REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
ALGAN PROPERTY LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
FOR |
ALGAN PROPERTY LLP |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
ALGAN PROPERTY LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants and Tax Advisers |
8 Twisleton Court |
Priory Hill |
Dartford |
Kent |
DA1 2EN |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 30 APRIL 2023 |
The members present their report with the financial statements of the LLP for the year ended 30 April 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property investment |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £44,195 (2022 - £119,797 profit). |
MEMBERS' INTERESTS |
Each members subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP. |
ON BEHALF OF THE MEMBERS: |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 APRIL 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
(11,288 | ) | 70,635 |
Other operating income |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
44,195 |
119,797 |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
44,195 |
119,797 |
Members' remuneration charged as an expense |
5 |
(44,195 |
) |
(119,797 |
) |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
BALANCE SHEET |
30 APRIL 2023 |
30.4.23 | 30.4.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
Investments | 7 |
Investment property | 8 |
CURRENT ASSETS |
Debtors | 9 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
849,046 |
1,050,037 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
11 |
536,846 |
737,837 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 312,200 | 312,200 |
849,046 | 1,050,037 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 11 | 536,846 | 737,837 |
Members' other interests | 312,200 | 312,200 |
849,046 | 1,050,037 |
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. |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
BALANCE SHEET - continued |
30 APRIL 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
Algan Property 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 |
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. | OPERATING PROFIT |
The operating profit is stated after charging: |
30.4.23 | 30.4.22 |
£ | £ |
Depreciation - owned assets |
5. | INFORMATION IN RELATION TO MEMBERS |
30.4.23 | 30.4.22 |
£ | £ |
Members' remuneration charged as an expense |
Partners' salaries | 44,195 | 119,797 |
6. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
7. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
8. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Trade debtors |
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.23 | 30.4.22 |
£ | £ |
Other creditors |
11. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of winding up. |
12. | RELATED PARTY DISCLOSURES |
As at 30April 2023 the amount owed by Sealtite Windows Limited, a company in which the designated members are directors, was £8,010 (2022: £8,010). |