REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
14 PEMBRIDGE ROAD LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
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 |
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 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. |
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 |
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 |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
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 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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. |
88 Crawford Street |
London |
W1H 2EJ |