REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
10 FEBRUARY 2022 TO 31 MARCH 2023 |
FOR |
DALE SAUNDERS PROPERTIES LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
10 FEBRUARY 2022 TO 31 MARCH 2023 |
FOR |
DALE SAUNDERS PROPERTIES LLP |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Statement of Comprehensive Income | 4 |
Balance Sheet | 5 |
Reconciliation of Members' Interests | 7 |
Notes to the Financial Statements | 8 |
DALE SAUNDERS PROPERTIES LLP |
GENERAL INFORMATION |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
30 - 34 North Street |
Hailsham |
East Sussex |
BN27 1DW |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
The members present their report with the financial statements of the LLP for the period 10 February 2022 to 31 March 2023. |
INCORPORATION |
The LLP was incorporated on 10 February 2022 and commenced trading on 1 March 2022. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of property rental. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The profit for the period before members' remuneration and profit shares was £82,156. |
MEMBERS' INTERESTS |
All drawings are subject to the partnership having sufficient cash in excess of cash requirements for the business. |
The level of members' capital held within the partnership is determined by the members and is based upon the working capital needs of the business. |
STATEMENT OF MEMBERS' RESPONSIBILITIES |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
ON BEHALF OF THE MEMBERS: |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
STATEMENT OF COMPREHENSIVE INCOME |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
£ |
TURNOVER |
Administrative expenses | ( |
) |
(12,338 | ) |
Other operating income |
OPERATING PROFIT |
Interest receivable and similar income |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
OTHER COMPREHENSIVE INCOME | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
BALANCE SHEET |
31 MARCH 2023 |
Notes | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,393,250 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
690,832 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 2,702,418 |
3,393,250 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 690,832 |
Members' other interests | 2,702,418 |
3,393,250 |
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. |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
BALANCE SHEET - continued |
31 MARCH 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
EQUITY |
Members' other interests |
Members' |
capital |
(classified |
as | Other |
equity) | reserves | Total |
£ | £ | £ |
Balance at 10 February 2022 | - | - | - |
Profit for the financial period available for discretionary division among members |
- |
82,156 |
82,156 |
Members' interests after profit for the period | - | 82,156 | 82,156 |
Other divisions of profit | - | (82,156 | ) | (82,156 | ) |
Introduced by members | 2,702,418 | - | 2,702,418 |
Drawings on account and distributions of profit | - | - | - |
Balance at 31 March 2023 | 2,702,418 | - | 2,702,418 |
DEBT | TOTAL |
Loans and other debts due to | MEMBERS' |
members less any amounts due | INTERESTS |
from members in debtors |
Other |
amounts | Total |
£ | £ |
Amount due to members | - |
Amount due from members | - |
Balance at 10 February 2022 | - | - |
Profit for the financial period available for discretionary division among members |
- |
82,156 |
Members' interests after profit for the period | - | 82,156 |
Other divisions of profit | 82,156 | - |
Introduced by members | 838,276 | 3,540,694 |
Drawings on account and distributions of profit | (229,600 | ) | (229,600 | ) |
Amount due to members | 690,832 |
Amount due from members | - |
Balance at 31 March 2023 | 690,832 | 3,393,250 |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Dale Saunders Properties 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 |
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. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties. |
Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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. |
3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
No significant judgements have had to be made by management in preparing these financial statements. |
There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL. |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
DALE SAUNDERS PROPERTIES LLP (REGISTERED NUMBER: OC440998) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 FEBRUARY 2022 TO 31 MARCH 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors | ( |
) |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Amounts shown as due as loans and other debts due to members rank pari pasu in relation to other creditors in the event of a winding up. |