REGISTERED NUMBER: OC432890 (England and Wales)

Financial Statements

for the Period 1 April 2021 to 30 March 2022

for

Mysore Partnership LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

I L M Henry

Mysore Limited

Fortress Real Estate Limited

REGISTERED OFFICE:

Yoden House

30 Yoden Way

Peterlee

SR8 1AL

REGISTERED NUMBER:

OC432890 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Oaklea House

46 Coatham Road

Redcar

TS10 1RS

FIXED ASSETS

Investment property

4

3,167,916

3,167,916

CURRENT ASSETS

Debtors

5

15,936

19,619

CREDITORS

Amounts falling due within one year

6

(2,671

)

(2,400

)

NET CURRENT ASSETS

13,265

17,219

TOTAL ASSETS LESS CURRENT LIABILITIES

3,181,181

3,185,135

CREDITORS

Amounts falling due after more than one year

7

(2,260,895

)

(2,260,895

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

920,286

924,240

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

920,286

924,240

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

920,286

924,240

Amounts due from members

5

(12,263

)

(19,619

)

908,023

904,621

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 period ended 30 March 2022.

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.

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 29 September 2023 and were signed by:

I L M Henry - Designated member

1.	STATUTORY INFORMATION

Mysore Partnership 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.

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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

and 30 March 2022

3,167,916

NET BOOK VALUE

At 30 March 2022

3,167,916

At 31 March 2021

3,167,916

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts due from members

12,263

19,619

Other debtors

3,673

-

15,936

19,619

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Accrued expenses

2,671

2,400

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Mortgages

2,260,895

2,260,895

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Mortgages

2,260,895

2,260,895

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of creditors in a liquidation.