REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 3 DECEMBER 2021 TO 31 MARCH 2023 |
FOR |
RED EDGE PROPERTIES LLP |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 3 DECEMBER 2021 TO 31 MARCH 2023 |
FOR |
RED EDGE PROPERTIES LLP |
RED EDGE PROPERTIES LLP (REGISTERED NUMBER: OC440192) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 3 DECEMBER 2021 TO 31 MARCH 2023 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
RED EDGE PROPERTIES LLP |
GENERAL INFORMATION |
FOR THE PERIOD 3 DECEMBER 2021 TO 31 MARCH 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
869 High Road |
London |
N12 8QA |
RED EDGE PROPERTIES LLP (REGISTERED NUMBER: OC440192) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 6 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 928,226 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
7,199 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 921,027 |
928,226 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 7,199 |
Members' other interests | 921,027 |
928,226 |
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. |
RED EDGE PROPERTIES LLP (REGISTERED NUMBER: OC440192) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2023 |
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 |
RED EDGE PROPERTIES LLP (REGISTERED NUMBER: OC440192) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 3 DECEMBER 2021 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Red Edge Properties 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 |
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 properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been decreased by the amount of depreciation. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Bank loans |
RED EDGE PROPERTIES LLP (REGISTERED NUMBER: OC440192) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 3 DECEMBER 2021 TO 31 MARCH 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
£ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans due in more than 5 |
years |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with other creditors on a winding up. |