|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
|
FOR |
|
GORNALL EQUESTRIAN LLP |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
|
FOR |
|
GORNALL EQUESTRIAN LLP |
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
|
|
|
|
Page |
|
Balance Sheet | 1 |
|
Notes to the Financial Statements | 3 |
|
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
BALANCE SHEET |
31 MARCH 2022 |
|
31.3.22 | 31.3.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
|
|
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
9,951,267 |
9,626,276 |
|
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
- |
- |
|
MEMBERS' OTHER INTERESTS |
Capital accounts | 10,433,322 | 10,149,857 |
Other reserves | ( |
) | ( |
) |
9,951,267 | 9,626,276 |
|
TOTAL MEMBERS' INTERESTS |
Members' other interests | 9,951,267 | 9,626,276 |
Amounts due from members | 5 | (5,085,924 | ) | (4,514,007 | ) |
4,865,343 | 5,112,269 |
|
|
|
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. |
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
BALANCE SHEET - continued |
31 MARCH 2022 |
|
|
|
|
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 Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the members of the LLP and authorised for issue on
|
|
|
|
|
|
|
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
|
1. | STATUTORY INFORMATION |
|
Gornall Equestrian LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
|
Registered number: |
|
|
Registered office: |
|
|
|
|
|
|
|
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. |
|
Tangible fixed assets |
|
Leasehold property | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles and horse boxes | - |
|
Computer equipment | - |
|
|
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. |
|
Government grants |
Grant income in respect of the Job Retention Scheme is recognised in the period to which the underlying furloughed staff costs relate. |
|
Grant income in respect of the Business Support Scheme is recognised in the period in which the income is received. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Financial instruments |
Bank loans are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
|
2. | ACCOUNTING POLICIES - continued |
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost using the effective rate of interest. |
|
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. |
|
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
|
Creditors |
Short term creditors are measured at the transaction price. |
|
3. | EMPLOYEE INFORMATION |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Leasehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 April 2021 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
) |
|
At 31 March 2022 |
|
|
|
DEPRECIATION |
At 1 April 2021 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) |
|
At 31 March 2022 |
|
|
|
NET BOOK VALUE |
At 31 March 2022 |
|
|
|
At 31 March 2021 |
|
|
|
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Motor |
vehicles |
and horse | Computer |
boxes | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
|
|
|
Additions |
|
|
|
Disposals | ( |
) |
|
( |
) |
At 31 March 2022 |
|
|
|
DEPRECIATION |
At 1 April 2021 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal | ( |
) |
|
( |
) |
At 31 March 2022 |
|
|
|
NET BOOK VALUE |
At 31 March 2022 |
|
|
|
At 31 March 2021 |
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Trade debtors |
|
|
Amounts due from members | 5,085,924 | 4,514,007 |
Other debtors |
|
|
VAT |
|
|
Prepayments and accrued income |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts (see note 8) |
|
|
Trade creditors |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Accruals and deferred income |
|
|
|
|
GORNALL EQUESTRIAN LLP (REGISTERED NUMBER: OC393168) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
|
7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.3.22 | 31.3.21 |
£ | £ |
Bank loans - 1-5 years |
|
|
Bank loans more 5 yr by instal |
|
|
Hire purchase contracts (see note 8) |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 1,770 |
|
8. | LEASING AGREEMENTS |
|
Minimum lease payments under hire purchase fall due as follows: |
|
31.3.22 | 31.3.21 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.3.22 | 31.3.21 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts | 10,740 | 13,943 |
|
|
|
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
|
Loans and other debts due to members rank pari passu in relation to other creditors. |