REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023 |
FOR |
J & M PROPERTIES BODIAM LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
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 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 |
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 |
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 |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 February 2023 |
DEPRECIATION |
At 1 March 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2022 |
and 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 28 February 2022 |
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 |
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 |
Trade creditors |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
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. |