Registered number
OC422411
ADEM MELISA LLP
Filleted Accounts
31 May 2023
ADEM MELISA LLP
Registered number: OC422411
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,408,417 1,408,417
Current assets
Debtors 4 (28,139) (43,500)
Cash at bank and in hand 153,341 230,343
125,202 186,843
Creditors: amounts falling due within one year 5 (9,386) (9,239)
Net current assets 115,816 177,604
Total assets less current liabilities 1,524,233 1,586,021
Creditors: amounts falling due after more than one year 6 (1,446,404) (1,556,696)
Net assets attributable to members 77,829 29,325
Represented by:
Loans and other debts due to members 7 (3,555) -
Members' other interests
Other reserves 81,384 29,325
77,829 29,325
Total members' interests
Loans and other debts due to members 7 (3,555) -
Members' other interests 81,384 29,325
77,829 29,325
For the year ended 31 May 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 24 October 2023 and signed on their behalf by:
Ms Ozlem Gunay
Designated member
ADEM MELISA LLP
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2022 1,408,417
At 31 May 2023 1,408,417
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 1,408,417
At 31 May 2022 1,408,417
4 Debtors 2023 2022
£ £
Trade debtors (50,750) (38,750)
Other debtors 22,611 (4,750)
(28,139) (43,500)
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,205 5,008
Other taxes and social security costs 1,081 581
Other creditors 3,100 3,650
9,386 9,239
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 1,136,848 1,160,310
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest 199,556 396,386
Other creditors 110,000 -
1,446,404 1,556,696
7 Loans and other debts due to members 2023 2022
£ £
Amounts due to members in respect of profits (3,555) -
Amounts falling due within one year (3,555) -
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
ADEM MELISA LLP is a limited liability partnership incorporated in England. Its registered office is:
55 Rosebery Gardens
London
N8 8SH
ADEM MELISA LLP OC422411 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts April 2022 Ms Ozlem Gunay No description of principal activity OC422411 2021-06-01 2022-05-31 OC422411 core:WithinOneYear 2022-05-31 OC422411 core:AfterOneYear 2022-05-31 OC422411 1 2022-05-31 OC422411 core:RetainedEarningsAccumulatedLosses 2022-05-31 OC422411 2022-06-01 2023-05-31 OC422411 bus:LimitedLiabilityPartnershipLLP 2022-06-01 2023-05-31 OC422411 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 OC422411 bus:PartnerLLP20 2022-06-01 2023-05-31 OC422411 1 2022-06-01 2023-05-31 OC422411 2 2022-06-01 2023-05-31 OC422411 4 2022-06-01 2023-05-31 OC422411 countries:England 2022-06-01 2023-05-31 OC422411 bus:FRS102 2022-06-01 2023-05-31 OC422411 bus:FullAccounts 2022-06-01 2023-05-31 OC422411 2023-05-31 OC422411 core:WithinOneYear 2023-05-31 OC422411 core:AfterOneYear 2023-05-31 OC422411 1 2023-05-31 OC422411 core:RetainedEarningsAccumulatedLosses 2023-05-31 OC422411 core:LandBuildings 2023-05-31 OC422411 2022-05-31 OC422411 core:LandBuildings 2022-05-31 iso4217:GBP xbrli:pure