REGISTERED NUMBER: |
BROMLEY HAYS PROPERTY LLP |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
REGISTERED NUMBER: |
BROMLEY HAYS PROPERTY LLP |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
BROMLEY HAYS PROPERTY LLP (REGISTERED NUMBER: OC377961) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BROMLEY HAYS PROPERTY LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Gibson House |
Hurricane Court |
Hurricane Close |
Stafford |
ST16 1GZ |
BROMLEY HAYS PROPERTY LLP (REGISTERED NUMBER: OC377961) |
BALANCE SHEET |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 207,322 | 200,433 |
BROMLEY HAYS PROPERTY LLP (REGISTERED NUMBER: OC377961) |
BALANCE SHEET - continued |
31 AUGUST 2023 |
2023 | 2022 |
Notes | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
142,069 |
135,180 |
MEMBERS' OTHER INTERESTS |
Revaluation reserve |
207,322 | 200,433 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 142,069 | 135,180 |
Members' other interests | 65,253 | 65,253 |
207,322 | 200,433 |
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. |
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 Profit and Loss Account has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
BROMLEY HAYS PROPERTY LLP (REGISTERED NUMBER: OC377961) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Bromley Hays Property 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 |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows: |
Rental income |
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term. |
Tangible fixed assets |
Computer equipment | - |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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. |
The investment property was valued at 31 August 2022 at a fair value of £200,000 by the members. In the opinion of the members the investment property is included at an amount that accords to its fair value at the balance sheet date. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
BROMLEY HAYS PROPERTY LLP (REGISTERED NUMBER: OC377961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Fair value at 31 August 2023 is represented by: |
£ |
Valuation in 2022 | 65,253 |
Cost | 134,747 |
200,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accruals and deferred income |
BROMLEY HAYS PROPERTY LLP (REGISTERED NUMBER: OC377961) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 142,069 | 135,180 |
Falling due within one year | 142,069 | 135,180 |
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |