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REGISTERED NUMBER: OC309174 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

J and B Haward LLP

J and B Haward LLP (Registered number: OC309174)

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










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J and B Haward LLP

General Information
for the year ended 31 March 2023







Designated members: J Haward
B Haward





Registered office: 1C Laurier Road
London
NW5 1SD





Registered number: OC309174 (England and Wales)





Accountants: Haines Watts South East LLP
Chartered Accountants
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

J and B Haward LLP (Registered number: OC309174)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investment property 4 3,000,000 3,000,000

Current assets
Debtors 5 8,881 5,925
Cash at bank 72,162 49,278
81,043 55,203
Creditors
Amounts falling due within one year 6 5,856 4,560
Net current assets 75,187 50,643
Total assets less current liabilities
and
Net assets attributable to members 3,075,187 3,050,643

Loans and other debts due to members 75,187 50,643

Members' other interests
Revaluation reserve 7 3,000,000 3,000,000
3,075,187 3,050,643

Total members' interests
Loans and other debts due to members 75,187 50,643
Members' other interests 3,000,000 3,000,000
3,075,187 3,050,643

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 31 March 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.

J and B Haward LLP (Registered number: OC309174)

Balance Sheet - continued
31 March 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 6 November 2023 and were signed by:





B Haward - Designated member

J and B Haward LLP (Registered number: OC309174)

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


1. Statutory information

J and B Haward 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 represents amounts receivable for rent receivable and is recognised based on the period of occupancy.

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.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the LLP becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the LLP will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the LLP's cash management.

Financial liabilities and equity instruments issued by the LLP are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities. Equity instruments issued by the LLP are recorded at the proceeds received, net of direct issue costs.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

J and B Haward LLP (Registered number: OC309174)

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


2. Accounting policies - continued

Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the members'
agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members'
remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are
classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are
presented as debtors and shown as amounts due from members within members' interests.

Where there exists an asset and liability component in respect of an individual member's participation rights,
they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised
amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in
which case they are presented net.

3. Employee information

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

4. Investment property
Total
£
Fair value
At 1 April 2022
and 31 March 2023 3,000,000
Net book value
At 31 March 2023 3,000,000
At 31 March 2022 3,000,000

The partners have arrived at the fair value of the property based on its current open market value as at 31st March 2023 and the partners believe the market value as at the yearend has no material changes compared to last year.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 2,956 -
Other debtors 5,925 5,925
8,881 5,925

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 120
Other creditors 5,856 4,440
5,856 4,560

J and B Haward LLP (Registered number: OC309174)

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


7. Reserves
Revaluation
reserve
£
At 1 April 2022
and 31 March 2023 3,000,000

Revaluation reserve relates to a revaluation of investment property. This balance is not distributable until the property is sold.