Registered number
OC429083
YBA Investments LLP
Unaudited Filleted Accounts
30 October 2022
YBA Investments LLP
Registered number: OC429083
Balance Sheet
as at 30 October 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 1,983,000 565,000
1,983,000 565,000
Current assets
Cash at bank and in hand 40,627 17,725
40,627 17,725
Creditors: amounts falling due within one year 4 (1,540) (1,488)
Net current assets 39,087 16,237
Total assets less current liabilities 2,022,087 581,237
Creditors: amounts falling due after more than one year 5 (825,640) (234,643)
Net assets attributable to members 1,196,447 346,594
Represented by:
Loans and other debts due to members - -
Members' other interests
Members' capital classified as equity 1,114,528 332,525
Other reserves 81,919 14,069
1,196,447 346,594
1,196,447 346,594
Total members' interests
Members' other interests 1,196,447 346,594
1,196,447 346,594
For the period ended 30 October 2022 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:
Mr B Mahmood
Designated member
YBA Investments LLP
Notes to the Accounts
for the period from 1 November 2021 to 30 October 2022
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. Turnover includes revenue earned from the rental of property. Turnover from the rental of property is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 Other reserves in the Balance sheet.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investment Property
Investment property is included at fair value. Gains are recognised in the Income statement. Deferred taxation is not provided on these gains as the tax would be payable by each member as opposed to the LLP.
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 2022 2021
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Investment Property Total
£ £
Cost or valuation
At 1 November 2021 565,000 565,000
Additions 1,373,000 1,373,000
Revaluation 45,000 45,000
Disposals - -
At 30 October 2022 1,983,000 1,983,000
Depreciation
At 1 November 2021 - -
Charge for the period - -
Revaluation - -
On disposals - -
At 30 October 2022 - -
Net book value
At 30 October 2022 1,983,000 1,983,000
At 31 October 2021 565,000 565,000
Freehold land and buildings: 2022 2021
£ £
Historical cost 1,938,000 565,000
1,938,000 565,000
The members of the LLP are in the opinion that there has not been an increase of £45,000 (2021 £Nil) in the fair value of the investment properties during the period. This opinion was ascertained based on similar properties in the locality and reviews conducted on an open market valuation of a freehold basis.
4 Creditors: amounts falling due within one year 2022 2021
£ £
Other creditors 1,540 1,488
1,540 1,488
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 825,640 234,643
825,640 234,643
6 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years 825,640 234,643
825,640 234,643
Secured bank loans 825,640 234,643
Security is given against the freehold interest in the investment properties held by the entity.
7 Other information
YBA Investments LLP is a limited liability partnership incorporated in England. Its registered office is:
9 Parkway
Ilford
London
IG3 9HS
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