REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
OCEAN GATEWAY (2) LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
OCEAN GATEWAY (2) LLP |
OCEAN GATEWAY (2) LLP (REGISTERED NUMBER: OC399030) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Statement of Financial Position | 3 |
Notes to the Financial Statements | 4 |
OCEAN GATEWAY (2) LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
34-40 High Street |
Wanstead |
London |
E11 2RJ |
OCEAN GATEWAY (2) LLP (REGISTERED NUMBER: OC399030) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property investment and development. |
During 2023 the decision was made to reflect the service charges from the freeholder in the LLP accounts and to recharge these to the group company who operate from the site. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £343 (2022 - £NIL profit). |
MEMBERS' INTERESTS |
The Member's subscription to the capital of the LLP is determined by the member's share of the profit and is repayable following retirement from the LLP. |
There were no changes in members' capital in the period ended 31 December 2023. |
MEMBERS' RESPONSIBILITIES STATEMENT |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the members are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the LLP's auditors are unaware, and each member has taken all the steps that he ought to have taken as a member in order to make himself aware of any relevant audit information and to establish that the LLP's auditors are aware of that information. |
AUDITORS |
The auditors, THP Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE MEMBERS: |
OCEAN GATEWAY (2) LLP (REGISTERED NUMBER: OC399030) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,117,505 |
3,117,505 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 790,355 | 790,355 |
Revaluation reserve | 8 |
3,117,505 | 3,117,505 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 3,117,505 | 3,117,505 |
Amounts due from members | 6 | (92,630 | ) | (92,973 | ) |
3,024,875 | 3,024,532 |
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 Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
OCEAN GATEWAY (2) LLP (REGISTERED NUMBER: OC399030) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Ocean Gateway (2) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for services supplied, net of discounts and value added taxes. |
Revenue is recognised in the accounting period in which rents are receivable. |
Tangible fixed assets |
Long leasehold land is not depreciated. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Long |
leasehold |
land |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
During the previous year, the LLP has reclassified its long leasehold land from investment properties to tangible fixed assets, in order to reflect the permitted treatment under FRS102 16.4A. |
The previous revaluation of this land has also been transferred from amounts due to members in respect of profits to a revaluation reserve. |
OCEAN GATEWAY (2) LLP (REGISTERED NUMBER: OC399030) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts due from members | 92,630 | 92,973 |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2023 |
At 31 December 2023 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | ULTIMATE CONTROLLING PARTY |
The immediate parent company is Uniserve Holdings Limited, a company incorporated in England and Wales. |
The ultimate parent company is GB Global Holdco. Pte. Ltd, a company incorporated in Singapore. |
The largest group in the UK for which group accounts are prepared is headed by GB Europe Holdings Limited. A copy of the consolidated accounts may be obtained from Companies House. |
The ultimate controlling party is I R Liddell. |