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REGISTERED NUMBER: OC381876 (England and Wales)















Ascot & Ryley LLP

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2023






Ascot & Ryley LLP (Registered number: OC381876)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Ascot & Ryley LLP

General Information
for the year ended 31 March 2023







DESIGNATED MEMBERS: ND Adams
DM Adams
GR Hodgson
LD Hodgson





REGISTERED OFFICE: Bank House
Upphall Lane
Priest Hutton
CARNFORTH
Lancashire
LA6 1JL





REGISTERED NUMBER: OC381876 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Ascot & Ryley LLP (Registered number: OC381876)

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:

ND Adams
DM Adams
GR Hodgson
LD Hodgson

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £155,419 (2022 - £16,106 profit).

MEMBERS' INTERESTS
The policies of the LLP regarding the allocation of profits to members, drawings, on account distributions and subscription and repayment of capital are;

Members income is derived from their profit share of the profits of the LLP and they are required to make their own provision for pension and other benefits. Profits are allocated and divided between members after finalisation of the financial statements.

During the year members may receive monthly drawings the level and timing of which are decided by a majority of the members. These drawings represent payments on account of current year profits and are reclaimable from members until profits have been finalised and allocated.

The capital requirements of the partnership are determined from time to time by a majority of the members voting at a members meeting.

ON BEHALF OF THE MEMBERS:





ND Adams - Designated member


20 September 2023

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Ascot & Ryley LLP


In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Ascot & Ryley LLP for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Ascot & Ryley LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ascot & Ryley LLP and state those matters that we have agreed to state to the members of Ascot & Ryley LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ascot & Ryley LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Ascot & Ryley LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ascot & Ryley LLP. You consider that Ascot & Ryley LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ascot & Ryley LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McMillan & Co LLP
Chartered Accountants


20 September 2023

Ascot & Ryley LLP (Registered number: OC381876)

Income Statement
for the year ended 31 March 2023

2023 2022
Notes £ £

TURNOVER - -

Administrative expenses 674 797
OPERATING LOSS (674 ) (797 )

Profit/loss on disposal of fixed asset
investments

4

156,093

16,903
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




155,419




16,106

Ascot & Ryley LLP (Registered number: OC381876)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investment property 5 - 201,121

CURRENT ASSETS
Debtors 6 185,504 2,782
Cash at bank 4,747 10,099
190,251 12,881
CREDITORS
Amounts falling due within one year 7 540 1,710
NET CURRENT ASSETS 189,711 11,171
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

189,711

212,292

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

189,711

212,292

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 189,711 212,292

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 31 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.

Ascot & Ryley LLP (Registered number: OC381876)

Balance Sheet - continued
31 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 20 September 2023 and were signed by:




ND Adams - Designated member




GR Hodgson - Designated member


Ascot & Ryley LLP (Registered number: OC381876)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Ascot & Ryley 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 (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

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.

In accordance with Financial Reporting Standard 102, certain of the company's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. This policy represents a departure from the requirements of the Companies Act, which requires depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the Financial Statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

3. EMPLOYEE INFORMATION

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

4. EXCEPTIONAL ITEMS
2023 2022
£ £
Profit/loss on disposal of fixed asset
investments

156,093

16,903

Ascot & Ryley LLP (Registered number: OC381876)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2022 201,121
Disposals (201,121 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 201,121

The investment property was held at partners' valuation.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 185,504 2,782

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors - 1,210
Other creditors 540 500
540 1,710

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the case of an insolvent winding up the members will rank ‘pari passu’ with other unsecured creditors of the LLP.