,071 |
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The members acknowledge their responsibilities for: |
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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 |
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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. |
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The financial statements were approved by the members of the LLP on
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TURF MACHINERY ENGINEERING LLP (REGISTERED NUMBER: OC357184) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2019 |
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1. | STATUTORY INFORMATION |
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Turf Machinery Engineering LLP is registered in England and Wales. The LLP's registered number and |
registered office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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31.5.19 | 31.5.18 |
£ | £ |
Depreciation - owned assets |
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5. | INFORMATION IN RELATION TO MEMBERS |
31.5.19 | 31.5.18 |
£ | £ |
Members' remuneration charged as an expense |
Partners' fixed profit share | 90,372 | 91,604 |
Automatic division of profit | 156,482 | 89,148 |
Total remuneration | 246,854 | 180,752 |
TURF MACHINERY ENGINEERING LLP (REGISTERED NUMBER: OC357184) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2019 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2018 |
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Additions |
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Disposals | ( |
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At 31 May 2019 |
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DEPRECIATION |
At 1 June 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Trade debtors |
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Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.19 | 31.5.18 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
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Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a |
winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an |
event. There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' |
other interests'. |