D & K Autos LLP - LLP accounts 23.2

REGISTERED NUMBER: OC317749 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

D & K AUTOS LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

ALN Garages Limited

The Tyre Warehouse Brackley Limited

REGISTERED OFFICE:

114 High Street

Cranfield

Bedfordshire

MK43 0DG

REGISTERED NUMBER:

OC317749 (England and Wales)

ACCOUNTANTS:

JVCA Ltd, Chartered Accountants

114 High Street

Cranfield

Bedford

MK43 0DG

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of maintenance and repair of motor vehicles.

DESIGNATED MEMBERS

The designated members during the year under review were:

ALN Garages Limited

The Tyre Warehouse Brackley Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £96,481 (2022 - £84,131 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

ALN Garages Limited - Designated member

29 January 2024

TURNOVER

618,367

561,597

Cost of sales

178,393

171,438

GROSS PROFIT

439,974

390,159

Distribution costs

1,321

5,130

Administrative expenses

342,172

300,898

343,493

306,028

OPERATING PROFIT and

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

96,481

84,131

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

3,348

11,318

3,348

11,318

CURRENT ASSETS

Stocks

11,450

8,463

Debtors

7

9,440

14,202

Cash at bank

87,475

132,316

108,365

154,981

CREDITORS

Amounts falling due within one year

8

(159,893

)

(8,826

)

NET CURRENT ASSETS

268,258

163,807

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

271,606

175,125

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

271,606

175,125

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

271,606

175,125

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 March 2023.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 29 January 2024 and were signed by:

ALN Garages Limited - Designated member

1.	STATUTORY INFORMATION

D & K Autos 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 three 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.

Plant and machinery etc

-

20% on cost

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2022 - 5 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2023

2022

£

£

Depreciation - owned assets

7,970

9,281

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

10,000

AMORTISATION

At 1 April 2022

and 31 March 2023

10,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

90,546

3,990

94,536

DEPRECIATION

At 1 April 2022

80,724

2,494

83,218

Charge for year

6,973

997

7,970

At 31 March 2023

87,697

3,491

91,188

NET BOOK VALUE

At 31 March 2023

2,849

499

3,348

At 31 March 2022

9,822

1,496

11,318

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

3,252

4,254

Staff Loan

5,779

7,387

Prepayments

409

2,561

9,440

14,202

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

26,078

60,063

Social security and other taxes

-

4,213

Pensions Payable

-

3,126

VAT

13,014

12,150

D&K - ALN Account

(30,953

)

36,686

The Tyre Warehouse Account

54,695

54,695

Kalji Ltd

(210,768

)

(180,354

)

Bucks Horse Box Hire Ltd

(23,291

)

(13,560

)

Accrued expenses

11,332

14,155

(159,893

)

(8,826

)

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans due from members would rank last in relation to other creditors as the member is the ultimate controlling party.

10.	RELATED PARTY DISCLOSURES

D&K Autos LLP is controlled by the directors of ALN Garages Ltd & The Tyre Warehouse Brackley Ltd.

The directors of these companies are Mr A Goodey & Mrs K Goodey.