Amba Investments LLP Filleted Accounts Cover |
Registered No. OC334281 | |||||||||
Amba Investments LLP Balance Sheet Registrar |
at | ||||||||||
Registered No. | Notes | 2023 | 2022 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Investment property | 4 | 3,490,318 | 3,168,428 | |||||||
3,490,318 | 3,168,428 | |||||||||
Current assets | ||||||||||
Debtors | 5 | 226,859 | 167,673 | |||||||
Cash at bank and in hand | 9,906 | 127,247 | ||||||||
236,765 | 294,920 | |||||||||
Creditors: Amounts falling due within one year | 6 | (441,884) | (616,830) | |||||||
Net current liabilities | (205,119) | (321,910) | ||||||||
Total assets less current liabilities | 3,285,199 | 2,846,518 | ||||||||
Net assets attributable to members | 3,285,199 | 2,846,518 | ||||||||
Represented by: | ||||||||||
Members' other interests | ||||||||||
Members' capital | 3,164,557 | 2,769,532 | ||||||||
Other reserves | 120,642 | 76,986 | ||||||||
3,285,199 | 2,846,518 | |||||||||
3,285,199 | 2,846,518 | |||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the members on 16 November 2023 and signed on its behalf by: | ||||||||||
R. Soni | ||||||||||
Designated member | ||||||||||
16 November 2023 |
Amba Investments LLP Notes to the Accounts Registrar |
for the year ended 31 March 2023 | ||||||||||||||||
1 | General information | |||||||||||||||
Amba Investments LLP is a limited liability partnership and incorporated in England and Wales. | ||||||||||||||||
Its registered number is: OC334281 | ||||||||||||||||
Its registered office is: | ||||||||||||||||
2 | Accounting policies |
Turnover | ||||||||||||||||
Income represents rental income from investment property. Income is recognised on an accrual basis and in accordance with the lease agreement. | ||||||||||||||||
Members' remuneration and division of profits | ||||||||||||||||
Member's participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits). In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense. The payments are decided by the designated members after taking into account the working capital requirements of the business. Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'. | ||||||||||||||||
Freehold investment property | ||||||||||||||||
No depreciation is provided in respect of investment properties. | ||||||||||||||||
Trade and other debtors | ||||||||||||||||
Trade and other creditors | ||||||||||||||||
Provisions | ||||||||||||||||
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet. | ||||||||||||||||
Members' Interests | ||||||||||||||||
Members' interests are classified as either equity or debt. Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves. Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members. | ||||||||||||||||
Leased assets | ||||||||||||||||
Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above). Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. | ||||||||||||||||
Taxation | ||||||||||||||||
3 | Employees | |||||||||||||||
2023 | 2022 | |||||||||||||||
Number | Number | |||||||||||||||
The average number of persons employed during the year was: | ||||||||||||||||
4 | Investment property | |||||||||||||||
Freehold Investment Property | ||||||||||||||||
£ | ||||||||||||||||
Valuation | ||||||||||||||||
At 1 April 2022 | ||||||||||||||||
Additions | ||||||||||||||||
At 31 March 2023 | ||||||||||||||||
5 | Debtors | |||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Trade debtors | ||||||||||||||||
VAT recoverable | ||||||||||||||||
Other debtors | ||||||||||||||||
6 | Creditors: | |||||||||||||||
amounts falling due within one year | ||||||||||||||||
2023 | 2022 | |||||||||||||||
£ | £ | |||||||||||||||
Bank loans and overdrafts | ||||||||||||||||
Other loans | ||||||||||||||||
Trade creditors | ||||||||||||||||
Other taxes and social security | ||||||||||||||||
Accruals and deferred income | ||||||||||||||||
Loans and other debts to members are ranked equally with debts due to ordinary creditors in a winding up. | ||||||||||||||||
7 | Related party disclosures | |||||||||||||||
Transactions with related parties | ||||||||||||||||