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REGISTERED NUMBER: OC323689 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2023

FOR

BARNET O'BRIEN LLP

BARNET O'BRIEN LLP (REGISTERED NUMBER: OC323689)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BARNET O'BRIEN LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DESIGNATED MEMBERS: F E Barnet
D P O'Brien
K O'Brien





REGISTERED OFFICE: Suites 3 & 4 Pacific
Chambers
11-13 Victoria Street
Liverpool
Merseyside
L2 5QQ





REGISTERED NUMBER: OC323689 (England and Wales)





ACCOUNTANTS: John Kerr - Chartered Accountants
375 Eaton Road
West Derby
Liverpool
Merseyside
L12 2AH

BARNET O'BRIEN LLP (REGISTERED NUMBER: OC323689)

BALANCE SHEET
5 APRIL 2023

5.4.23 5.4.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 260,000 390,000

CURRENT ASSETS
Debtors 5 1,800 2,225
Cash at bank 40,947 7,662
42,747 9,887
CREDITORS
Amounts falling due within one year 6 24,685 28,184
NET CURRENT ASSETS/(LIABILITIES) 18,062 (18,297 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

278,062

371,703

CREDITORS
Amounts falling due after more than one year 7 138,960 152,010
NET ASSETS ATTRIBUTABLE TO
MEMBERS

139,102

219,693

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

168,883

264,365

MEMBERS' OTHER INTERESTS
Fair value reserve 10 (29,781 ) (44,672 )
139,102 219,693

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 168,883 264,365
Members' other interests (29,781 ) (44,672 )
139,102 219,693

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 5 April 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.

BARNET O'BRIEN LLP (REGISTERED NUMBER: OC323689)

BALANCE SHEET - continued
5 APRIL 2023


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

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 28 February 2024 and were signed by:





D P O'Brien - Designated member

BARNET O'BRIEN LLP (REGISTERED NUMBER: OC323689)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023


1. STATUTORY INFORMATION

Barnet O'Brien 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.

Investment property
Investment property is included at fair value. Gains and losses are recognised in the income statement and a transfer of the equivalent gain or loss is made to a fair value reserve.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2022 390,000
Disposals (130,000 )
At 5 April 2023 260,000
NET BOOK VALUE
At 5 April 2023 260,000
At 5 April 2022 390,000

Fair value at 5 April 2023 is represented by:
£   
Valuation in 2023 260,000

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

5.4.23 5.4.22
£    £   
Cost 289,781 434,672

Investment property was valued on a fair value basis on 5 April 2023 by the Designated Members .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.23 5.4.22
£    £   
Other debtors 1,800 2,225

BARNET O'BRIEN LLP (REGISTERED NUMBER: OC323689)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.23 5.4.22
£    £   
Bank loan 14,000 14,500
Trade creditors - 1,530
Taxation and social security 102 102
Other creditors 10,583 12,052
24,685 28,184

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
5.4.23 5.4.22
£    £   
Bank loan 138,960 152,010

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 76,460 92,210

8. SECURED DEBTS

The following secured debts are included within creditors:

5.4.23 5.4.22
£    £   
Bank loan 152,960 166,510

The bank loan is secured by a Mortgage Deed over the investment property.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members (other than members' capital classified as debt) rank equally with debts due to other unsecured creditors in a winding up.

10. RESERVES
Fair
value
reserve
£   
At 6 April 2022 (44,672 )
Property revaluation
adjustment 14,891
At 5 April 2023 (29,781 )