REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023 |
FOR |
BILIMORIA & BILIMORIA LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2023 |
FOR |
BILIMORIA & BILIMORIA LLP |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
BILIMORIA & BILIMORIA LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Doughty Street |
London |
WC1N 2PH |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31ST JULY 2023 |
The members present their report with the financial statements of the LLP for the year ended 31st July 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of providing consultancy services, speaking fees and brand advice in UK, India and elsewhere. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £79,473 (2022 - £65,722 loss). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31ST JULY 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT/(LOSS) | 4 | ( |
) |
Interest receivable and similar income |
9,093 | (23,920 | ) |
Interest payable and similar expenses |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
BALANCE SHEET |
31ST JULY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
80,000 |
70,000 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
80,000 |
70,000 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 80,000 | 70,000 |
Amounts due from members | 6 | (546,854 | ) | (509,526 | ) |
(466,854 | ) | (439,526 | ) |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2023 |
1. | STATUTORY INFORMATION |
Bilimoria & Bilimoria 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | OPERATING PROFIT/(LOSS) |
The operating profit (2022 - operating loss) is stated after charging: |
2023 | 2022 |
£ | £ |
Depreciation - owned assets |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2022 |
and 31st July 2023 |
DEPRECIATION |
At 1st August 2022 |
Charge for year |
At 31st July 2023 |
NET BOOK VALUE |
At 31st July 2023 |
At 31st July 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1st August 2022 |
and 31st July 2023 |
DEPRECIATION |
At 1st August 2022 |
Charge for year |
At 31st July 2023 |
NET BOOK VALUE |
At 31st July 2023 |
At 31st July 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Loans-North Bridge Funding Ltd | 519,000 | 519,000 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 56,740 | 65,593 |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 80,000 | 70,000 |
Falling due within one year | 80,000 | 70,000 |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with other unsecured creditors of the company. |
There are no restrictions or limitations as such existing on the ability of the members to reduce the amount of 'Members' other interests'. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Lord & Lady K F Bilimoria. |