REGISTERED NUMBER:
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BREAKWELLS LLP |
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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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REGISTERED NUMBER:
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BREAKWELLS LLP |
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REPORT OF THE MEMBERS AND |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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General Information | 1 |
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Report of the Members | 2 |
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Chartered Accountants' Report | 3 |
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Income Statement | 4 |
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Balance Sheet | 5 |
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Notes to the Financial Statements | 7 |
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BREAKWELLS LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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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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15-17 Church Street |
Stourbridge |
West Midlands |
DY8 1LU |
BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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The members present their report with the financial statements of the LLP for the year ended 31 March 2022. |
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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 loss for the year before members' remuneration and profit shares was £42,582 (2021 - £47,351 loss). |
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MEMBERS' INTERESTS |
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ON BEHALF OF THE MEMBERS: |
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CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BREAKWELLS LLP |
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In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Breakwells LLP for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the members of Breakwells LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Breakwells LLP and state those matters that we have agreed to state to the members of Breakwells LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Breakwells LLP and its members, as a body, for our work or for this report. |
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It is your duty to ensure that Breakwells LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Breakwells LLP. You consider that Breakwells LLP is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Breakwells LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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15-17 Church Street |
Stourbridge |
West Midlands |
DY8 1LU |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2022 |
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2022 | 2021 |
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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21,676 | (73,432 | ) |
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Other operating income |
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OPERATING PROFIT | 4 |
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Interest payable and similar expenses |
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LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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BALANCE SHEET |
31 MARCH 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
165,000 |
165,000 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
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MEMBERS' OTHER INTERESTS |
Revaluation reserve | 10 |
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165,000 | 165,000 |
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TOTAL MEMBERS' INTERESTS |
Members' other interests | 165,000 | 165,000 |
Amounts due from members | 6 | (290,365 | ) | (163,955 | ) |
(125,365 | ) | 1,045 |
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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. |
BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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BALANCE SHEET - continued |
31 MARCH 2022 |
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The financial statements were approved by the members of the LLP and authorised for issue on
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Breakwells 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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Land and buildings | - |
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Plant and machinery etc | - |
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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 NIL (2021 -
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2022 | 2021 |
£ | £ |
Depreciation - owned assets |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2021 |
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Disposals |
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At 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Cost or valuation at 31 March 2022 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
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Valuation in 2021 | 165,000 | - | 165,000 |
Cost | 515,000 | 286,339 | 801,339 |
680,000 | 286,339 | 966,339 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Other creditors |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Other loans more 5yrs instal | 186,732 | - |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Hire purchase contracts | - | 120,709 |
Invoice financing | - | 2,085 |
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The invoice financing is secured via a fixed charge over the property and assets owned by Breakwells LLP. Hire purchase agreements are secured over the assets to which they relate. |
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10. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2021 |
and 31 March 2022 |
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