Registered number
OC316237
Salisbury Site LLP
Filleted Accounts
31 March 2023
Salisbury Site LLP
Registered number: OC316237
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 100,000 100,000
Current assets
Cash at bank and in hand - 885
Creditors: amounts falling due within one year 4 (500) (675)
Net current (liabilities)/assets (500) 210
Total assets less current liabilities 99,500 100,210
Net assets attributable to members 99,500 100,210
Represented by:
Loans and other debts due to members 5 3,697,412 3,696,859
Members' other interests
Members' capital classified as equity (13,759) (13,759)
Other reserves (3,584,153) (3,582,890)
(3,597,912) (3,596,649)
99,500 100,210
Total members' interests
Loans and other debts due to members 5 3,697,412 3,696,859
Members' other interests (3,597,912) (3,596,649)
99,500 100,210
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 22 November 2023 and signed on their behalf by:
I P Culverhouse
Designated member
Salisbury Site 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.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
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 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 100,000
At 31 March 2023 100,000
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 100,000
At 31 March 2022 100,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 500 675
5 Loans and other debts due to members 2023 2022
£ £
Loans from members 3,697,412 3,696,859
Amounts falling due within one year 3,697,412 3,696,859
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Contingent liabilities
The company has agreed that in the event of the sale of the LLP land, a third party will receive 30% of the sale value less £50,000 and less certain planning costs. In respect of this contingent liability, the third party has a charge on the LLP's assets.
7 Other information
Salisbury Site LLP is a limited liability partnership incorporated in England. Its registered office is:
Manor Farm House
Ecclesden Lane
Angmering, Littlehampton
W Sussex
BN16 4DQ
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