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REGISTERED NUMBER: OC324046 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

45 Oakfield Road LLP

45 Oakfield Road LLP (Registered number: OC324046)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


45 Oakfield Road LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: A J Wotton
K P Webb
R G Holder



REGISTERED OFFICE: Whetcombe Whey
Ropers Lane
Wrington
Somerset
BS40 5NH



BUSINESS ADDRESS: 45 Oakfield Road
Clifton
Bristol
BS8 2AX



REGISTERED NUMBER: OC324046 (England and Wales)



ACCOUNTANTS: R G Holder & Co Ltd
Chartered Accountants
Whetcombe Whey
Ropers Lane
Wrington
Somerset
BS40 5NH



BANKERS: Handelsbanken
Pembroke House
15 Pembroke Road
Clifton
Bristol
BS8 3BA

45 Oakfield Road LLP (Registered number: OC324046)

Abridged Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,110,418 1,110,418

CURRENT ASSETS
Debtors 1,484 1,359
Cash at bank 77,796 100,820
79,280 102,179
CREDITORS
Amounts falling due within one year 82,129 91,211
NET CURRENT (LIABILITIES)/ASSETS (2,849 ) 10,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,107,569

1,121,386

CREDITORS
Amounts falling due after more than one year 685,000 705,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

422,569

416,386

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

422,569

416,386

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 422,569 416,386

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 2024.

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.

45 Oakfield Road LLP (Registered number: OC324046)

Abridged Balance Sheet - continued
31st March 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 15th April 2024 and were signed by:





R G Holder - Designated member

45 Oakfield Road LLP (Registered number: OC324046)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

45 Oakfield Road 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 consists of the value, excluding VAT, for goods and services supplied to third parties in the ordinary course of business during the year and is attributable to the principal activity of the company.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on cost

While acknowledging that it is a requirement of the Companies Act, the members believe that the cost of the investment property is no less than the value shown in the accounts as at the year end and no depreciation has been provided.

It is the members' intention to maintain the property to its present state in order to maintain the value reflected in the accounts.

During the year to the 31st March 2024, CSquared, Chartered Surveyors undertook a valuation of the property. The property's market value in January 2024 was £1,715,000 assuming vacant possession.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023
and 31st March 2024 1,148,681
DEPRECIATION
At 1st April 2023
and 31st March 2024 38,263
NET BOOK VALUE
At 31st March 2024 1,110,418
At 31st March 2023 1,110,418

45 Oakfield Road LLP (Registered number: OC324046)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS - continued

During the year to the 31st March 2024, CSquared, Chartered Surveyors undertook a valuation of the property. The property's market value in January 2024 was £1,715,000 assuming vacant possession.

5. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 705,000 725,000

At the Balance Sheet date the bank loan was secured by a fixed and floating charge over the assets of the LLP including the freehold property known as 45 Oakfield Road, Bristol BS8 2AX.

Loan finance was made available by the lender for a period of 5 years until April 2024 and, since the end of the financial year to the 31st March 2024, the Loan finance has been renewed for a further period of 5 years until April 2029.

In line with the requirements of the the lender a valuation of the property was undertaken by CSquared, Chartered Surveyors in January 2024. The property's market value in January 2024 was £1,715,000 assuming vacant possession.

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Although falling due, the members have indicated that there is no intention to withdraw significant amounts owed to members in respect of profits within the foreseeable future.

7. RELATED PARTY DISCLOSURES

The business rents offices to Westend Investments ( Clifton ) Ltd which is a related party to the LLP as a member of the LLP is a director in that company.

The rent charged to the business was £15,955 for the year ( 2022 - £14,772 ).

8. ULTIMATE CONTROLLING PARTY

In the opinion of the members no one individual member exercises overall control of the company.