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REGISTERED NUMBER: OC425847 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Cornhill Commercial LLP

Cornhill Commercial LLP (Registered number: OC425847)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornhill Commercial LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mrs J A Walker
Mrs A R Mason
R Mason





REGISTERED OFFICE: 83 Church Lane
Eaton
NR4 6NY





REGISTERED NUMBER: OC425847 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Cornhill Commercial LLP (Registered number: OC425847)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,515 1,997
Investment property 5 6,099,999 5,784,999
6,102,514 5,786,996

CURRENT ASSETS
Debtors 6 280,323 146,427
Cash at bank 1,048,200 109,359
1,328,523 255,786
CREDITORS
Amounts falling due within one year 7 (98,641 ) (97,950 )
NET CURRENT ASSETS 1,229,882 157,836
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

7,332,396

5,944,832

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 7,332,396 5,944,832
7,332,396 5,944,832

TOTAL MEMBERS' INTERESTS
Members' other interests 7,332,396 5,944,832

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 31 March 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.

Cornhill Commercial LLP (Registered number: OC425847)

Balance Sheet - continued
31 March 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 5 October 2023 and were signed by:





Mrs A R Mason - Designated member

Cornhill Commercial LLP (Registered number: OC425847)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Cornhill Commercial 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
Turnover 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 to write off each asset over its estimated useful life.

Computer equipment - over 3 years, straight line basis.

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 year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 3,073
Additions 974
At 31 March 2023 4,047
DEPRECIATION
At 1 April 2022 1,076
Charge for year 456
At 31 March 2023 1,532
NET BOOK VALUE
At 31 March 2023 2,515
At 31 March 2022 1,997

Cornhill Commercial LLP (Registered number: OC425847)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 5,784,999
Additions 668,051
Disposals (1,625,000 )
Revaluations 1,271,949
At 31 March 2023 6,099,999
NET BOOK VALUE
At 31 March 2023 6,099,999
At 31 March 2022 5,784,999

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 1,083,328
Valuation in 2022 (911,678 )
Valuation in 2023 1,271,949
Cost 4,656,400
6,099,999

If investment property had not been revalued it would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 4,656,400 4,986,660

Investment property was valued on an open market basis on 31 March 2023 by the designated members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 108,396 129,668
Other debtors 171,927 16,759
280,323 146,427

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 943 -
Other creditors 97,698 97,950
98,641 97,950