REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
R N PROPERTY PARTNERSHIP LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 |
FOR |
R N PROPERTY PARTNERSHIP LLP |
R N PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC388454) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
R N PROPERTY PARTNERSHIP LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Venture Court |
2 Debdale Road |
Wellingborough |
Northamptonshire |
NN8 5AA |
R N PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC388454) |
BALANCE SHEET |
31ST MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 166,458 | 174,366 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
166,458 |
174,366 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 166,458 | 174,366 |
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. |
R N PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC388454) |
BALANCE SHEET - continued |
31ST 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 |
R N PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC388454) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2023 |
1. | STATUTORY INFORMATION |
R N Property Partnership 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 |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st April 2022 |
Additions |
At 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
Cost or valuation at 31st March 2023 is represented by: |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
Valuation in 2022 | 56,615 | - | 56,615 |
Cost | 303,385 | 2,523 | 305,908 |
360,000 | 2,523 | 362,523 |
R N PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC388454) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2023 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to associates | 200,000 | 200,000 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
All unsecured creditors rank pari-passu with member's loans. |
9. | RELATED PARTY DISCLOSURES |
During the year the Partnership entered into transactions with related parties. All transactions were carried out at arm's length. |
The Partnership received £3,350 in rent from TDS Holdings Ltd and £3,350 from TDS Limited. |
The Partnership paid management fees of £5,000 to TDS Limited, interest of £6,000 to TDS Consulting Ltd and interest of £3,360 to Mr & Mrs R Farrow. |
The Partnership borrowed £200,000 from TDS Consulting Ltd. The Loan is currently interest only charged at 3% per annum but the terms of the loan are to be reviewed every 2 years. On the 28th April 2022, a charge was registered over the Partnership as security. |
At the balance sheet date, the Partnership owed TDS Consulting Ltd £200,000. |
In 2022, the Partnership borrowed £80,000 from Mr & Mrs R Farrow. At the balance sheet date, the Partnership owed £121,978 to Mr & Mrs R Farrow and £44,480 to TDS Ltd. This is by reference to the capital account balances. |