IRIS Accounts Production v23.4.0.336 OC366724 designated member 1.11.22 31.10.23 31.10.23 0 0 false true false false true false Fair value model 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3667242022-10-31OC3667242023-10-31OC3667242022-11-012023-10-31OC3667242021-10-31OC3667242021-11-012022-10-31OC3667242022-10-31OC366724ns15:EnglandWales2022-11-012023-10-31OC366724ns14:PoundSterling2022-11-012023-10-31OC366724ns10:Director12022-11-012023-10-31OC366724ns10:LimitedLiabilityPartnershipLLP2022-11-012023-10-31OC366724ns10:SmallEntities2022-11-012023-10-31OC366724ns10:AuditExemptWithAccountantsReport2022-11-012023-10-31OC366724ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31OC366724ns10:LimitedLiabilityPartnershipsSORP2022-11-012023-10-31OC366724ns10:FullAccounts2022-11-012023-10-31OC366724ns10:Director22022-11-012023-10-31OC366724ns10:RegisteredOffice2022-11-012023-10-31OC366724ns5:CurrentFinancialInstruments2023-10-31OC366724ns5:CurrentFinancialInstruments2022-10-31OC366724ns5:Non-currentFinancialInstruments2023-10-31OC366724ns5:Non-currentFinancialInstruments2022-10-31OC366724ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-31OC366724ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-31OC366724ns5:PlantMachinery2022-11-012023-10-31OC366724ns5:PlantMachinery2022-10-31OC366724ns5:PlantMachinery2023-10-31OC366724ns5:PlantMachinery2022-10-31OC366724ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31OC366724ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31OC366724ns5:Secured2023-10-31OC366724ns5:Secured2022-10-31
REGISTERED NUMBER: OC366724 (England and Wales)















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: JPW Trade Limited
Stirlin Group Limited





REGISTERED OFFICE: 11 Sadler Court
Stirlin Point
Lincoln
Lincolnshire
LN6 3RG





REGISTERED NUMBER: OC366724 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
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:

JPW Trade Limited
Stirlin Group Limited

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 Group Limited - Designated member


20 March 2024

STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724)

INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

TURNOVER 1,661,678 1,863,375

Cost of sales 1,518,173 1,765,267
GROSS PROFIT 143,505 98,108

Administrative expenses 33,714 36,514
109,791 61,594

Other operating income 159,389 116,009
OPERATING PROFIT 269,180 177,603

Fair value gain on investments 4 29,662 134,341
298,842 311,944


Interest payable and similar expenses 202,439 143,236
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 3,523 4,404
Investment property 7 2,215,000 2,185,338
2,218,523 2,189,742

CURRENT ASSETS
Stocks 3,121,974 2,795,818
Debtors 8 1,872,847 1,005,613
Cash at bank 21,916 89,990
5,016,737 3,891,421
CREDITORS
Amounts falling due within one year 9 2,417,842 1,327,501
NET CURRENT ASSETS 2,598,895 2,563,920
TOTAL ASSETS LESS CURRENT LIABILITIES 4,817,418 4,753,662

CREDITORS
Amounts falling due after more than one year 10 1,387,999 1,420,646
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 164,003 134,341
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 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 31 October 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.

STIRLIN SADLER ROAD SPV LLP (REGISTERED NUMBER: OC366724)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023


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

The financial statements were approved by James Kirby for and on behalf of the members of the LLP and authorised for issue on 20 March 2024 and were signed by:





Stirlin Group Limited - Designated member

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
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.
Plant and machinery etc - 20% on reducing balance

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 29,662 134,341

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 7,000
DEPRECIATION
At 1 November 2022 2,596
Charge for year 881
At 31 October 2023 3,477
NET BOOK VALUE
At 31 October 2023 3,523
At 31 October 2022 4,404

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 2,185,338
Revaluations 29,662
At 31 October 2023 2,215,000
NET BOOK VALUE
At 31 October 2023 2,215,000
At 31 October 2022 2,185,338

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 6,360 14,073
Other debtors 1,866,487 991,540
1,872,847 1,005,613

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 561,545 767,199
Trade creditors 214,361 211,819
Other creditors 1,641,936 348,483
2,417,842 1,327,501

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,387,999 1,420,646

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 1,949,544 2,187,845

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.