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REGISTERED NUMBER: OC415073 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

UNIVERSAL HOUSE WENTWORTH STREET LLP

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)






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


UNIVERSAL HOUSE WENTWORTH STREET LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: G Mandhra
Mrs M Mandhra





REGISTERED OFFICE: Universal House
88-94 Wentworth Street
London
E1 7SA





REGISTERED NUMBER: OC415073 (England and Wales)





ACCOUNTANTS: Y P Associates
Chartered Certified Accountants
6 The Fairway
Wembley
Middlesex
HA0 3LH

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 889 509
Investment property 5 21,300,000 21,300,000
21,300,889 21,300,509

CURRENT ASSETS
Debtors 6 5,000 5,000
Cash at bank 177,856 317,403
182,856 322,403
CREDITORS
Amounts falling due within one year 7 170,514 401,638
NET CURRENT ASSETS/(LIABILITIES) 12,342 (79,235 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,313,231

21,221,274

CREDITORS
Amounts falling due after more than one
year

8

941,701

1,010,231
NET ASSETS ATTRIBUTABLE TO
MEMBERS

20,371,530

20,211,043

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

1,144,115

983,628

MEMBERS' OTHER INTERESTS
Capital accounts 19,227,415 19,227,415
20,371,530 20,211,043

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 1,144,115 983,628
Members' other interests 19,227,415 19,227,415
20,371,530 20,211,043

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 4 October 2023 and were signed by:



G Mandhra - Designated member

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

UNIVERSAL HOUSE WENTWORTH STREET LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents invoiced rent receivable net of value added tax..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Members' participating interests

Members' participation rights in the earnings or assets of the LLP are analysed between those that are , from the LLP's perfective,either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights include amounts subscribed or otherwise contributed by members, for example members' capital , are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within ' Loans and other debts due to members' and where such an amount relates to current year profits, they are recognised within ' Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within ' Members other interests'. Amounts recoverable from members are presented as debtor and shown as amounts due from members within members' interest.

Once an unavoidable obligation has need created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ' Loans and other debt due to members' to the extent they exceed debts due from a specific member.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 3 ) .

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 849
Additions 949
Disposals (849 )
At 31 March 2023 949
DEPRECIATION
At 1 April 2022 340
Charge for year 60
Eliminated on disposal (340 )
At 31 March 2023 60
NET BOOK VALUE
At 31 March 2023 889
At 31 March 2022 509

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 21,300,000
NET BOOK VALUE
At 31 March 2023 21,300,000
At 31 March 2022 21,300,000

The investment property was professional valued by Copping Joyce , Chartered Surveyors during 2019 and in the opinion of members the value is similar at the year ended. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,000 5,000

UNIVERSAL HOUSE WENTWORTH STREET LLP (Registered number: OC415073)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (122,955 ) 149,742
Trade creditors 12,999 1,260
Taxation and social security 1,496 1,522
Other creditors 278,974 249,114
170,514 401,638

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 941,701 1,010,231

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 251,701 380,231

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 818,746 1,155,231

The bank loan is secured by a first legal charge over the investment property.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

in the event of winding up the amounts included in '' Loans and other debts due to members'' will rank equally with unsecured creditors.