REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
for |
45 Oakfield Road LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Whetcombe Whey |
Ropers Lane |
Wrington |
Somerset |
BS40 5NH |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
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 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 |
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 |
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 |
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 |
Land and buildings | - |
Plant and machinery etc | - |
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 |
DEPRECIATION |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
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 |
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. |