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REGISTERED NUMBER: OC396259
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Unaudited Financial Statements
30 June 2023
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Financial Statements
Year ended 30th June 2023
Contents
Page
Members' report
1
Statement of comprehensive income
3
Statement of financial position
4
Reconciliation of members' interests
5
Notes to the financial statements
7
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Members' Report
Year ended 30th June 2023
The members present their report and the unaudited financial statements of the LLP for the year ended 30 June 2023 .
Principal activities
The principal activity of the company during the year was investment in an LLP engaged inproperty investment.
Designated members
The designated members who served the LLP during the year were as follows:
Boultbee Estates Limited
Rokibo Limited
ZMR Business Consultants Limited
Groom Properties Limited
Cowrie Properties Limited
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
This report was approved by the members on 12 March 2024 and signed on behalf of the members by:
L.Roberts;Director Boultbee Estates Limited
Registered office:
60 St Georges Place
Cheltenham
GL50 3PN
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Statement of Comprehensive Income
Year ended 30th June 2023
Period from
Year to
1 Jan 21 to
30 Jun 23
30 Jun 22
Note
£
£
Other operating expenses
16
----
----
Operating loss
( 16)
Income from other fixed asset investments
( 4,216)
----
-------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members
(4,232)
----
-------
All the activities of the LLP are from continuing operations.
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Represented by:
Loans and other debts due to members
Other amounts
----
----
Members' other interests
Other reserves
----
----
----
----
Total members' interests
Loans and other debts due to members
Members' other interests
----
----
----
----
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30th June 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 12 March 2024 , and are signed on their behalf by:
L.Roberts;Director Boultbee Estates Limited
Registered number: OC396259
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Reconciliation of Members' Interests
Year ended 30th June 2023
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total 2023
£
£
£
£
£
Balance at 1st July 2022
Profit for the financial year available for discretionary division among members
----
----
----
----
----
Members' interests after profit for the year
Drawings
----
----
----
----
----
Balance at 30th June 2023
----
----
----
----
----
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Reconciliation of Members' Interests (continued)
Year ended 30th June 2023
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total 2022
£
£
£
£
£
Balance at 1st January 2021
50,229
50,229
50,229
Loss for the financial period available for discretionary division among members
(4,232)
(4,232)
(4,232)
-------
-------
--------
--------
--------
Members' interests after loss for the period
(4,232)
(4,232)
50,229
50,229
45,997
Other division of profits
4,232
4,232
(4,232)
(4,232)
Drawings
(45,997)
(45,997)
(45,997)
-------
-------
--------
--------
--------
Balance at 30th June 2022
-------
-------
--------
--------
--------
Boultbee Brooks (Lamb Walk 2) Limited Liability Partnership
Notes to the Financial Statements
Year ended 30th June 2023
1.
General information
The LLP is registered in England and Wales.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The LLP has fulfilled its purpose and will be dissolved.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Financial instruments
Financial assets and liabilities are accounted for on a amortised cost basis.