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REGISTERED NUMBER: OC441146 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Sunny QP Property LLP

Sunny QP Property LLP (Registered number: OC441146)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sunny QP Property LLP

General Information
for the Year Ended 28 February 2023







DESIGNATED MEMBERS: Q Pan
UK QP Property Ltd.





REGISTERED OFFICE: Oaklea House
46 Coatham Road
Redcar
TS1 3AA





REGISTERED NUMBER: OC441146 (England and Wales)





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

Sunny QP Property LLP (Registered number: OC441146)

Balance Sheet
28 February 2023

Notes £   
FIXED ASSETS
Tangible assets 4 37,970
Investment property 5 1,363,120
1,401,090

CURRENT ASSETS
Cash at bank 9,513

CREDITORS
Amounts falling due within one year 6 (23,538 )
NET CURRENT LIABILITIES (14,025 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,387,065

CREDITORS
Amounts falling due after more than one year 7 (860,735 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

526,330

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

526,330

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 526,330

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 28 February 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.

Sunny QP Property LLP (Registered number: OC441146)

Balance Sheet - continued
28 February 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 21 November 2023 and were signed by:





Q Pan - Designated member

Sunny QP Property LLP (Registered number: OC441146)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Sunny QP Property 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.

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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL.

4. TANGIBLE FIXED ASSETS
Improvement
to
property
£   
COST
Additions 37,970
At 28 February 2023 37,970
NET BOOK VALUE
At 28 February 2023 37,970

Sunny QP Property LLP (Registered number: OC441146)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,310,240
Revaluations 52,880
At 28 February 2023 1,363,120
NET BOOK VALUE
At 28 February 2023 1,363,120

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2023 52,880
Cost 1,310,240
1,363,120

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other loans (see note 8) 18,000
Deposits 4,025
Accrued expenses 1,513
23,538

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Other loans (see note 8) 860,735

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage - more than 5yrs 860,735

8. LOANS

An analysis of the maturity of loans is given below:

£   
Amounts falling due within one year or on demand:
Other loans 18,000

Sunny QP Property LLP (Registered number: OC441146)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. LOANS - continued
£   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgage - more than 5yrs 860,735

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Mortgage - more than 5yrs 860,735

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
£   
Amounts owed to members in respect of profits 526,330

Falling due within one year 526,330

Members rank ahead of other creditors in a liquidation.

11. RELATED PARTY DISCLOSURES

The LLP has received a loan of £18,000 from EA Spring Ltd, a company in which director Q Pan shares common interest. No interest is charged in this year and the loan is repayable on demand.