Registered number
OC391984
WHITE STAR (BPRA) LLP
Filleted Accounts
For the year ended 31.03.2023
WHITE STAR (BPRA) LLP
Registered number: OC391984
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,755,022 2,909,428
2,755,022 2,909,428
Current assets
Debtors 4 3,788 1,086
Cash at bank and in hand 6,591 829
10,379 1,915
Creditors: amounts falling due within one year 5 (195,314) (139,788)
Net current liabilities (184,935) (137,873)
Total assets less current liabilities 2,570,087 2,771,555
Creditors: amounts falling due after more than one year 6 (2,168,041) (2,168,041)
Net assets attributable to members 402,046 603,514
Represented by:
Loans and other debts due to members 7 1,499,680 1,499,680
Members' other interests
Other reserves (1,097,634) (896,166)
402,046 603,514
Total members' interests
Loans and other debts due to members 7 1,499,680 1,499,680
Members' other interests (1,097,634) (896,166)
402,046 603,514
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 10 January 2024 and signed on their behalf by:
Philip Michael Ingman
Designated member
WHITE STAR (BPRA) 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rent. Turnover from the rent is recognised by completion of providing the sevice to the customers. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated costs.
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.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements 26 years straight line
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Going concern
We approve the accounts to be prepared on a going concern basis (i.e. 12 months from the day of signing the accounts) even though there is no rent receivable. The members have assured their support to assist the partnership by not calling for the amounts due to them by the partnership and further providing funds to continue to meet the day-to-day financial commitments. Further, the lenders who have provided the loan of £2,168,041 to the partnership have agreed not to call for the loan or repayments until such time that the partnership has sold its leased asset and repaid the loan. On the realization of the company assets, the disposal proceeds will exceed the partnership liabilities.
Borrowing cost
All borrowing cost are recognised in the accounts in the year in which they are incurred
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Leasehold improvements Leasehold improvements
£ £
Cost
At 1 April 2022 4,000,000
At 31 March 2023 4,000,000
Depreciation
At 1 April 2022 1,090,572
Charge for the year 154,406
At 31 March 2023 1,244,978
Net book value
At 31 March 2023 2,755,022
At 31 March 2022 2,909,428
4 Debtors 2023 2022
£ £
Other debtors 3,788 1,086
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,376 6,876
Other creditors 189,938 132,912
195,314 139,788
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other loans 2,168,041 2,168,041
The loan of £ 2,168,041 in 2023 ( 2022- £2,168,041 ) is secured on the fixed assets of the LLP
7 Loans and other debts due to members 2023 2022
£ £
Members capital classified as debt 1,499,680 1,499,680
1,499,680 1,499,680
Amounts falling due within one year 1,499,680 1,499,680
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
WHITE STAR (BPRA) LLP is a limited liability partnership incorporated in England. Its registered office is:
128 Buckingham Palace Road,
London
SW1W 9SA
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