REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
TRIO ESTATES PARTNERSHIP LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
TRIO ESTATES PARTNERSHIP LLP |
TRIO ESTATES PARTNERSHIP LLP (REGISTERED NUMBER: OC398978) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 7 |
TRIO ESTATES PARTNERSHIP LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |
TRIO ESTATES PARTNERSHIP LLP (REGISTERED NUMBER: OC398978) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
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 | 3,475,329 | 2,684,280 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
3,444,416 |
2,653,367 |
MEMBERS' OTHER INTERESTS |
Fair value reserve | 8 |
3,475,329 | 2,684,280 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 3,444,416 | 2,653,367 |
Members' other interests | 30,913 | 30,913 |
3,475,329 | 2,684,280 |
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. |
TRIO ESTATES PARTNERSHIP LLP (REGISTERED NUMBER: OC398978) |
BALANCE SHEET - continued |
31ST 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 |
TRIO ESTATES PARTNERSHIP LLP (REGISTERED NUMBER: OC398978) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
Trio Estates Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortise cost using the effective interest method, less any impairment |
Impairment of financial assets |
Financial assets, other than those held at fair value are assessed for indicators or impairment at each reporting end date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfer the financial asset and substantially all the risks and rewards of ownership to another entity. |
Basic financial liabilities |
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest. |
Trade creditors are obligations to pay for goods or services that have been acquired int he ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method. |
Cash and cash equivalent |
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less. |
TRIO ESTATES PARTNERSHIP LLP (REGISTERED NUMBER: OC398978) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1st April 2022 |
Reclassification/transfer | ( |
) |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st April 2022 |
and 31st March 2023 |
TRIO ESTATES PARTNERSHIP LLP (REGISTERED NUMBER: OC398978) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
9. | RELATED PARTY DISCLOSURES |
I H Goldstein |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | 1,109,064 | 770,047 |
D Goldstein |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | 1,339,621 | 1,026,605 |
E Goldstein |
2023 | 2022 |
£ | £ |
Amount due to related party at the balance sheet date | 995,731 | 856,715 |
Trio Investment Partners Ltd |
2023 | 2022 |
£ | £ |
Amount due from related party at the balance sheet date | 1,712,768 | 905,340 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
TRIO ESTATES PARTNERSHIP LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Trio Estates Partnership LLP for the year ended 31st March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Trio Estates Partnership LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Trio Estates Partnership LLP and state those matters that we have agreed to state to the members of Trio Estates Partnership LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trio Estates Partnership LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Trio Estates Partnership LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Trio Estates Partnership LLP. You consider that Trio Estates Partnership LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Trio Estates Partnership LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |