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Financial Statements

for the Year Ended 31 March 2023

for

Shepherd Family Partnership LLP

Shepherd Family Partnership LLP (Registered number: OC418473)






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


Shepherd Family Partnership LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: I Shepherd
S Shepherd
Shepherd Family Holdings Ltd





REGISTERED OFFICE: 18 State Farm Avenue
Orpington
BR6 7TN





REGISTERED NUMBER: OC418473 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Shepherd Family Partnership LLP (Registered number: OC418473)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,295,000 1,236,107

CURRENT ASSETS
Debtors 5 15 15
Cash at bank 1,568 11,070
1,583 11,085
CREDITORS
Amounts falling due within one year 6 (4,392 ) (5,664 )
NET CURRENT (LIABILITIES)/ASSETS (2,809 ) 5,421
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,292,191

1,241,528

CREDITORS
Amounts falling due after more than one
year

7

(406,318

)

(578,451

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

885,873

663,077

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

885,873

663,077

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 885,873 663,077

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.

Shepherd Family Partnership LLP (Registered number: OC418473)

Balance Sheet - continued
31 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 6 November 2023 and were signed by:





I Shepherd - Designated member

Shepherd Family Partnership LLP (Registered number: OC418473)

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

1. STATUTORY INFORMATION

Shepherd Family 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.

These accounts replace the original accounts and are now the statutory accounts and are prepared of the same date of the original accounts.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,236,107
Revaluations 58,893
At 31 March 2023 1,295,000
NET BOOK VALUE
At 31 March 2023 1,295,000
At 31 March 2022 1,236,107

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 58,893
Cost 1,236,107
1,295,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments 15 15

Shepherd Family Partnership LLP (Registered number: OC418473)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 1,515 515
Accrued expenses 2,877 5,149
4,392 5,664

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgages 406,318 578,451

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 406,318 578,451

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.