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REGISTERED NUMBER: OC427141 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2022

for

Fleet Suites LLP

Fleet Suites LLP (Registered number: OC427141)






Contents of the Financial Statements
for the Year Ended 30 April 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fleet Suites LLP

General Information
for the Year Ended 30 April 2022







DESIGNATED MEMBERS: York Row (Holdings) Ltd
T J Binnington
Helvellyn Properties Limited
M M Trice
L A Trice





REGISTERED OFFICE: The Old Rectory
Duncton
Petworth
West Sussex
GU28 0JZ





REGISTERED NUMBER: OC427141 (England and Wales)





ACCOUNTANTS: Maximus Accountancy Services Limited
47 Kensington Road
Chichester
West Sussex
PO19 7XS

Fleet Suites LLP (Registered number: OC427141)

Balance Sheet
30 April 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 851,959 851,959

CURRENT ASSETS
Debtors 5 3,872 15,722
Cash at bank 70,095 85,679
73,967 101,401
CREDITORS
Amounts falling due within one year 6 19,748 33,598
NET CURRENT ASSETS 54,219 67,803
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

906,178

919,762

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

706,178

719,762

MEMBERS' OTHER INTERESTS
Capital accounts 200,000 200,000
906,178 919,762

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 706,178 719,762
Members' other interests 200,000 200,000
906,178 919,762

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 30 April 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.

Fleet Suites LLP (Registered number: OC427141)

Balance Sheet - continued
30 April 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 5 September 2022 and were signed by:





M M Trice - Designated member

Fleet Suites LLP (Registered number: OC427141)

Notes to the Financial Statements
for the Year Ended 30 April 2022

1. STATUTORY INFORMATION

Fleet Suites 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2021
and 30 April 2022 851,959
NET BOOK VALUE
At 30 April 2022 851,959
At 30 April 2021 851,959

The members consider that the fair value of the property at the balance sheet date is not materially different to its original cost, including acquisition costs, at the date of purchase in October 2019.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 3,715 6,723
Other debtors 157 8,999
3,872 15,722

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 682 1,319
Taxation and social security - 12,575
Other creditors 19,066 19,704
19,748 33,598

Fleet Suites LLP (Registered number: OC427141)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

Loans and other debts due to members include interest free loans totalling £608,500 (2021: £608,500) which are repayable on demand from 5 August 2024, being 5 years after the date of the loan agreement.

The remaining balance of loans and other debts due to members of £97,678 (2021: £111,262) consists of £54,081 (2021: £67,665) in respect of undrawn profits and £43,597 (2021: £43,597) of capital introduced.

8. RELATED PARTY DISCLOSURES

Other debtors includes £nil (2021 £8,999) receivable from Helvellyn Properties Limited, a member of the LLP, in respect of rental deposits owed to tenants, and the net amount of rent received less expenditure incurred in respect of the investment property following completion.