Amba Investments LLP Filleted Accounts Cover
Amba Investments LLP
Registered No. OC334281
Information for Filing with the Registrar
31 March 2023
Amba Investments LLP Balance Sheet Registrar
at
31 March 2023
Registered No.
OC334281
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
These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
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:
Suite 2
Rama Apartments
17 St Anns Road
Harrow
HA1 1JU
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.
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
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

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
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

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
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
3
Employees
2023
2022
Number
Number
The average number of persons employed during the year was:
0
0
4
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2022
3,168,428
Additions
321,890
At 31 March 2023
3,490,318
Investment properties are included at fair value at year end date. The fair value of the investment property are derived based on the valuation carried out by the designated members. Adjustments are made where there has been material change in the value of the investment property.
5
Debtors
2023
2022
£
£
Trade debtors
125,29798,463
VAT recoverable
55,422-
Other debtors
46,14069,210
226,859167,673
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
--
Other loans
305,000150,000
Trade creditors
8,828337,734
Other taxes and social security
-9,586
Accruals and deferred income
128,056119,510
441,884616,830
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
The financial statements contains capital injections from members which are interest free and there are no terms of repayments attached to these amounts.
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