Registered number
OC394342
Silverlake Estates LLP
Filleted Accounts
31 March 2022
Silverlake Estates LLP
Registered number: OC394342
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 5,800,000 5,800,000
Current assets
Debtors 4 137,235 536,722
Cash at bank and in hand 58,643 178,016
195,878 714,738
Creditors: amounts falling due within one year 5 (294,878) (328,685)
Net current (liabilities)/assets (99,000) 386,053
Total assets less current liabilities 5,701,000 6,186,053
Creditors: amounts falling due after more than one year 6 (32,594) -
Net assets attributable to members 5,668,406 6,186,053
Represented by:
Loans and other debts due to members 7 1,730,363 1,570,736
Members' other interests
Members' capital classified as equity 3,938,043 4,615,317
5,668,406 6,186,053
Total members' interests
Loans and other debts due to members 7 1,730,363 1,570,736
Members' other interests 3,938,043 4,615,317
5,668,406 6,186,053
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 13 July 2022 and signed on their behalf by:
M R Shooter
Designated member
Silverlake Estates 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 represents rents receivable and other similar income.
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.
Investment property
Investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2022 2021
Number Number
Average number of persons employed by the LLP - -
3 Tangible fixed assets
Freehold investment property
£
Fair value
At 1 April 2021 5,800,000
At 31 March 2022 5,800,000
Depreciation
At 31 March 2022 -
Net book value
At 31 March 2022 5,800,000
At 31 March 2021 5,800,000
4 Debtors 2022 2021
£ £
Trade debtors 21,283 160,031
Other debtors 115,952 376,691
137,235 536,722
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans 9,073 50,000
Trade creditors 42,253 41,653
Other taxes and social security costs 13,180 53,631
Other creditors 230,372 183,401
294,878 328,685
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 32,594 -
7 Loans and other debts due to members 2022 2021
£ £
Amounts due to members in respect of profits 1,730,363 1,570,736
Amounts falling due within one year 1,730,363 1,570,736
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Silverlake Estates LLP is a limited liability partnership incorporated in England. Its registered office is:
9 Bonhill Street
London
EC2A 4DJ
Silverlake Estates LLP OC394342 false 2021-04-01 2022-03-31 2022-03-31 VT Final Accounts April 2022 M R Shooter No description of principal activity OC394342 2020-04-01 2021-03-31 OC394342 core:WithinOneYear 2021-03-31 OC394342 core:AfterOneYear 2021-03-31 OC394342 1 2021-03-31 OC394342 core:ShareCapital 2021-03-31 OC394342 2021-04-01 2022-03-31 OC394342 bus:LimitedLiabilityPartnershipLLP 2021-04-01 2022-03-31 OC394342 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 OC394342 bus:PartnerLLP20 2021-04-01 2022-03-31 OC394342 3 2021-04-01 2022-03-31 OC394342 1 2021-04-01 2022-03-31 OC394342 2 2021-04-01 2022-03-31 OC394342 4 2021-04-01 2022-03-31 OC394342 countries:England 2021-04-01 2022-03-31 OC394342 bus:FRS102 2021-04-01 2022-03-31 OC394342 bus:FullAccounts 2021-04-01 2022-03-31 OC394342 2022-03-31 OC394342 core:WithinOneYear 2022-03-31 OC394342 core:AfterOneYear 2022-03-31 OC394342 1 2022-03-31 OC394342 core:ShareCapital 2022-03-31 OC394342 core:LandBuildings 2022-03-31 OC394342 2021-03-31 OC394342 core:LandBuildings 2021-03-31 iso4217:GBP xbrli:pure