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REGISTERED NUMBER: OC416226 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SOVEREIGN 2017 LLP

SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


SOVEREIGN 2017 LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: D J Alcock
F H Whittaker
A C K Van Ryne
E A Whittaker





REGISTERED OFFICE: Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU





REGISTERED NUMBER: OC416226 (England and Wales)





ACCOUNTANTS: Monetaire
Sovereign House
22 Shelley Road
WORTHING
West Sussex
BN11 1TU

SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023

The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of rental income

DESIGNATED MEMBERS
The designated members during the year under review were:

D J Alcock
F H Whittaker
A C K Van Ryne
E A Whittaker

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £5,052 (2022 - £9,513 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





D J Alcock - Designated member


24 December 2023

SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
£    £   

TURNOVER - -

Administrative expenses 1,814 1,663
(1,814 ) (1,663 )

Other operating income 6,110 11,147
OPERATING PROFIT 4,296 9,484

Interest receivable and similar income 756 29
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




5,052




9,513

SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 700,000 700,000

CURRENT ASSETS
Debtors 5 9,081 74,781
Cash at bank 244,599 233,130
253,680 307,911
CREDITORS
Amounts falling due within one year 6 61,412 133,792
NET CURRENT ASSETS 192,268 174,119
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

892,268

874,119

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

892,268

874,119

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 892,268 874,119
Amounts due from members 5 (9,081 ) (48,781 )
883,187 825,338

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 financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 December 2023 and were signed by:



D J Alcock - Designated member

SOVEREIGN 2017 LLP (REGISTERED NUMBER: OC416226)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Sovereign 2017 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.

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
Land and
buildings
£   
COST
At 1 April 2022
and 31 March 2023 700,000
NET BOOK VALUE
At 31 March 2023 700,000
At 31 March 2022 700,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests - 26,000
Other debtors 9,081 48,781
9,081 74,781

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 61,412 133,792

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Repayment of members' loans would rank after all other creditors.