REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
BURLING LAND INVESTMENTS LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
BURLING LAND INVESTMENTS LLP |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
BURLING LAND INVESTMENTS LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of investment land rental. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £14,733 (2022 - £16,392 profit). |
MEMBERS' INTERESTS |
The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members capital are disclosed in note 1 of the financial statements. |
The members interests are disclosed within the notes to the financial statements. |
ON BEHALF OF THE MEMBERS: |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2023 |
31.3.23 | 31.3.22 |
£ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
389,220 |
374,487 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
389,220 |
374,487 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 389,220 | 374,487 |
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. |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
BALANCE SHEET - continued |
31 MARCH 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Burling Land Investments 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 |
In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. Against the backdrop of the COVID-19 Pandemic the directors have paid particular attention to likely cashflow requirements and the future availability of adequate cashflow to the company. |
On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion. |
Turnover |
Turnover represents receipts from promotion agreements and rents due during the period. |
Investment property |
Investment property is shown at the most recent fair valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to the profit and loss reserves. |
Investment land and properties are not depreciated due to annual revaluations. |
Capital subscription and repayment |
The capital requirements of the LLP are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. No interest is paid on capital. |
Profit allocation |
The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members. |
During the year members draw sums as agreed by the Designated Members, taking into account the LLP's cash requirements for operating and investing activities. |
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 |
BURLING LAND INVESTMENTS LLP (REGISTERED NUMBER: OC402841) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | INVESTMENT PROPERTY - continued |
Included in fair value of investment property is freehold land of £ 3,300,000 (2022 - £ 3,300,000 ) which is not depreciated. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other creditors | 3,000,000 | 3,000,000 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
31.3.23 | 31.3.22 |
£ | £ |
Amounts owed to members in respect of profits | 389,220 | 374,487 |
Falling due within one year | 389,220 | 374,487 |
Loans and other debts due to member's (other than member's capital classified as debt) would rank after unsecured creditors. |
9. | RELATED PARTY DISCLOSURES |
An amount of £3,000,000 is show in other creditors as owed to A Burling. There are no terms attached to this loan. |