REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
J and B Haward LLP |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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 |
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 | 3,075,187 | 3,050,643 |
Loans and other debts due to members | 75,187 | 50,643 |
Members' other interests |
Revaluation reserve | 7 |
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 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 |
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 |
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 |
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 |
4. | Investment property |
Total |
£ |
Fair value |
At 1 April 2022 |
and 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 |
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 |
Other debtors |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
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 |
Revaluation reserve relates to a revaluation of investment property. This balance is not distributable until the property is sold. |