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REGISTERED NUMBER: OC315575 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

J & M PROPERTIES BODIAM LLP

J & M PROPERTIES BODIAM LLP (REGISTERED NUMBER: OC315575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J & M PROPERTIES BODIAM LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DESIGNATED MEMBERS: J Burgess
Mrs M G Burgess





REGISTERED OFFICE: 10 Lonsdale Gardens
TUNBRIDGE WELLS
Kent
TN1 1NU





REGISTERED NUMBER: OC315575 (England and Wales)





ACCOUNTANTS: Wells Associates
10 Lonsdale Gardens
Tunbridge Wells
Kent
TN1 1NU

J & M PROPERTIES BODIAM LLP (REGISTERED NUMBER: OC315575)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 42,258 37,255
Investment property 5 1,300,000 1,300,000
1,342,258 1,337,255

CURRENT ASSETS
Debtors 6 386,229 385,737
Cash at bank 7,565 10,985
393,794 396,722
CREDITORS
Amounts falling due within one year 7 86,555 88,759
NET CURRENT ASSETS 307,239 307,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,649,497

1,645,218

CREDITORS
Amounts falling due after more than one year 8 - 14,855
NET ASSETS ATTRIBUTABLE TO MEMBERS 1,649,497 1,630,363

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

2,624,497

2,605,363

MEMBERS' OTHER INTERESTS
Capital accounts (975,000 ) (975,000 )
1,649,497 1,630,363

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 2,624,497 2,605,363
Members' other interests (975,000 ) (975,000 )
Amounts due from members 6 (380,473 ) (380,473 )
1,269,024 1,249,890

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 28 February 2023.

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.

J & M PROPERTIES BODIAM LLP (REGISTERED NUMBER: OC315575)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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 25 September 2023 and were signed by:




J Burgess - Designated member




Mrs M G Burgess - Designated member


J & M PROPERTIES BODIAM LLP (REGISTERED NUMBER: OC315575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

J & M Properties Bodiam 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Investment property
In accordance with FRS 102 reporting standards investment property is initially recognised at cost including directly attributable expenditure, with no depreciation charged on the properties held during the financial year.

Subsequent to initial recognition investment property is carried at fair value. Fair value is the price that would be received for the sale of the asset between two active market participants in an arms length transaction at the financial position date. Any fair value gains or losses arising from remeasurement are to be projected through the profit and loss account in accordance with the reporting standards.

Valuations under the fair value model are provided by the directors at the end of the reporting period.

The company is not subject to any restrictions relating to the realisability of investment property, or the remittance of income and proceeds of disposal.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

J & M PROPERTIES BODIAM LLP (REGISTERED NUMBER: OC315575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 55,062 750 54,433 650 110,895
Additions - - 31,995 - 31,995
Disposals - - (34,433 ) - (34,433 )
At 28 February 2023 55,062 750 51,995 650 108,457
DEPRECIATION
At 1 March 2022 45,866 513 26,611 650 73,640
Charge for year 2,299 59 10,108 - 12,466
Eliminated on disposal - - (19,907 ) - (19,907 )
At 28 February 2023 48,165 572 16,812 650 66,199
NET BOOK VALUE
At 28 February 2023 6,897 178 35,183 - 42,258
At 28 February 2022 9,196 237 27,822 - 37,255

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 1,300,000
NET BOOK VALUE
At 28 February 2023 1,300,000
At 28 February 2022 1,300,000

The investment properties have been valued at 28 February 2022 by the members of the LLP, an
independent expert has not been used. The valuation is considered to be the current market value for the
investment properties concerned taking into account the current market conditions, the rental status of the properties and the income arising.

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2017 (825,000 )
Valuation in 2019 (150,000 )
Cost 2,275,000
1,300,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts due from members 380,473 380,473
Other debtors 5,756 5,264
386,229 385,737

J & M PROPERTIES BODIAM LLP (REGISTERED NUMBER: OC315575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 3,333
Trade creditors - 400
Other creditors 84,555 83,026
Accrued expenses 2,000 2,000
86,555 88,759

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 14,855

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.