REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
STIRLIN SADLER ROAD SPV LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
STIRLIN SADLER ROAD SPV LLP |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Statement of Financial Position | 4 | to | 5 |
Reconciliation of Members' Interests | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 10 |
STIRLIN SADLER ROAD SPV LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Henley Way |
Doddington Road |
Lincoln |
Lincolnshire |
LN6 3QR |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 October 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property developers. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
Stirlin Developments Limited |
JPW (Holdings) Ltd |
Other changes in designated members are as follows: |
Stirlin Developments Limited resigned as a member after 31 October 2021 but prior to the date of this report. |
JPW (Holdings) Ltd resigned as a member after 31 October 2021 but prior to the date of this report. |
Stirlin Group Limited was appointed as a member after 31 October 2021 but prior to the date of this report. |
JPW Trade Limited was appointed as a member after 31 October 2021 but prior to the date of this report. |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £96,403 (2022 - £168,708 profit). |
MEMBERS' INTERESTS |
Members capital is subscribed to in accordance with the members agreement and will be repaid by the Limited Liability Partnership on the departure of a member from the Limited Liability Partnership. |
Profits for the year are allocated in accordance with the members agreement. |
Members may only make drawings on account of profits if all members agree and in such case any overdrawing of profits, as disclosed in the annual financial statements, shall be repaid immediately. |
ON BEHALF OF THE MEMBERS: |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
109,791 | 61,594 |
Other operating income |
OPERATING PROFIT |
Fair value gain on investments | 4 |
298,842 | 311,944 |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
96,403 |
168,708 |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
96,403 |
168,708 |
Members' remuneration charged as an expense | 5 | (96,403 | ) | (168,708 | ) |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
Investment property | 7 |
CURRENT ASSETS |
Stocks |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 3,429,419 | 3,333,016 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 12 | 3,265,416 | 3,198,675 |
MEMBERS' OTHER INTERESTS |
Fair value reserve |
3,429,419 | 3,333,016 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 12 | 3,265,416 | 3,198,675 |
Members' other interests | 164,003 | 134,341 |
3,429,419 | 3,333,016 |
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. |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2023 |
The financial statements were approved by James Kirby for and on behalf of the members of the LLP and authorised for issue on |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 3,198,675 |
Amount due from members | - |
Balance at 1 November 2022 | 134,341 | 3,198,675 | 3,333,016 |
Members' remuneration charged as an expense, including employment and retirement benefit costs |
- |
96,403 |
96,403 |
Profit for the financial year available for discretionary division among members |
- |
- |
- |
Members' interests after profit for the year |
134,341 |
3,295,078 |
3,429,419 |
Fair value reserve | 29,662 | - | 29,662 |
Introduced by members | - | (29,662 | ) | (29,662 | ) |
Amount due to members | 3,265,416 |
Amount due from members | - |
Balance at 31 October 2023 | 164,003 | 3,265,416 | 3,429,419 |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 3,215,090 |
Amount due from members | - |
Balance at 1 November 2021 | - | 3,215,090 | 3,215,090 |
Members' remuneration charged as an expense, including employment and retirement benefit costs |
- |
168,708 |
168,708 |
Profit for the financial year available for discretionary division among members |
- |
- |
- |
Members' interests after profit for the year |
- |
3,383,798 |
3,383,798 |
Fair value reserve | 134,341 | - | 134,341 |
Introduced by members | - | (185,123 | ) | (185,123 | ) |
Amount due to members | 3,198,675 |
Amount due from members | - |
Balance at 31 October 2022 | 134,341 | 3,198,675 | 3,333,016 |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Stirlin Sadler Road SPV LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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. |
Stocks |
Stocks are stated at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | EXCEPTIONAL ITEMS |
2023 | 2022 |
£ | £ |
Fair value gain on investments |
5. | INFORMATION IN RELATION TO MEMBERS |
2023 | 2022 |
£ | £ |
Members' remuneration charged as an expense |
Automatic division of profit | 96,403 | 168,708 |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2022 |
Revaluations | 29,662 |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 2022 | 134,341 |
Valuation in 2023 | 29,662 |
Cost | 2,050,997 |
2,215,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 2,050,997 | 2,050,997 |
Investment property was valued on on open market basis on 31 October 2023 by the members . |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,264,549 | 1,260,777 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
The loans are secured by a charge over the LLP's investment property |
12. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 3,265,416 | 3,198,675 |
Falling due within one year | 3,265,416 | 3,198,675 |
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |