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REGISTERED NUMBER: OC347343 (England and Wales)















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: Lord K F Bilimoria
Lady L H Bilimoria





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: OC347343 (England and Wales)





ACCOUNTANTS: PSJ Alexander & Co
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:

Lord K F Bilimoria
Lady L H Bilimoria

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:





Lord K F Bilimoria - Designated member


31st July 2024

BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST JULY 2023

2023 2022
Notes £    £   

TURNOVER 357,488 430,741

Administrative expenses 348,957 454,685
OPERATING PROFIT/(LOSS) 4 8,531 (23,944 )

Interest receivable and similar income 562 24
9,093 (23,920 )

Interest payable and similar expenses 88,566 41,802
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(79,473




)




(65,722




)

BILIMORIA & BILIMORIA LLP (REGISTERED NUMBER: OC347343)

BALANCE SHEET
31ST JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 24,293 49,575

CURRENT ASSETS
Debtors 6 682,647 680,342
Cash at bank 500 4,359
683,147 684,701
CREDITORS
Amounts falling due within one year 7 40,825 56,228
NET CURRENT ASSETS 642,322 628,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

666,615

678,048

CREDITORS
Amounts falling due after more than one year 8 586,615 608,048
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 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 31st July 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.

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

The financial statements were approved by the members of the LLP and authorised for issue on 31st July 2024 and were signed by:





Lord K F Bilimoria - Designated member

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance

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 3 (2022 - 3 ) .

4. OPERATING PROFIT/(LOSS)

The operating profit (2022 - operating loss) is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 805 1,600

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 160,324
DEPRECIATION
At 1st August 2022 110,749
Charge for year 25,282
At 31st July 2023 136,031
NET BOOK VALUE
At 31st July 2023 24,293
At 31st July 2022 49,575

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 95,311
DEPRECIATION
At 1st August 2022 48,955
Charge for year 24,477
At 31st July 2023 73,432
NET BOOK VALUE
At 31st July 2023 21,879
At 31st July 2022 46,356

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 11,281 35,768
Other debtors 671,366 644,574
682,647 680,342

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 9,000 9,000
Hire purchase contracts 9,375 8,853
Trade creditors 4,828 6,750
Taxation and social security 13,563 15,565
Other creditors 4,059 16,060
40,825 56,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 20,250 32,308
Hire purchase contracts 47,365 56,740
Other creditors 519,000 519,000
586,615 608,048

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.