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REGISTERED NUMBER: OC330579 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

GLOCK, PALMER & WEST LLP

GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


GLOCK, PALMER & WEST LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DESIGNATED MEMBERS: Mr C Glock
Glock Limited





REGISTERED OFFICE: 26 Gransden Avenue
Hackney
London
E8 3QA





REGISTERED NUMBER: OC330579 (England and Wales)





ACCOUNTANTS: Robert Clow & Co
Chartered Accountants
Hartfield Place
40 - 44 High Street
Northwood
Middlesex
HA6 1BN

GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579)

ABRIDGED BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,200,000 1,200,000

CURRENT ASSETS
Debtors 23,500 12,942
Cash at bank 34,404 28,698
57,904 41,640
CREDITORS
Amounts falling due within one year 16,848 12,157
NET CURRENT ASSETS 41,056 29,483
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,241,056

1,229,483

LOANS AND OTHER DEBTS DUE TO
MEMBERS

5

528,747

517,174

MEMBERS' OTHER INTERESTS
Capital accounts 90,000 90,000
Revaluation reserve 6 622,309 622,309
1,241,056 1,229,483

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 528,747 517,174
Members' other interests 712,309 712,309
1,241,056 1,229,483

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 May 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.

GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


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 Balance Sheet for the year ended 31 May 2023 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 20 February 2024 and were signed by:





Mr C Glock - Designated member

GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Glock, Palmer & West 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 comprises the invoiced value of rents receivable.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 1,200,000
NET BOOK VALUE
At 31 May 2023 1,200,000
At 31 May 2022 1,200,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2013 472,310
Valuation in 2015 150,000
Cost 577,690
1,200,000

If investment property had not been revalued it would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 577,690 577,690

Investment property was valued on an open market basis on 31 May 2023 by the partners .

GLOCK, PALMER & WEST LLP (REGISTERED NUMBER: OC330579)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


5. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank after amounts due to other creditors.

6. RESERVES
Revaluation
reserve
£   
At 1 June 2022 622,309
At 31 May 2023 622,309