REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
GLOCK, PALMER & WEST LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
FOR |
GLOCK, PALMER & WEST LLP |
GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GLOCK, PALMER & WEST LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MAY 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Hartfield Place |
40 - 44 High Street |
Northwood |
Middlesex |
HA6 1BN |
GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579) |
ABRIDGED BALANCE SHEET |
31 MAY 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,241,056 |
1,229,483 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
5 |
528,747 |
517,174 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 90,000 | 90,000 |
Revaluation reserve | 6 |
1,241,056 | 1,229,483 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 528,747 | 517,174 |
Members' other interests | 712,309 | 712,309 |
1,241,056 | 1,229,483 |
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. |
GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579) |
ABRIDGED BALANCE SHEET - continued |
31 MAY 2023 |
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 |
GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2023 |
1. | STATUTORY INFORMATION |
Glock, Palmer & West 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 |
Turnover |
Turnover comprises the invoiced value of rents receivable. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Fair value at 31 May 2023 is represented by: |
£ |
Valuation in 2013 | 472,310 |
Valuation in 2015 | 150,000 |
Cost | 577,690 |
1,200,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.5.23 | 31.5.22 |
£ | £ |
Cost | 577,690 | 577,690 |
Investment property was valued on an open market basis on 31 May 2023 by the partners . |
GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2023 |
5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank after amounts due to other creditors. |
6. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2022 |
At 31 May 2023 |