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REGISTERED NUMBER: OC331495 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2023

for

CHANTERS BALTIC LLP

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


CHANTERS BALTIC LLP

General Information
for the Year Ended 31st March 2023







DESIGNATED MEMBERS: Timetoken Limited
Bee Fold Developments Limited





REGISTERED OFFICE: 41 St Thomas's Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: OC331495 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)

Report of the Members
for the Year Ended 31st March 2023

The members present their report with the financial statements of the LLP for the year ended 31st March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of land development.

DESIGNATED MEMBERS
The designated members during the year under review were:

Timetoken Limited
Bee Fold Developments Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £135,948 (2022 - £58,022 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Bee Fold Developments Limited - Designated member


7th October 2023

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)

Income Statement
for the Year Ended 31st March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER - -

Administrative expenses 7,222 1,955
OPERATING LOSS (7,222 ) (1,955 )


Interest payable and similar expenses 128,726 56,067
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(135,948




)




(58,022




)

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)

Balance Sheet
31st March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 5 1,937,359 1,937,359
Debtors 6 724,375 656,273
Cash at bank 11,454 11,399
2,673,188 2,605,031
CREDITORS
Amounts falling due within one year 7 2,435,084 2,298,953
NET CURRENT ASSETS 238,104 306,078
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

238,104

306,078

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

15,452

83,426

MEMBERS' OTHER INTERESTS
Capital accounts 222,652 222,652
238,104 306,078

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 15,452 83,426
Members' other interests 222,652 222,652
Amounts due from members 6 (721,261 ) (653,287 )
(483,157 ) (347,209 )

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 31st 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.

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)

Balance Sheet - continued
31st March 2023


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 7th October 2023 and were signed by:





Bee Fold Developments Limited - Designated member

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)

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

1. STATUTORY INFORMATION

Chanters Baltic 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Partnership agreement
In accordance with the LLP agreement, any profits from the sale of the property held within the partnership should be first used to clear the capital account of Bee Fold Developments Ltd, totalling £222,652 with the remainder being split between the members in their relevant proportions.

The members agreement sets out that all profit and losses, that are not dealt with under the above, are to be automatically allocated based on the profit share agreement or based on a unanimous decision of the designated members prior to the end of an accounting period. There are no fixed salary agreements in place.

The members agreement also sets out the following in relation to the capital and current accounts of the members:

Overdrawn current accounts that are a result of losses are reflected as 'amounts due from members' in current debtors. There is no interest charged on overdrawn current accounts.

There is not interest paid on capital accounts.

Members are not liable to contribute any further capital, unless the members unanimously determine or agree.

3. EMPLOYEE INFORMATION

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

4. INFORMATION IN RELATION TO MEMBERS

31.3.23 31.3.22

The average number of members during the year was 2 2

CHANTERS BALTIC LLP (REGISTERED NUMBER: OC331495)

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

5. STOCKS
31.3.23 31.3.22
£    £   
Stocks 1,937,359 1,937,359

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts due from members 721,261 653,287
Other debtors 3,114 2,986
724,375 656,273

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 2,359,058 2,280,332
Other creditors 75,350 18,021
Accrued expenses 676 600
2,435,084 2,298,953

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 15,452 83,426

Falling due within one year 15,452 83,426

Personal guarantees totalling £280,000 (2022: £280,000) have been provided by J Silcock and S Lancaster as bank loan security.

A further unlimited guarantee has been given by the member, Bee Fold Developments Limited in respect of bank loan security.

Amounts owed to members are unsecured and non-interest bearing.