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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 2021 |
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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 2021 |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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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 | 6 |
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BREAKWELLS LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2021 |
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DESIGNATED MEMBERS: |
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J E Breakwell |
H Breakwell |
Mrs E G Breakwell |
J R Burston |
Mrs G A Burston |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2021 |
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The members present their report with the financial statements of the LLP for the year ended 31 March 2021. |
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DESIGNATED MEMBERS |
The designated members during the year under review were: |
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J E Breakwell |
H Breakwell |
Mrs E G Breakwell |
J R Burston |
Mrs G A Burston |
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RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £47,351 (2020 - £13,830 profit). |
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MEMBERS' INTERESTS |
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ON BEHALF OF THE MEMBERS: |
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BREAKWELLS LLP (REGISTERED NUMBER: OC301632) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2021 |
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2021 | 2020 |
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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(84,204 | ) | 46,105 |
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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)/PROFIT 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 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash in hand |
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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 |
12,352 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
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12,352 |
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MEMBERS' OTHER INTERESTS |
Revaluation reserve | 10 |
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165,000 | 12,352 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | - | 12,352 |
Members' other interests | 165,000 | - |
Amounts due from members | 6 | (163,955 | ) | - |
1,045 | 12,352 |
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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 2021 |
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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 2021 |
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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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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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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. |
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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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2021 | 2020 |
£ | £ |
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 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2020 |
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Additions |
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Disposals |
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Revaluations |
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At 31 March 2021 |
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DEPRECIATION |
At 1 April 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2021 |
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NET BOOK VALUE |
At 31 March 2021 |
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At 31 March 2020 |
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Cost or valuation at 31 March 2021 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2021 | 165,000 | - | 165,000 |
Cost | 515,000 | 992,914 | 1,507,914 |
680,000 | 992,914 | 1,672,914 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
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 2021 |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Invoice financing | 2,085 | 472,859 |
Hire purchase | 120,709 | 239,822 |
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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 |
£ |
Revaluation |
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At 31 March 2021 |
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