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REGISTERED NUMBER: OC427141 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Fleet Suites LLP

Fleet Suites LLP (Registered number: OC427141)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fleet Suites LLP

General Information
for the Year Ended 30 April 2023







DESIGNATED MEMBERS: York Row (Holdings) Ltd
T J Binnington
Helvellyn Properties Limited
M M Trice
L A Trice





REGISTERED OFFICE: The Old Rectory
Duncton
Petworth
West Sussex
GU28 0JZ





REGISTERED NUMBER: OC427141 (England and Wales)





ACCOUNTANTS: Maximus Accountancy Services Limited
47 Kensington Road
Chichester
West Sussex
PO19 7XS

Fleet Suites LLP (Registered number: OC427141)

Balance Sheet
30 April 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 639 -
Investment property 5 900,000 851,959
900,639 851,959

CURRENT ASSETS
Debtors 6 12,286 3,872
Cash at bank 44,495 70,095
56,781 73,967
CREDITORS
Amounts falling due within one year 7 27,778 19,748
NET CURRENT ASSETS 29,003 54,219
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

929,642

906,178

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

729,642

706,178

MEMBERS' OTHER INTERESTS
Capital accounts 200,000 200,000
929,642 906,178

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 729,642 706,178
Members' other interests 200,000 200,000
929,642 906,178

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 April 2023.

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.

Fleet Suites LLP (Registered number: OC427141)

Balance Sheet - continued
30 April 2023


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

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 31 October 2023 and were signed by:





M M Trice - Designated member

Fleet Suites LLP (Registered number: OC427141)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Fleet Suites 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 742
At 30 April 2023 742
DEPRECIATION
Charge for year 103
At 30 April 2023 103
NET BOOK VALUE
At 30 April 2023 639

Fleet Suites LLP (Registered number: OC427141)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 851,959
Additions 16,606
Revaluations 31,435
At 30 April 2023 900,000
NET BOOK VALUE
At 30 April 2023 900,000
At 30 April 2022 851,959

The investment property is carried at its estimated fair value based on a professional valuation obtained by the members.

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2023 900,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,626 3,715
Other debtors 5,660 157
12,286 3,872

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,049 682
Taxation and social security 4,336 -
Other creditors 19,393 19,066
27,778 19,748

8. 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.

Loans and other debts due to members include interest free loans totalling £608,500 (2022: £608,500) which are repayable on demand from 5 August 2024, being 5 years after the date of the loan agreement.

The remaining balance of loans and other debts due to members of £121,142 (2022: £97,678) consists of £77,545 (2022: £54,081) in respect of undrawn profits and £43,597 (2022: £43,597) of capital introduced. Undrawn profits for the current year includes £31,435 of unrealised gains on revaluing the investment property to its fair value.