REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Aspire Investments LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Aspire Investments LLP |
Aspire Investments LLP (Registered number: OC379886) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Profit and Loss Account | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
Aspire Investments LLP |
General Information |
for the Year Ended 31 March 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ebenezer House |
Ryecroft |
Newcastle under Lyme |
Staffordshire |
ST5 2BE |
Aspire Investments LLP (Registered number: OC379886) |
Report of the Members |
for the Year Ended 31 March 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property investment. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £12,174 (2022 - £94,568 loss). |
MEMBERS' INTERESTS |
Capital introduced by the members form time to time is classified as debt owed by the limited liability partnership and is repayable on demand. |
The members may make drawings from the limited liability partnership at any time, subject to the agreement of the other members and subject also to the cash requirements of the business. |
ON BEHALF OF THE MEMBERS: |
Aspire Investments LLP (Registered number: OC379886) |
Profit and Loss Account |
for the Year Ended 31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT/(LOSS) | ( |
) |
Interest payable and similar expenses |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
12,174 |
(94,568 |
) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
12,174 |
(94,568 |
) |
Members' remuneration charged as an expense | 4 | (12,174 | ) | 94,568 |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
Aspire Investments LLP (Registered number: OC379886) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 145,136 | 69,584 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 9 | 135,211 | 59,659 |
MEMBERS' OTHER INTERESTS |
Undistributable reserves | 10 |
145,136 | 69,584 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | 135,211 | 59,659 |
Members' other interests | 9,925 | 9,925 |
145,136 | 69,584 |
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 were approved by the members of the LLP and authorised for issue on |
Aspire Investments LLP (Registered number: OC379886) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Aspire Investments 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts. |
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 |
4. | INFORMATION IN RELATION TO MEMBERS |
2023 | 2022 |
£ | £ |
Members' remuneration charged as an expense |
Automatic division of profit/(loss) | 12,174 | (94,568 | ) |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Aspire Investments LLP (Registered number: OC379886) |
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 |
Trade creditors | ( |
) |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with other unsecured creditors. |
10. | RESERVES |
Undistributable |
reserves |
£ |
At 1 April 2022 |
and 31 March 2023 |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is P E Mcvay. |