REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
The Highfield House And Grounds LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 October 2022 |
for |
The Highfield House And Grounds LLP |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Contents of the Financial Statements |
for the Year Ended 31 October 2022 |
Page |
Report of the Members | 1 |
Income Statement | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Report of the Members |
for the Year Ended 31 October 2022 |
The members present their report with the financial statements of the LLP for the year ended 31 October 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of an events venue. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
Mrs L Lampard |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £75,670 (2021 - £148,130 loss). |
MEMBERS' INTERESTS |
FINANCIAL INSTRUMENTS |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measure at their settlement value. |
ON BEHALF OF THE MEMBERS: |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Income Statement |
for the Year Ended 31 October 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
(158,981 | ) | (212,453 | ) |
Other operating income |
OPERATING LOSS | 4 | ( |
) | ( |
) |
Interest receivable and similar income |
(74,619 | ) | (148,058 | ) |
Interest payable and similar expenses | ( |
) | ( |
) |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Balance Sheet |
31 October 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
Tangible assets | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
27,693 |
41,669 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
11 |
27,693 |
41,669 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 27,693 | 41,669 |
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 Highfield House And Grounds LLP (Registered number: OC413978) |
Balance Sheet - continued |
31 October 2022 |
The financial statements were approved by the members of the LLP and authorised for issue on |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Notes to the Financial Statements |
for the Year Ended 31 October 2022 |
1. | STATUTORY INFORMATION |
The Highfield House And Grounds LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on the Directors' best knowledge of the amount, events or actions, actual results ultimately differ from these estimates. The Directors do not consider there to be any material estimates and judgements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company/group and value added taxes. |
The company bases its estimate of returns on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement. |
Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest. |
The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer; the company/group retains no continuing involvement or control over the goods; the amount of revenue can be measured reliably; it is probable that future economic benefits will flow to the entity and when the specific criteria relating to each of the company/group's sales channels have been met, as described below. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
2022 | 2021 |
£ | £ |
Depreciation - owned assets |
5. | EXCEPTIONAL ITEMS |
2022 | 2021 |
£ | £ |
Exceptional items | 23,322 | - |
6. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 November 2021 |
and 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
7. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 November 2021 |
Additions |
Disposals |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
Eliminated on disposal |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
The Highfield House And Grounds LLP (Registered number: OC413978) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2022 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Social security and other taxes |
VAT | 47,400 | - |
Other creditors |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other Loans |
Bank loans - 2-5 years |
Hire purchase contracts |
Other creditors | - | 167,261 |
11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2022 | 2021 |
£ | £ |
Amounts owed to members in respect of profits | 27,693 | 41,669 |
Falling due within one year | 27,693 | 41,669 |