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REGISTERED NUMBER: OC377433 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

14 PEMBRIDGE ROAD LLP

14 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377433)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

14 PEMBRIDGE ROAD LLP

GENERAL INFORMATION
for the year ended 31 March 2022







DESIGNATED MEMBERS: Mrs M Lyons
Miss D Lyons





REGISTERED OFFICE: 88 Crawford Street
London
W1H 2EJ





REGISTERED NUMBER: OC377433 (England and Wales)





ACCOUNTANTS: Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ

14 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377433)

BALANCE SHEET
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,500,000 3,500,000

CURRENT ASSETS
Debtors 5 889,819 844,450
Cash at bank 19,488 4,298
909,307 848,748
CREDITORS
Amounts falling due within one year 6 29,048 31,214
NET CURRENT ASSETS 880,259 817,534
TOTAL ASSETS LESS CURRENT LIABILITIES 4,380,259 4,317,534

CREDITORS
Amounts falling due after more than one year 7 1,237,500 1,237,500
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,142,759 3,080,034

LOANS AND OTHER DEBTS DUE TO MEMBERS 8 1,156,875 1,094,150

MEMBERS' OTHER INTERESTS
Fair value reserve 1,985,884 1,985,884
3,142,759 3,080,034

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,156,875 1,094,150
Members' other interests 1,985,884 1,985,884
3,142,759 3,080,034

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.

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 20 July 2022 and were signed by:





Mrs M Lyons - Designated member

14 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377433)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2022

1. STATUTORY INFORMATION

14 Pembridge Road 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 as modified by the revaluation of certain assets.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the LLP.

Turnover
Turnover is measured at the fair value of the consideration received or receivable in respect of rent and service charge, excluding discounts, rebates, value added tax and other sales taxes. They are recognised in the period that they relate to.

Investment property
Investment property is initially measured at cost on acquisition and subsequently at fair value as at each accounts date. Changes in fair value are recognised in the income statement.

Employee benefits
The LLP provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

Short term benefits:
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Annual bonus plans:
The LLP recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made.

Defined contribution pension plans:
The LLP operates a defined contribution plan. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate fund. Under defined contribution plans, the LLP has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the LLP pays contributions to privately administered pension plans on a contractual or voluntary basis. The LLP has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2021 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021
and 31 March 2022 3,500,000
NET BOOK VALUE
At 31 March 2022 3,500,000
At 31 March 2021 3,500,000

Fair value at 31 March 2022 is represented by:
£   
Valuation in 2022 3,500,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 889,819 844,450

14 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377433)

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 29,048 31,214

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 1,237,500 1,237,500

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' are unsecured and rank equally with debts to other unsecured creditors in a winding up.

9. RELATED PARTY DISCLOSURES

Mrs M Lyons and Miss D Lyons are both members of 10 Pembridge Road LLP.

Other debtors include £850,704 (2021: £802,848 ) owed by 10 Pembridge Road LLP.

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
14 PEMBRIDGE ROAD LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of 14 Pembridge Road LLP for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of 14 Pembridge Road LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 14 Pembridge Road LLP and state those matters that we have agreed to state to the members of 14 Pembridge Road LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 14 Pembridge Road LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that 14 Pembridge Road 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 profit of 14 Pembridge Road LLP. You consider that 14 Pembridge Road 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 financial statements of 14 Pembridge Road 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.






Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ


20 July 2022