IRIS Accounts Production v23.3.0.418 OC399714 designated member 1.4.22 31.3.23 31.3.23 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3997142022-03-31OC3997142023-03-31OC3997142022-04-012023-03-31OC3997142021-03-31OC3997142021-04-012022-03-31OC3997142022-03-31OC399714ns10:Originalns15:EnglandWales2022-04-012023-03-31OC399714ns14:PoundSterlingns10:Original2022-04-012023-03-31OC399714ns10:Originalns10:Director12022-04-012023-03-31OC399714ns10:Original2022-04-012023-03-31OC399714ns10:Original2023-03-31OC399714ns10:Originalns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC399714ns10:Originalns10:SmallEntities2022-04-012023-03-31OC399714ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC399714ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31OC399714ns10:LimitedLiabilityPartnershipsSORPns10:Original2022-04-012023-03-31OC399714ns10:Originalns10:FullAccounts2022-04-012023-03-31OC399714ns10:Original2021-04-012022-03-31OC399714ns10:Originalns10:RegisteredOffice2022-04-012023-03-31OC399714ns10:Original2022-03-31OC399714ns10:Originalns5:CurrentFinancialInstruments2023-03-31OC399714ns10:Originalns5:CurrentFinancialInstruments2022-03-31OC399714ns10:Originalns5:Non-currentFinancialInstruments2023-03-31OC399714ns10:Originalns5:Non-currentFinancialInstruments2022-03-31OC399714ns10:Originalns5:PlantMachinery2022-04-012023-03-31OC399714ns10:Originalns5:PlantMachinery2022-03-31OC399714ns10:Originalns5:PlantMachinery2023-03-31OC399714ns10:Originalns5:PlantMachinery2022-03-31OC399714ns10:Original2022-03-31OC399714ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-31OC399714ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-31OC399714ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31OC399714ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-03-31OC399714ns5:Securedns10:Original2023-03-31OC399714ns5:Securedns10:Original2022-03-31
REGISTERED NUMBER: OC399714 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Vinyl Partners LLP

Vinyl Partners LLP (Registered number: OC399714)






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


Vinyl Partners LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: C M Makin
M D Makin





REGISTERED OFFICE: Stephanie Works
Chinley
High Peak
SK23 6BT





REGISTERED NUMBER: OC399714 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
Level 7, Tower 12,
18-22 Bridge Street,
Spinningfields,
Manchester
M3 3BZ

Vinyl Partners LLP (Registered number: OC399714)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,801
Investment property 5 5,164,205 4,679,755
5,164,205 4,682,556

CURRENT ASSETS
Debtors 6 227,057 98,000
Cash at bank 83,242 119,077
310,299 217,077
CREDITORS
Amounts falling due within one year 7 570,297 708,501
NET CURRENT LIABILITIES (259,998 ) (491,424 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,904,207

4,191,132

CREDITORS
Amounts falling due after more than one
year

8

3,803,189

3,943,467
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,101,018

247,665

Vinyl Partners LLP (Registered number: OC399714)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

926,173

72,820

MEMBERS' OTHER INTERESTS
Capital accounts 174,845 174,845
1,101,018 247,665

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 926,173 72,820
Members' other interests 174,845 174,845
1,101,018 247,665

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.

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 14 November 2023 and were signed by:





C M Makin - Designated member

Vinyl Partners LLP (Registered number: OC399714)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Vinyl Partners 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

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.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 19,133
DEPRECIATION
At 1 April 2022 16,332
Charge for year 2,801
At 31 March 2023 19,133
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 2,801

Vinyl Partners LLP (Registered number: OC399714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 4,679,755
Additions 484,450
At 31 March 2023 5,164,205
NET BOOK VALUE
At 31 March 2023 5,164,205
At 31 March 2022 4,679,755

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 227,057 98,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 164,712 164,712
Trade creditors 12,228 90,438
Social security and other taxes 1,816 1,982
VAT 50,573 54,464
Other creditors 157 -
Accruals and deferred income 340,811 396,905
570,297 708,501

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 608,763 608,763
Bank loans more 5 yr by instal 494,426 634,704
Other creditors 2,700,000 2,700,000
3,803,189 3,943,467

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 494,426 634,704

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 1,267,901 1,408,179

Vinyl Partners LLP (Registered number: OC399714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members only take drawings where cash is available and other creditors are not adversely affected.

11. RELATED PARTY DISCLOSURES

At 31 March 2023 an amount totalling £2,700,000 (2022: £2,700,000) was owed to related parties of the members, Mr C Makin and Mr M Makin.
The amounts are subject to interest of 8% per annum and are repayable within one year subject to 6 months notice provided by the lender. The facility is reviewed every 12 months to renew the loans on an annual rolling basis.
At the balance sheet date no such notice had been received and therefore the loans are deemed repayable after one year.

12. ULTIMATE CONTROLLING PARTY

The LLP is controlled by the members.