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REGISTERED NUMBER: OC420147 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2023

for

Abootalebi Family Partnership LLP

Abootalebi Family Partnership LLP (Registered number: OC420147)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Abootalebi Family Partnership LLP

General Information
for the Year Ended 31st March 2023







DESIGNATED MEMBERS: H Abootalebi
Ms L Hamidi-Manesh
Abootalebi Family Holdings Ltd





REGISTERED OFFICE: c/o OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Billingham
Co. Durham
TS23 4EA





REGISTERED NUMBER: OC420147 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Abootalebi Family Partnership LLP (Registered number: OC420147)

Balance Sheet
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,401,397 8,074,904

CURRENT ASSETS
Debtors 5 3,100 -
Cash at bank 122,768 63,481
125,868 63,481
CREDITORS
Amounts falling due within one year 6 (12,622 ) (22,062 )
NET CURRENT ASSETS 113,246 41,419
TOTAL ASSETS LESS CURRENT LIABILITIES 7,514,643 8,116,323

CREDITORS
Amounts falling due after more than one year 7 (4,335,149 ) (4,377,641 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,179,494 3,738,682

LOANS AND OTHER DEBTS DUE TO MEMBERS 9 3,179,494 3,738,682

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 3,179,494 3,738,682

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 31st 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.

Abootalebi Family Partnership LLP (Registered number: OC420147)

Balance Sheet - continued
31st March 2023


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

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 13th March 2024 and were signed by:





H Abootalebi - Designated member

Abootalebi Family Partnership LLP (Registered number: OC420147)

Notes to the Financial Statements
for the Year Ended 31st March 2023

1. STATUTORY INFORMATION

Abootalebi Family Partnership 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 as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost and 25% on reducing balance

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st April 2022 8,025,000 88,325 8,113,325
Disposals - (2,052 ) (2,052 )
Revaluations (660,000 ) - (660,000 )
At 31st March 2023 7,365,000 86,273 7,451,273
DEPRECIATION
At 1st April 2022 - 38,421 38,421
Charge for year - 12,132 12,132
Eliminated on disposal - (677 ) (677 )
At 31st March 2023 - 49,876 49,876
NET BOOK VALUE
At 31st March 2023 7,365,000 36,397 7,401,397
At 31st March 2022 8,025,000 49,904 8,074,904

Abootalebi Family Partnership LLP (Registered number: OC420147)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st March 2023 is represented by:

Land and
buildings
£   
Valuation in 2019 1,270,000
Valuation in 2020 (395,000 )
Valuation in 2021 (320,000 )
Valuation in 2022 1,525,000
Valuation in 2023 (660,000 )
Cost 5,945,000
7,365,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,100 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,622 9,554
Hire purchase contracts - 7,823
Trade creditors - 1,685
Other creditors 3,000 3,000
12,622 22,062

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 25,979 35,669
Hire purchase contracts - 38,181
Mortgage 4,309,170 4,303,791
4,335,149 4,377,641

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 4,309,170 4,303,792

Abootalebi Family Partnership LLP (Registered number: OC420147)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.