REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Ten Albemarle Limited Liability |
Partnership |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Ten Albemarle Limited Liability |
Partnership |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 5 |
Ten Albemarle Limited Liability |
Partnership |
General Information |
for the Year Ended 31 March 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Hine House |
25 Regent Street |
Nottingham |
NG1 5BS |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
35,165,164 |
35,092,037 |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Balance Sheet - continued |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
581,059 |
507,932 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 8,640,356 | 8,640,356 |
Fair value reserve | 8 |
35,165,164 | 35,092,037 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members |
7 |
581,059 |
507,932 |
Members' other interests | 34,584,105 | 34,584,105 |
Amounts due from members | 5 | (27,910 | ) | (99,803 | ) |
35,137,254 | 34,992,234 |
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. |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Balance Sheet - 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 |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Ten Albemarle Limited Liability Partnership 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 represents rental and service charge income from freehold property held by the LLP. |
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. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Freehold land and buildings were last revalued at 26 February 2016 by external valuers Harper Dennis Hobbs, on an open market basis. The members do not consider that there has been any material increase in their market value at 31 March 2022. With regard to the aftermath of the Covid-19 pandemic and other ongoing economic challenges, they recognise the material valuation uncertainty arising as a result, but there is currently no definite evidence to suggest that the values in the financial statements require material amendment. |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2009 | (1,091,406 | ) |
Valuation in 2010 | 2,161,262 |
Valuation in 2011 | 4,290,305 |
Valuation in 2012 | 489,034 |
Valuation in 2013 | 1,935,345 |
Valuation in 2014 | (39,759 | ) |
Valuation in 2015 | 15,298 |
Valuation in 2016 | 18,200,000 |
Valuation in 2017 | (2,800 | ) |
Valuation in 2018 | (13,530 | ) |
Cost | 8,756,251 |
34,700,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up the members would settle any unsecured creditors in priority to the loans and other debts due to them. |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2022 |
and 31 March 2023 |
Ten Albemarle Limited Liability |
Partnership (Registered number: OC308629) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
9. | RELATED PARTY DISCLOSURES |
The LLPs VAT liabilities are paid by Floral Street Property Partners Limited under a group registration and at the year end £77,023 (2022 £41,472) was owed to the company as a result. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The immediate parent of Ten Albemarle Limited Liability Partnership is Floral Street Property Partners Limited which is controlled by Sir Paul Smith. |