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REGISTERED NUMBER: OC304186 (England and Wales)

















Report of the Members and

Financial Statements

for the Year Ended 31 March 2023

for

The Supportive Housing LLP

The Supportive Housing LLP (Registered number: OC304186)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

General Information 1

Report of the Members 2

Report of the Independent Auditors 4

Income Statement 8

Statement of Financial Position 9

Reconciliation of Members' Interests 11

Notes to the Financial Statements 15


The Supportive Housing LLP

General Information
for the year ended 31 March 2023







DESIGNATED MEMBERS: E S Dugdale
Solid Investments Limited
J H Hoffman


REGISTERED OFFICE: 2nd Floor Regis House
45 King William Street
London
EC4R 9AN


REGISTERED NUMBER: OC304186 (England and Wales)


AUDITORS: Caerwyn Jones
Chartered Accountants and Statutory Auditor
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG


BANKERS: Bank of Scotland
St James' Gate
14-16 Cockspur Street
London
SW1Y 5BL

The Supportive Housing LLP (Registered number: OC304186)

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 specialised property trading and investment.

DESIGNATED MEMBERS
The designated members during the year under review were:

E S Dugdale
Solid Investments Limited
J H Hoffman

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £1,033,232 (2022 - £1,124,218 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Supportive Housing LLP (Registered number: OC304186)

Report of the Members
for the year ended 31 March 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he or she ought to have taken as a member in order to make himself or herself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information.

AUDITORS
The auditors, Caerwyn Jones, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE MEMBERS:





E S Dugdale - Designated member


20 October 2023

Report of the Independent Auditors to the Members of
The Supportive Housing LLP

Opinion
We have audited the financial statements of The Supportive Housing LLP (the 'LLP') for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Reconciliation of Members' Interests and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the LLP's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance 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.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the LLP in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the LLP's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the members with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
The Supportive Housing LLP


Other information
The members are responsible for the other information. The other information comprises the information in the Report of the Members, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 as applied to LLPs requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit; or
- the members were not entitled to prepare the financial statements in accordance with the small LLPs regime.

Responsibilities of members
As explained more fully in the Statement of Members' Responsibilities set out on page two, the members are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the members determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the members are responsible for assessing the LLP's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the members either intend to liquidate the LLP or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
The Supportive Housing LLP


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities, and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussion with directors and other senior management, and from our commercial knowledge and experience of the recruitment sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection and employment;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.


Report of the Independent Auditors to the Members of
The Supportive Housing LLP

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the LLP's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. Our audit work has been undertaken so that we might state to the LLP's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and the LLP's members as a body, for our audit work, for this report, or for the opinions we have formed.




D Blofield BSC FCA (Senior Statutory Auditor)
for and on behalf of Caerwyn Jones
Chartered Accountants and Statutory Auditor
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

20 October 2023

The Supportive Housing LLP (Registered number: OC304186)

Income Statement
for the year ended 31 March 2023

2023 2022
Notes £    £   

REVENUE 1,473,855 1,401,730

Administrative expenses 110,256 79,092
OPERATING PROFIT 1,363,599 1,322,638

Interest receivable and similar income 192 12
1,363,791 1,322,650

Interest payable and similar expenses 330,559 198,432
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


1,033,232


1,124,218

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES


1,033,232


1,124,218

Members' remuneration charged as an
expense

4

(163,111

)

(163,111

)
PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


870,121


961,107

The Supportive Housing LLP (Registered number: OC304186)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 10,482,245 10,482,245

CURRENT ASSETS
Cash at bank 62,830 53,351

CREDITORS
Amounts falling due within one year 6 6,234,821 401,369
NET CURRENT LIABILITIES (6,171,991 ) (348,018 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,310,254

10,134,227

CREDITORS
Amounts falling due after more than
one year

7

375,000

6,371,093
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,935,254

3,763,134

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,834,256

1,662,136

MEMBERS' OTHER INTERESTS
Capital accounts 2,100,998 2,100,998
3,935,254 3,763,134

