Limited Liability Partnership registration number OC329507 (England and Wales)
BILLINGE INVESTMENTS LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
BILLINGE INVESTMENTS LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
BILLINGE INVESTMENTS LLP
BALANCE SHEET
AS AT 5 APRIL 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
2
721,250
721,250
Current assets
Debtors
3
326
323
Cash at bank and in hand
6,031
420
6,357
743
Creditors: amounts falling due within one year
4
(33,238)
(3,130)
Net current liabilities
(26,881)
(2,387)
Total assets less current liabilities
694,369
718,863
Creditors: amounts falling due after more than one year
5
(3,792)
(5,542)
Net assets attributable to members
690,577
713,321
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
14,194
29,359
Other amounts
676,383
683,962
690,577
713,321

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 5 April 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

BILLINGE INVESTMENTS LLP
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2023
- 2 -
The financial statements were approved by the members and authorised for issue on 10 October 2023 and are signed on their behalf by:
10 October 2023
Mr Ansar Rafiq
Designated member
Limited Liability Partnership Registration No. OC329507
BILLINGE INVESTMENTS LLP
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023
- 3 -
1
Accounting policies
Limited liability partnership information

Billinge Investments LLP is a limited liability partnership incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The limited liability partnership is reliant upon the financial support of its members and banking providers in order to meet its liabilities as they fall due. The members have indicated that this support will continue for the foreseeable future and, as a result, have continued to adopt the going concern basis in preparing the financial statements.

1.3
Turnover
Turnover represents amounts receivable for the rental of investment properties.
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BILLINGE INVESTMENTS LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 5 APRIL 2023
- 4 -
2
Investment property
2023
£
Fair value
At 6 April 2022 and 5 April 2023
721,250

The historical cost of the investment properties is £721,250. The members consider the fair value to be not materially different from the historic cost.

3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Prepayments and accrued income
326
323
4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,750
1,750
Other creditors
30,000
-
Accruals and deferred income
1,488
1,380
33,238
3,130
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,792
5,542
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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