Registered number
OC438752
TONG & AN PROSPECT LLP
Filleted Accounts
31 March 2023
TONG & AN PROSPECT LLP
Registered number: OC438752
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 218,973 221,964
Current assets
Debtors 4 - 2,480
Creditors: amounts falling due within one year 5 (1,697) (840)
Net current (liabilities)/assets (1,697) 1,640
Total assets less current liabilities 217,276 223,604
Net assets attributable to members 217,276 223,604
Represented by:
Members' other interests
Members' capital classified as equity 78,690 83,003
Revaluation reserve 140,601 140,601
Other reserves (2,015) -
217,276 223,604
217,276 223,604
Total members' interests
Members' other interests 217,276 223,604
217,276 223,604
For the period ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 17 July 2024 and signed on their behalf by:
F Tong
Designated member
TONG & AN PROSPECT LLP
Notes to the Accounts
for the period from 1 September 2022 to 31 March 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 September 2022 210,000 21,265 231,265
At 31 March 2023 210,000 21,265 231,265
Depreciation
At 1 September 2022 - 9,301 9,301
Charge for the period - 2,991 2,991
At 31 March 2023 - 12,292 12,292
Net book value
At 31 March 2023 210,000 8,973 218,973
At 31 August 2022 210,000 11,964 221,964
4 Debtors 2023 2022
£ £
Other debtors - 2,480
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 1,697 840
6 Revaluation reserve 2023 2022
£ £
At 1 September 2022 140,601 140,601
At 31 March 2023 140,601 140,601
7 Other information
TONG & AN PROSPECT LLP is a limited liability partnership incorporated in England. Its registered office is:
4 North End, 
Bassingbourn, 
Royston, 
England,
SG8 5NX
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