REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 March 2023 |
for |
Student Dream Pads LLP |
REGISTERED NUMBER: |
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 |
Mrs J S Wilson |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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. |
4 The Courtyard |
Holmsted Farm |
Staplefield Road |
Haywards Heath |
RH17 5JF |
Student Dream Pads LLP (Registered number: OC332152) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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 |
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 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 |
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 |
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 |
Plant and machinery etc | - |
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 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
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 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Loans |
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. |