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,834,256 1,662,136
Members' other interests 2,100,998 2,100,998
3,935,254 3,763,134

The Supportive Housing LLP (Registered number: OC304186)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 20 October 2023 and were signed by:




E S Dugdale - Designated member




V U Haq - Designated member


The Supportive Housing LLP (Registered number: OC304186)

Reconciliation of Members' Interests
for the year ended 31 March 2023


EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 April 2022 2,100,998 - 2,100,998
Members' remuneration charged as an
expense, including employment and
retirement benefit costs


-


-


-
Profit for the financial year available for
discretionary division among members

-

870,121

870,121
Members' interests after profit for the year 2,100,998 870,121 2,971,119
Other divisions of profit - (870,121 ) (870,121 )
Drawings on account and distributions of
profit

-

-

-

Balance at 31 March 2023 2,100,998 - 2,100,998


The Supportive Housing LLP (Registered number: OC304186)

Reconciliation of Members' Interests
for the year ended 31 March 2023

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 1,662,136
Amount due from members -
Balance at 1 April 2022 1,662,136 3,763,134
Members' remuneration charged as an
expense, including employment and
retirement benefit costs


163,111


163,111


Profit for the financial year available for
discretionary division among members

-

870,121

Members' interests after profit for the year 1,825,247 4,796,366
Other divisions of profit 870,121 -
Drawings on account and distributions of
profit

(861,112

)

(861,112

)

Amount due to members 1,834,256
Amount due from members -
Balance at 31 March 2023 1,834,256 3,935,254

The Supportive Housing LLP (Registered number: OC304186)

Reconciliation of Members' Interests
for the year ended 31 March 2023

EQUITY
Members' other interests
Members'
capital
(classified
as Other
equity) reserves Total
£    £    £   
Balance at 1 April 2021 2,100,998 - 2,100,998
Members' remuneration charged as an
expense, including employment and
retirement benefit costs


-


-


-
Profit for the financial year available for
discretionary division among members

-

961,107

961,107
Members' interests after profit for the year 2,100,998 961,107 3,062,105
Other divisions of profit - (961,107 ) (961,107 )
Drawings on account and distributions of
profit

-

-

-

Balance at 31 March 2022 2,100,998 - 2,100,998


The Supportive Housing LLP (Registered number: OC304186)

Reconciliation of Members' Interests
for the year ended 31 March 2023

DEBT TOTAL
Loans and other debts due to MEMBERS'
members less any amounts due INTERESTS
from members in debtors
Other
amounts Total
£    £   
Amount due to members 1,410,029
Amount due from members -
Balance at 1 April 2021 1,410,029 3,511,027
Members' remuneration charged as an
expense, including employment and
retirement benefit costs


163,111


163,111


Profit for the financial year available for
discretionary division among members

-

961,107

Members' interests after profit for the year 1,573,140 4,635,245
Other divisions of profit 961,107 -
Drawings on account and distributions of
profit

(872,111

)

(872,111

)

Amount due to members 1,662,136
Amount due from members -
Balance at 31 March 2022 1,662,136 3,763,134

The Supportive Housing LLP (Registered number: OC304186)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

1. STATUTORY INFORMATION

The Supportive Housing 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
All fixed assets are stated at cost less provision for any permanent diminution in value.

Financial instruments
The LLP has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

4. INFORMATION IN RELATION TO MEMBERS
2023 2022
£    £   
Members' remuneration charged as an expense
Other payments 163,111 163,111

The Supportive Housing LLP (Registered number: OC304186)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. PROPERTY, PLANT AND EQUIPMENT
Land and
buildings
£   
COST
At 1 April 2022
and 31 March 2023 10,482,245
NET BOOK VALUE
At 31 March 2023 10,482,245
At 31 March 2022 10,482,245

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,997,271 263,615
Other creditors 237,550 137,754
6,234,821 401,369

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 375,000 6,371,093

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 375,000 6,283,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 6,372,271 6,634,708

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.