Limited Liability Partnership registration number OC441624 (England and Wales)
ZEDELL LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD 23 MARCH 2022 TO 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ZEDELL LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ZEDELL LLP
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investment property
4
4,200,000
Current assets
Cash at bank and in hand
137,110
Creditors: amounts falling due within one year
5
(2,580)
Net current assets
134,530
Total assets less current liabilities and net assets attributable to members
4,334,530
Represented by:
Loans and other debts due to members within one year
6
Amounts due in respect of profits
80,482
Other amounts
4,252,048
4,332,530
Members' other interests
6
Members' capital classified as equity
2,000
4,334,530

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial period ended 31 March 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 28 November 2023 and are signed on their behalf by:
28 November 2023
Z Ilyas
Designated member
Limited Liability Partnership Registration No. OC441624
ZEDELL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Limited liability partnership information

ZEDELL LLP is a limited liability partnership incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

This is the first time the LLP has presented its financial statements since its incorporation and hence the financial statements presented are for a period of more than twelve months with no comparatives.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents the amounts recoverable for property rental services.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

ZEDELL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2023
Number
Total
-
0
3
Information in relation to members
2023
Number
Average number of members during the period
2
4
Investment property
2023
£
Fair value
At 23 March 2022
-
Additions through external acquisition
4,200,000
At 31 March 2023
4,200,000

In the opinion of the members, the fair value of the investment properties is not materially different to the carrying value in the accounts as at the balance sheet date.

5
Creditors: amounts falling due within one year
2023
£
Other creditors
2,580
ZEDELL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 4 -
6
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital
Other reserves
Total
Other amounts
Total
Total
2023
£
£
£
£
£
£
Members' interests at 23 March 2022
-
-
-
-
-
-
Profit for the period available for discretionary division among members
-
80,482
80,482
-
-
80,482
Members' interests after profit for the period
-
80,482
80,482
-
-
80,482
Allocation of profit for the period
-
(80,482)
(80,482)
80,482
80,482
-
Introduced by members
2,000
-
2,000
4,198,000
4,198,000
4,200,000
Repayment of debt (including members' capital classified as a liability)
-
-
-
54,048
54,048
54,048
Members' interests at 31 March 2023
2,000
-
2,000
4,332,530
4,332,530
4,334,530
ZEDELL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
7
Loans and other debts due to members

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

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