Registered number
OC368918
ESF Two LLP
Accounts
30 September 2023
ESF Two LLP
LLP Information
Designated members
Ashley de Grey Osborn
Peter Ded Grey Osborn
Edwin Seaman Farms Ltd
Accountants
Cambridge Financial Services Ltd
Milton Hall
Ely Road
Cambridgshire
CB24 6WZ
Registered office
25 Lower Road
Castle Rising
Norfolk
PE31 6AD
Registered number
OC368918
ESF Two LLP
Profit and Loss Account
for the period from 1 April 2022 to 30 September 2023
2023 2022
£ £
Distribution costs - (2,550)
Administrative expenses (51,672) 1,500
Operating loss (51,672) (1,050)
Loss before members' remuneration and profit share (51,672) (1,050)
Loss for the period available for discretionary division among members (51,672) (1,050)
ESF Two LLP
Registered number: OC368918
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,099,918 1,099,918
Current assets
Debtors 4 3,787 300
Creditors: amounts falling due within one year 5 (56,259) (1,000)
Net current liabilities (52,472) (700)
Total assets less current liabilities 1,047,446 1,099,218
Net assets attributable to members 1,047,446 1,099,218
Represented by:
Loans and other debts due to members 6 765,518 765,618
Members' other interests
Other reserves (51,672) (1,050)
713,846 764,568
Total members' interests
Loans and other debts due to members 6 765,518 765,618
Members' other interests (51,672) (1,050)
713,846 764,568
For the period ended 30 September 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 10 November 2023 and signed on their behalf by:
Peter Howard-Jones for Edwin Seaman Farms Ltd
Designated member
ESF Two LLP
Notes to the Accounts
for the period from 1 April 2022 to 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Valued at period end
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2022 1,099,918
At 30 September 2023 1,099,918
Depreciation
At 30 September 2023 -
Net book value
At 30 September 2023 1,099,918
At 31 March 2022 1,099,918
4 Debtors 2023 2022
£ £
Trade debtors 3,787 300
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,000 1,000
Other creditors 55,259 -
56,259 1,000
6 Loans and other debts due to members 2023 2022
£ £
Loans from members 765,518 765,618
Amounts falling due within one year 765,518 765,618
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
ESF Two LLP is a limited liability partnership incorporated in England. Its registered office is:
25 Lower Road
Castle Rising
Norfolk
PE31 6AD
ESF Two LLP
Administrative expenses
for the period from 1 April 2022 to 30 September 2023
This schedule does not form part of the statutory accounts of the LLP
2023 2022
£ £
Advertising, promotion and entertainment 1,000 -
Legal and professional costs 50,672 -
Depreciation and loss/(profit) on sale - (1,500)
51,672 (1,500)
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