0 false false false false false false false false false false false false false false true true No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,765,913 861 2,765,052 2,765,052 2,765,913 xbrli:pure xbrli:shares iso4217:GBP OC436158 2022-04-01 2023-03-31 OC436158 2023-03-31 OC436158 2022-03-31 OC436158 2021-03-19 2022-03-31 OC436158 2022-03-31 OC436158 2021-03-18 OC436158 bus:Director2 2022-04-01 2023-03-31 OC436158 bus:Director3 2022-04-01 2023-03-31 OC436158 core:AfterOneYear 2023-03-31 OC436158 core:AfterOneYear 2022-03-31 OC436158 core:WithinOneYear 2023-03-31 OC436158 core:WithinOneYear 2022-03-31 OC436158 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 OC436158 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 OC436158 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 OC436158 core:Non-currentFinancialInstruments 2023-03-31 OC436158 core:Non-currentFinancialInstruments 2022-03-31 OC436158 bus:SmallEntities 2022-04-01 2023-03-31 OC436158 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 OC436158 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 OC436158 bus:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC436158 bus:FullAccounts 2022-04-01 2023-03-31
REGISTERED NUMBER: OC436158
BAPA PROPERTIES LLP
Filleted Unaudited Financial Statements
31 March 2023
BAPA PROPERTIES LLP
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
2,765,052
2,765,913
Current assets
Debtors
5
24,527
Cash at bank and in hand
272,832
36,415
---------
--------
297,359
36,415
Creditors: amounts falling due within one year
6
11,440
2,400
---------
--------
Net current assets
285,919
34,015
------------
------------
Total assets less current liabilities
3,050,971
2,799,928
Creditors: amounts falling due after more than one year
7
376,121
189,375
------------
------------
Net assets
2,674,850
2,610,553
------------
------------
Represented by:
Loans and other debts due to members
Other amounts
8
2,674,850
2,610,553
Members' other interests
Other reserves
------------
------------
2,674,850
2,610,553
------------
------------
Total members' interests
Loans and other debts due to members
8
2,674,850
2,610,553
Members' other interests
------------
------------
2,674,850
2,610,553
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 the LLP 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 LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
BAPA PROPERTIES LLP
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the members and authorised for issue on 12 January 2024 , and are signed on their behalf by:
Yogendra Mansukhlal Shah
Dharmendra Mansukhlal Shah
Designated Member
Designated Member
Registered number: OC436158
BAPA PROPERTIES LLP
Notes to the Financial Statements
Year ended 31 March 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is 57 Westow Hill, London, ES19 1TS.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.
4.
Investments
Other investments other than loans
£
Cost
At 1 April 2022
2,765,913
Additions
( 861)
------------
At 31 March 2023
2,765,052
------------
Impairment
At 1 April 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
2,765,052
------------
At 31 March 2022
2,765,913
------------
5.
Debtors
2023
2022
£
£
Other debtors
24,527
--------
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
11,440
2,400
--------
-------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
376,121
189,375
---------
---------
8.
Loans and other debts due to members
2023
2022
£
£
Amounts owed to members in respect of profits
2,674,850
2,610,553
------------
------------