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REGISTERED NUMBER: OC377432 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

10 PEMBRIDGE ROAD LLP

10 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377432)






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

Chartered Accountants' Report 7

10 PEMBRIDGE ROAD LLP

GENERAL INFORMATION
for the year ended 31 March 2023







DESIGNATED MEMBERS: Mrs M Lyons
Miss D Lyons





REGISTERED OFFICE: 88 Crawford Street
London
W1H 2EJ





REGISTERED NUMBER: OC377432 (England and Wales)





ACCOUNTANTS: Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ

10 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377432)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 342
Investment property 5 2,525,000 3,500,000
2,525,000 3,500,342

CURRENT ASSETS
Debtors 6 313,845 257,561
Cash at bank 44,710 14,682
358,555 272,243
CREDITORS
Amounts falling due within one year 7 817,349 878,285
NET CURRENT LIABILITIES (458,794 ) (606,042 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,066,206

2,894,300

CREDITORS
Amounts falling due after more than one
year

8

1,388,750

1,237,500
NET ASSETS ATTRIBUTABLE TO
MEMBERS

677,456

1,656,800

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

16,600

20,944

MEMBERS' OTHER INTERESTS
Fair value reserve 660,856 1,635,856
677,456 1,656,800

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 16,600 20,944
Members' other interests 660,856 1,635,856
Amounts due from members 6 (313,240 ) (252,184 )
364,216 1,404,616

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.

10 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377432)

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 M Lyons - Designated member

10 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377432)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

10 Pembridge Road 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 as modified by the revaluation of certain assets.

The financial statements are prepared in UK Pound Sterling, which is the functional currency of the LLP.

Turnover
Turnover is measured at the fair value of the consideration received or receivable in respect of rent and service charge, excluding discounts, rebates, value added tax and other sales taxes. They are recognised in the period that they relate to.

Investment property
Investment property is initially measured at cost on acquisition and subsequently at fair value as at each accounts date. Changes in fair value are recognised in the income statement.

Employee benefits
The LLP provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

Short term benefits:
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Annual bonus plans:
The LLP recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made.

Defined contribution pension plans:
The LLP operates a defined contribution plan. A defined contribution plan is a pension plan under which the LLP pays fixed contributions into a separate fund. Under defined contribution plans, the LLP has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the LLP pays contributions to privately administered pension plans on a contractual or voluntary basis. The LLP has no further payment obligations once the contributions have been paid. The contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2022 - 1 ) .

10 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377432)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 1,370
DEPRECIATION
At 1 April 2022 1,028
Charge for year 342
At 31 March 2023 1,370
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 342

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 3,500,000
Revaluations (975,000 )
At 31 March 2023 2,525,000
NET BOOK VALUE
At 31 March 2023 2,525,000
At 31 March 2022 3,500,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 3,500,000
Valuation in 2023 (975,000 )
2,525,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 313,845 257,561

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 3,705 2,281
Other creditors 813,644 876,004
817,349 878,285

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,388,750 1,237,500

10 PEMBRIDGE ROAD LLP (REGISTERED NUMBER: OC377432)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' are unsecured and rank equally with debts to other unsecured creditors in a winding up.

10. RELATED PARTY DISCLOSURES

Mrs M Lyons and Miss D Lyons are both members of 14 Pembridge Road LLP.

Other creditors include £778,733 (2022: £850,704) owed to 14 Pembridge Road LLP.

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
10 PEMBRIDGE ROAD 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 10 Pembridge Road 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 10 Pembridge Road 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 10 Pembridge Road LLP and state those matters that we have agreed to state to the members of 10 Pembridge Road 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 10 Pembridge Road LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that 10 Pembridge Road 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 loss of 10 Pembridge Road LLP. You consider that 10 Pembridge Road 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 10 Pembridge Road 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.






Cameron Baum Hollander Limited
88 Crawford Street
London
W1H 2EJ


28 November 2023