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Financial Statements

for the Year Ended 31 March 2022

for

Premier Properties South LLP

Premier Properties South LLP (Registered number: OC429881)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Premier Properties South LLP

General Information
for the Year Ended 31 March 2022







DESIGNATED MEMBERS: J M Rapley
Premier Properties Investments Limited





REGISTERED OFFICE: Yoden House
30 Yoden Way
Peterlee
SR8 1AL





REGISTERED NUMBER: OC429881 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Yoden House
30 Yoden Way
Peterlee
Co. Durham
SR8 1AL

Premier Properties South LLP (Registered number: OC429881)

Balance Sheet
31 March 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 19,963,000 19,963,000

CURRENT ASSETS
Debtors 5 1,000 5,621

CREDITORS
Amounts falling due within one year 6 (9,705 ) (1,621 )
NET CURRENT (LIABILITIES)/ASSETS (8,705 ) 4,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,954,295

19,967,000

CREDITORS
Amounts falling due after more than one
year

7

(9,222,578

)

(9,232,709

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

10,731,717

10,734,291

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

10,731,717

10,734,291

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 10,731,717 10,734,291
Amounts due from members 5 - (5,621 )
10,731,717 10,728,670

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 2022.

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.

Premier Properties South LLP (Registered number: OC429881)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 19 August 2022 and were signed by:





J M Rapley - Designated member

Premier Properties South LLP (Registered number: OC429881)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Premier Properties South 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2021
and 31 March 2022 19,963,000
NET BOOK VALUE
At 31 March 2022 19,963,000
At 31 March 2021 19,963,000

The members see no benefit in revaluing the assets.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts due from members - 5,621
Other debtors 1,000 -
1,000 5,621

Premier Properties South LLP (Registered number: OC429881)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other creditors 6,747 -
Accrued expenses 2,958 1,621
9,705 1,621

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 9,222,578 9,232,709

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Mortgage 9,222,578 9,232,709

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of creditors in a liquidation.