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Company No: OC397376 (England and Wales)

THE TRUSTEES OF 22 HIGH EAST STREET LLP

Unaudited Financial Statements
For the financial year ended 05 April 2023
Pages for filing with the registrar

THE TRUSTEES OF 22 HIGH EAST STREET LLP

Unaudited Financial Statements

For the financial year ended 05 April 2023

Contents

THE TRUSTEES OF 22 HIGH EAST STREET LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 05 April 2023
THE TRUSTEES OF 22 HIGH EAST STREET LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 05 April 2023
DESIGNATED MEMBERS H M Duncalf
M W Kennett
REGISTERED OFFICE C/O Princecroft Willis Limited Towngate House
2-8 Parkstone Road
Poole
BH15 2PW
United Kingdom
REGISTERED NUMBER OC397376 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Towngate House
2-8 Parkstone Road
Poole
Dorset BH15 2PW
THE TRUSTEES OF 22 HIGH EAST STREET LLP

BALANCE SHEET

As at 05 April 2023
THE TRUSTEES OF 22 HIGH EAST STREET LLP

BALANCE SHEET (continued)

As at 05 April 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 288,000 288,000
288,000 288,000
Current assets
Debtors 4 287,517 260,439
Cash at bank and in hand 18,077 42,307
305,594 302,746
Creditors: amounts falling due within one year 5 ( 15,115) ( 12,267)
Net current assets 290,479 290,479
Total assets less current liabilities 578,479 578,479
Net assets attributable to members 578,479 578,479
Represented by
Members' other interests
Members' capital classified as equity 425,000 425,000
Revaluation reserve 153,479 153,479
578,479 578,479
578,479 578,479
Total members' interests
Amounts due from members (included in debtors) (287,433) (260,439)
Members' other interests 578,479 578,479
291,046 318,040

For the financial year ending 05 April 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of The Trustees of 22 High East Street LLP (registered number: OC397376) were approved and authorised for issue by the Board of Directors on 02 November 2023. They were signed on its behalf by:

M W Kennett
Designated member
THE TRUSTEES OF 22 HIGH EAST STREET LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2023
THE TRUSTEES OF 22 HIGH EAST STREET LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Trustees of 22 High East Street LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is C/O Princecroft Willis Limited Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty. Revenue comprises of rents receivable.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Investment property

Investment property
£
Valuation
As at 06 April 2022 288,000
As at 05 April 2023 288,000

The investment property was revalued by the designated members at the balance sheet date. In their opinion the market value of the property has remained unchanged.

4. Debtors

2023 2022
£ £
Trade debtors 84 0
Amounts owed by members 287,433 260,439
287,517 260,439

5. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 1,427 1,358
Other creditors 13,688 10,909
15,115 12,267

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the member' ability to reduce the amount of members' other interests.