Registered number
OC433894
Golden Circle Property LLP
Filleted Accounts
31 March 2022
Golden Circle Property LLP
Registered number: OC433894
Balance Sheet
as at 31 March 2022
Notes 2022
£
Fixed assets
Tangible assets 3 619,324
Current assets
Cash at bank and in hand 1,103
Creditors: amounts falling due within one year 4 (3,220)
Net current liabilities (2,117)
Total assets less current liabilities 617,207
Creditors: amounts falling due after more than one year 5 (620,789)
Net liabilities attributable to members (3,582)
Represented by:
Loans and other debts due to members 6 (49,486)
Members' other interests
Other reserves 45,904
(3,582)
Total members' interests
Loans and other debts due to members 6 (49,486)
Members' other interests 45,904
(3,582)
For the year ended 31 March 2022 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.
These accounts were approved by the members on 18 July 2022 and signed on their behalf by:
Ajten Sare
Designated member
Golden Circle Property 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
2 Employees 2022
Number
Average number of persons employed by the LLP 1
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 619,324
At 31 March 2022 619,324
Depreciation
At 31 March 2022 -
Net book value
At 31 March 2022 619,324
4 Creditors: amounts falling due within one year 2022
£
Trade creditors 3,220
5 Creditors: amounts falling due after one year 2022
£
Bank loans 205,560
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest 415,779
Other creditors (550)
620,789
6 Loans and other debts due to members 2022
£
Amounts due to members in respect of profits (49,486)
Amounts falling due within one year (49,486)
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Golden Circle Property LLP is a limited liability partnership incorporated in England. Its registered office is:
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