IRIS Accounts Production v23.3.0.418 OC332152 designated member 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3321522022-03-31OC3321522023-03-31OC3321522022-04-012023-03-31OC3321522021-03-31OC3321522021-04-012022-03-31OC3321522022-03-31OC332152ns10:Originalns15:EnglandWales2022-04-012023-03-31OC332152ns14:PoundSterlingns10:Original2022-04-012023-03-31OC332152ns10:Originalns10:Director12022-04-012023-03-31OC332152ns10:Original2022-04-012023-03-31OC332152ns10:Original2023-03-31OC332152ns10:Originalns10:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC332152ns10:Originalns10:SmallEntities2022-04-012023-03-31OC332152ns10:Originalns10:AuditExemptWithAccountantsReport2022-04-012023-03-31OC332152ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31OC332152ns10:LimitedLiabilityPartnershipsSORPns10:Original2022-04-012023-03-31OC332152ns10:Originalns10:FullAccounts2022-04-012023-03-31OC332152ns10:Original2021-04-012022-03-31OC332152ns10:Originalns10:RegisteredOffice2022-04-012023-03-31OC332152ns10:Original2022-03-31OC332152ns10:Originalns5:CurrentFinancialInstruments2023-03-31OC332152ns10:Originalns5:CurrentFinancialInstruments2022-03-31OC332152ns10:Originalns5:Non-currentFinancialInstruments2023-03-31OC332152ns10:Originalns5:Non-currentFinancialInstruments2022-03-31OC332152ns10:Originalns5:PlantMachinery2022-04-012023-03-31OC332152ns10:Originalns5:PlantMachinery2022-03-31OC332152ns10:Originalns5:PlantMachinery2023-03-31OC332152ns10:Originalns5:PlantMachinery2022-03-31OC332152ns10:Original2022-03-31OC332152ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC332152ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31OC332152ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31OC332152ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-03-31OC332152ns5:Securedns10:Original2023-03-31OC332152ns5:Securedns10:Original2022-03-31OC332152ns10:Original12022-04-012023-03-31
REGISTERED NUMBER: OC332152 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Student Dream Pads LLP

Student Dream Pads LLP (Registered number: OC332152)






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




Page

General Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Student Dream Pads LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: P M Sweeney
J H Wills
Mrs J S Wilson





REGISTERED OFFICE: 17 Lime Kiln Road
Mannings Heath
Horsham
West Sussex
RH13 6JH





REGISTERED NUMBER: OC332152 (England and Wales)





ACCOUNTANTS: Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Student Dream Pads LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

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 Student Dream Pads 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 Student Dream Pads 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 Student Dream Pads LLP and state those matters that we have agreed to state to the members of Student Dream Pads 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 Student Dream Pads LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Student Dream Pads 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 Student Dream Pads LLP. You consider that Student Dream Pads 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 Student Dream Pads 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.






Warren House Accountants Limited
4 The Courtyard
Holmsted Farm
Staplefield Road
Haywards Heath
RH17 5JF


20 November 2023

Student Dream Pads LLP (Registered number: OC332152)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 235 95
Investment property 5 155,140 155,140
155,375 155,235

CURRENT ASSETS
Debtors 6 906 -
Cash at bank 1,476 342
2,382 342
CREDITORS
Amounts falling due within one year 7 1,686 900
NET CURRENT ASSETS/(LIABILITIES) 696 (558 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,071

154,677

CREDITORS
Amounts falling due after more than one
year

8

127,801

127,801
NET ASSETS ATTRIBUTABLE TO
MEMBERS

28,270

26,876

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

28,270

26,876

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 28,270 26,876

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.

Student Dream Pads LLP (Registered number: OC332152)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 20 November 2023 and were signed by:





J H Wills - Designated member

Student Dream Pads LLP (Registered number: OC332152)

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

1. STATUTORY INFORMATION

Student Dream Pads 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
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A - The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland ('FRS 102'), Companies Act 2006 as applied by LLPs and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships, issued in December 2017. The financial statements have been prepared on the historical cost convention.

Turnover
Turnover represents rental income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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 NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 3,018
Additions 214
At 31 March 2023 3,232
DEPRECIATION
At 1 April 2022 2,923
Charge for year 74
At 31 March 2023 2,997
NET BOOK VALUE
At 31 March 2023 235
At 31 March 2022 95

Student Dream Pads LLP (Registered number: OC332152)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 155,140
NET BOOK VALUE
At 31 March 2023 155,140
At 31 March 2022 155,140

The members have reviewed the market value of the property and are of the opinion that the current market value is not materially different to the value included in the accounts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 906 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 1,686 900

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors 127,801 127,801

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 127,801 127,801

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Loans 127,801 127,801

The loan above is secured against the investment property to which the mortgage relates.

Student Dream Pads LLP (Registered number: OC332152)

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

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 28,270 26,876

Falling due within one year 28,270 26,876

The amounts due to members ranks equally in relation to creditors.

11. POST BALANCE SHEET EVENTS

The Investment property held in the partnership was put up for sale. The property is under offer at a value of £155,000 but is yet to complete.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the members.