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REGISTERED NUMBER: OC307001 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

The G & L Property Partnership LLP

The G & L Property Partnership LLP (Registered number: OC307001)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The G & L Property Partnership LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mrs J Dabby-Joory
Mrs L Dabby-Joory





REGISTERED OFFICE: 23 Canons Close
Radlett
Hertfordshire
WD7 7ER





REGISTERED NUMBER: OC307001 (England and Wales)





ACCOUNTANTS: Newmans
Chartered Certified Accountants
DVS House
Suite 1, First Floor
4 Spring Villa Road
Edgware
Middlesex
HA8 7EB

The G & L Property Partnership LLP (Registered number: OC307001)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,787,696
Investments 5 - 337
- 1,788,033

CURRENT ASSETS
Debtors 6 737,540 6,938
Cash at bank - 28,501
737,540 35,439
CREDITORS
Amounts falling due within one year 7 97,559 107,760
NET CURRENT ASSETS/(LIABILITIES) 639,981 (72,321 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

639,981

1,715,712

CREDITORS
Amounts falling due after more than one year 8 - 1,074,292
NET ASSETS ATTRIBUTABLE TO
MEMBERS

639,981

641,420

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

639,981

641,420

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 639,981 641,420

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.

The G & L Property Partnership LLP (Registered number: OC307001)

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 28 November 2023 and were signed by:





Mrs L Dabby-Joory - Designated member

The G & L Property Partnership LLP (Registered number: OC307001)

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

1. STATUTORY INFORMATION

The G & L Property Partnership 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
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 1,787,696 13,709 1,801,405
Reclassification/transfer (1,787,696 ) - (1,787,696 )
At 31 March 2023 - 13,709 13,709
DEPRECIATION
At 1 April 2022
and 31 March 2023 - 13,709 13,709
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 1,787,696 - 1,787,696

The G & L Property Partnership LLP (Registered number: OC307001)

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

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022
and 31 March 2023 337
PROVISIONS

Impairments 337
At 31 March 2023 337
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 337

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 737,540 6,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 97,559 107,760

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1,074,292

The G & L Property Partnership LLP (Registered number: OC307001)

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

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Loans from members 126,174 126,174
Amounts owed to members in respect of profits 368,411 365,650
Capital account 145,396 149,596
639,981 641,420

Falling due within one year 639,981 641,420

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.