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REGISTERED NUMBER: OC388454 (England and Wales)















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: R Farrow
Technical & Development Services Limited





REGISTERED OFFICE: West End House
60 Oxford Street
Wellingborough
Northamptonshire
NN8 4JJ





REGISTERED NUMBER: OC388454 (England and Wales)





ACCOUNTANTS: ISIS Business Solutions (Northants) LLP
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 4 362,149 361,229

CURRENT ASSETS
Debtors 5 2,455 2,012
Cash at bank 15,645 25,051
18,100 27,063
CREDITORS
Amounts falling due within one year 6 13,791 13,926
NET CURRENT ASSETS 4,309 13,137
TOTAL ASSETS LESS CURRENT LIABILITIES 366,458 374,366

CREDITORS
Amounts falling due after more than one
year

7

200,000

200,000
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 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 31st 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.

R N PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC388454)

BALANCE SHEET - continued
31ST 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 16th October 2023 and were signed by:




R Farrow - Designated member




Technical & Development Services Limited - Designated member


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
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 15% on reducing balance

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 360,000 1,261 361,261
Additions - 1,262 1,262
At 31st March 2023 360,000 2,523 362,523
DEPRECIATION
At 1st April 2022 - 32 32
Charge for year - 342 342
At 31st March 2023 - 374 374
NET BOOK VALUE
At 31st March 2023 360,000 2,149 362,149
At 31st March 2022 360,000 1,229 361,229

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 852 1,084
Other debtors 1,603 928
2,455 2,012

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,973 1,466
Other creditors 9,818 12,460
13,791 13,926

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.