REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 March 2023 |
for |
Savoys Capital LLP |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 March 2023 |
for |
Savoys Capital LLP |
Savoys Capital LLP (Registered number: OC420553) |
Contents of the Financial Statements |
for the Year Ended 30 March 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Savoys Capital LLP |
General Information |
for the Year Ended 30 March 2023 |
DESIGNATED MEMBERS: | S Kumar |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Wynyard Business Park |
Wynyard Avenue |
Billingham |
Cleveland |
TS22 5TB |
Savoys Capital LLP (Registered number: OC420553) |
Balance Sheet |
30 March 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
106,780 |
72,227 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
106,780 |
72,227 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 106,780 | 72,227 |
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. |
Savoys Capital LLP (Registered number: OC420553) |
Balance Sheet - continued |
30 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 |
Savoys Capital LLP (Registered number: OC420553) |
Notes to the Financial Statements |
for the Year Ended 30 March 2023 |
1. | STATUTORY INFORMATION |
Savoys Capital 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 |
TURNOVER |
Turnover 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 |
Fixtures and fittings - 25% on reducing balance |
INVESTMENT PROPERTY |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 31 March 2022 |
and 30 March 2023 |
DEPRECIATION |
At 31 March 2022 |
Charge for year |
At 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
Savoys Capital LLP (Registered number: OC420553) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 March 2022 |
Additions |
At 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
Fair value at 30 March 2023 is represented by: |
£ |
Valuation in 2019 | 900,000 |
Valuation in 2022 | 433,278 |
Cost | 361,657 |
1,694,935 |
Property valuations are based upon independent reports provided by professional institutions and reflect the market value. |
Where such valuations were unavailable reliance has been placed upon online market information that reflects the fair value and is independent of management. Further to this, management has also provided valuations based upon the developments and activities of the property within the context of the current economic climate. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Loans |
Other creditors | 327,944 | 327,944 |
Other creditors |
Accrued expenses |
Savoys Capital LLP (Registered number: OC420553) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
BBL more than 1 year |
Mortgage loan | 1,038,694 | - |
Other loans - 2-5 years | - | 120,019 |
Other loans more 5yrs instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | - | 601,975 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Loans |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans due to other members rank ahead of other debts in the event of a liquidation. |
11. | RELATED PARTY DISCLOSURES |
Included within other creditors is £57,962 (2022: £57,962) due to M & S Capital LLP, a partnership controlled by the designated members. |