1 April 2021 false No description of principal activity Taxfiler 2022.8.3 OC382540business:LimitedLiabilityPartnershipLLP2021-04-012022-03-31 OC3825402021-03-31 OC3825402021-04-012022-03-31 OC382540business:AuditExemptWithAccountantsReport2021-04-012022-03-31 OC382540business:FullAccounts2021-04-012022-03-31 OC3825402022-03-31 OC3825402021-03-31 OC382540core:WithinOneYear2022-03-31 OC382540core:WithinOneYear2021-03-31 OC382540core:AfterOneYear2022-03-31 OC382540core:AfterOneYear2021-03-31 OC382540core:RevaluationReserve2022-03-31 OC382540core:RevaluationReserve2021-03-31 OC382540business:SmallEntities2021-04-012022-03-31 OC382540business:PartnerLLP22021-04-012022-03-31 OC382540countries:EnglandWales2021-04-012022-03-31 OC382540business:RegisteredOffice2021-04-012022-03-31 OC382540core:WithinOneYear2021-04-012022-03-31 OC382540core:AfterOneYear2021-04-012022-03-31 OC3825402020-04-012021-03-31 iso4217:GBP xbrli:pure
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
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D & G Properties Crewe LLP Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Investment property
575,000 
575,000 
Current assets
Debtors
- 
9,750 
Cash at bank and in hand
46,856 
15,435 
46,856 
25,185 
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 
Represented by:
Loans and other debts due to members
270,036 
227,142 
Members' other interests
Revaluation reserve
202,279 
202,279 
472,315 
429,421 
Total members' interests
Loans and other debts due to members
270,036 
227,142 
Members' other interests
202,279 
202,279 
472,315 
429,421 
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
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D & G Properties Crewe LLP Notes to the Accounts for the year ended 31 March 2022
1
Accounting policies
Basis of preparation
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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Members' remuneration
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
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
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 property
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.
2
Statutory information
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.
3
Investment property
2022 
£ 
Fair value at 1 April 2021
575,000 
At 31 March 2022
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.
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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 
30,834 
33,132 
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 
270,036 
227,142 
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).
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