Registered number
OC303816
Jenus Properties LLP
Filleted Accounts
31 March 2023
Jenus Properties LLP
Registered number: OC303816
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Investment properties 3 270,000 390,000
Current assets
Cash at bank and in hand 5,126 6,185
Creditors: amounts falling due within one year 4 (1,295) (4,399)
Net current assets 3,831 1,786
Total assets less current liabilities 273,831 391,786
Creditors: amounts falling due after more than one year 5 (172,940) (263,235)
Provisions for liabilities (32,339) (28,898)
Net assets attributable to members 68,552 99,653
Represented by:
Members' other interests
Other reserves 68,552 99,653
68,552 99,653
Total members' interests
Members' other interests 68,552 99,653
68,552 99,653
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 to 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.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 28 November 2023 and signed on their behalf by:
H Cooch
Designated member
Jenus Properties LLP
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover relates to rents receivable.
Division of profits
Profits are treated as being available for discretionary division only if 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. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
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.
Investment Property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP - -
3 Tangible fixed assets
Investment properties
£
Cost or valuation
At 1 April 2022 390,000
Revaluation in the year 10,000
Disposals (130,000)
At 31 March 2023 270,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 1,133
Other creditors 1,295 3,266
1,295 4,399
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 172,940 263,235
6 Other information
Jenus Properties LLP is a limited liability partnership incorporated in England. Its registered office is:
15 London End
Beaconsfield
Bucks
HP9 2HN
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