Registered No. OC382540 (England and Wales)
D & G Properties Crewe LLP
Unaudited accounts
for the year ended 31 March 2022
Report to the members on the preparation of the unaudited statutory financial statements of
D & G Properties Crewe LLP
for the year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of
D & G Properties Crewe LLP for the year ended
31 March 2022 as set out on pages
3 -
5 from the LLP's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
This report is made solely to the Members of D & G Properties Crewe LLP, as a body, in accordance with the terms of our engagement letter dated 21 December 2021. Our work has been undertaken solely to prepare for your approval the financial statements of D & G Properties Crewe LLP and state those matters that we have agreed to state to the members of D & G Properties Crewe LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D & G Properties Crewe LLP and its members as a body for our work or for this report.
It is your duty to ensure that D & G Properties Crewe 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 D & G Properties Crewe LLP. You consider that D & G Properties Crewe LLP is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of D & G Properties Crewe 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.
Dove Accountants, Tax & Business Advisors
Chartered Certified Accountants
Suite 2, The Wellington
78 High Street
Uttoxeter
Staffordshire
ST14 7JD
12 August 2022
D & G Properties Crewe LLP
Statement of financial position
as at 31 March 2022
Investment property
575,000
575,000
Cash at bank and in hand
46,856
15,435
Creditors: amounts falling due within one year
(30,834)
(33,132)
Net current assets/(liabilities)
16,022
(7,947)
Total assets less current liabilities
591,022
567,053
Creditors: amounts falling due after more than one year
(118,707)
(137,632)
Net assets attributable to members
472,315
429,421
Loans and other debts due to members
270,036
227,142
Revaluation reserve
202,279
202,279
Loans and other debts due to members
270,036
227,142
Members' other interests
202,279
202,279
For the year ending 31 March 2022 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 12 August 2022.
Mrs Clare Reeves
Designated member
Limited Liability Partnership Registration No. OC382540
D & G Properties Crewe LLP
Notes to the Accounts
for the year ended 31 March 2022
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
D & G Properties Crewe LLP is a limited liability partnership, incorporated in England and Wales, registration number OC382540. Its registered office is Ivy Cottage, Grindley, Stafford, ST18 0LS.
Fair value at 1 April 2021
575,000
The investment property was last valued on 11 May 2020 at market value by registered professional valuers. The historical cost is £372,721.
D & G Properties Crewe LLP
Notes to the Accounts
for the year ended 31 March 2022
4
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
18,318
17,711
Taxes and social security costs
2,266
4,875
Other creditors
10,250
10,546
Bank loans are secured on the investment property.
5
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
118,707
137,632
Bank loans are secured on the investment property.
6
Loans and other debts due to members
2022
2021
Loans from members
188,000
188,000
Amounts due to members in respect of profits
82,036
39,142
Amounts falling due within one year
270,036
227,142
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 2 (2021: 2).