Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-042023-04-04The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-05falserental of a hotel property in Liverpool00truefalse OC380183 2022-04-05 2023-04-04 OC380183 2021-04-05 2022-04-04 OC380183 2023-04-04 OC380183 2022-04-04 OC380183 c:CurrentFinancialInstruments 2023-04-04 OC380183 c:CurrentFinancialInstruments 2022-04-04 OC380183 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-04 OC380183 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-04 OC380183 d:FRS102 2022-04-05 2023-04-04 OC380183 d:AuditExempt-NoAccountantsReport 2022-04-05 2023-04-04 OC380183 d:FullAccounts 2022-04-05 2023-04-04 OC380183 d:LimitedLiabilityPartnershipLLP 2022-04-05 2023-04-04 OC380183 d:PartnerLLP1 2022-04-05 2023-04-04 OC380183 d:PartnerLLP2 2022-04-05 2023-04-04 OC380183 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-04 OC380183 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-04-04 OC380183 c:FurtherSpecificReserve2ComponentTotalEquity 2023-04-04 OC380183 c:FurtherSpecificReserve2ComponentTotalEquity 2022-04-04 iso4217:GBP xbrli:pure

Registered number: OC380183









NORTH JOHN STREET LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 4 APRIL 2023

 
NORTH JOHN STREET LLP
 

INFORMATION




Designated Members

Golden Square Services 1 Limited
Golden Square Services 2 Limited

LLP registered number

OC380183

Registered office

Parcels Building14 Bird StreetLondonW1U 1BU

Bankers

HSBC Bank plc1 Castle StreetLiverpoolL2 4SW


 
NORTH JOHN STREET LLP
 

CONTENTS



Page
Members' Report
1
Members' Responsibilities Statement
2
Statement of Comprehensive Income
3
Balance Sheet
4 - 5
Reconciliation of Members' Interests
6
Notes to the Financial Statements
7 - 10


 
NORTH JOHN STREET LLP
 
  
MEMBERS' REPORT
FOR THE YEAR ENDED 4 APRIL 2023

The members present their annual report together with the unaudited financial statements of North John Street LLP (the "LLP") for the year ended 4 April 2023
 

Principal activities
 
 
The principal object of the LLP was the rental of a hotel property in Liverpool.
 
 
Designated Members
 
 
Golden Square Services 1 Limited and Golden Square Services 2 Limited were designated members of the LLP throughout the year.
 

 
Members' capital and interests
 
 
Each member's subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.
 
 
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits/(losses) are allocated and divided between members after finalisation of the financial statements.
 
Designated members are not entitled to drawings. In accordance with the Members' Agreement, drawings shall be made at the discretion of Ingenious Capital Management Limited ("the Operator"), the operator of the LLP.
 
 
Following a disposal of the hotel or the winding up of the LLP, any surplus assets of the LLP will be distributed amongst the members in accordance with the terms of the Members' Agreement.
 
No member shall be required to make any further funding available after their admission as a member (save to the extent of their liability on winding up).
 

Going concern
 
 
The LLP sold its investment property hotel on 3 December 2021 and the LLP is no longer trading. Once all debts are settled, the Members will consider the future of the business.
In preparing this report, the members have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
 
 
This report was approved by the members and signed on their behalf by: 




................................................
Duncan Reid, Director of Golden Square Services 1 Limited
Designated member



Date: 5 August 2024

Page 1

 
NORTH JOHN STREET LLP
 
 
MEMBERS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 4 APRIL 2023

The members are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law, (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law, as applied to LLPs, 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 for the LLP's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Limited Liability Partnership 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 to enable them to ensure that the financial statements comply with the Limited Liability Partnerships (Accounts and Audit) (Application of the Companies Act 2006) Regulations 2008They 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.

Page 2

 
NORTH JOHN STREET LLP
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 4 APRIL 2023

2023
2022
Note
£

  

Turnover
  
980
499,191

Gross profit
  
 
980
 
499,191

Administration Expenses
  
(10,056)
(16,825)

Operating (loss)/profit
  
 
(9,076)
 
482,366

Sale of investment property
  
-
2,571,639

Interest payable and similar charges
  
-
(279,876)

(Loss)/profit before tax
  
 
(9,076)
 
2,774,129

(Loss)/profit for the year before members' remuneration and profit shares available for discretionary division among members
  
 
(9,076)
 
2,774,129

There were no recognised gains and losses for 2023 or 2022 other than those included in the statement of comprehensive income.

There was no other comprehensive income for 2023 (2022: £nil)

The notes on pages 7 to 10 form part of these financial statements.

Page 3

 
NORTH JOHN STREET LLP
REGISTERED NUMBER: OC380183

BALANCE SHEET
AS AT 4 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 7 
100
100

  
100
100

Current assets
  

Debtors: amounts falling due within one year
 8 
502
118,532

Cash And Cash Equivalents
  
94,811
84,057

  
95,313
202,589

Creditors: Amounts Falling Due Within One Year
 10 
(522,572)
(620,772)

Net current liabilities
  
 
 
(427,259)
 
 
(418,183)

Total assets less current liabilities
  
(427,159)
(418,083)

  

Net liabilities
  
(427,159)
(418,083)


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
8,792,476
8,792,476

Other Reserves
  
(9,219,635)
(9,210,559)

  
 
(427,159)
 
(418,083)

  
(427,159)
(418,083)


Total members' interests
  

Members' other interests
  
(427,159)
(418,083)

  
(427,159)
(418,083)


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

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements were approved and authorised for issue by the members and were signed on their
Page 4

 
NORTH JOHN STREET LLP
REGISTERED NUMBER: OC380183
    
BALANCE SHEET (CONTINUED)
AS AT 4 APRIL 2023

behalf by: 




................................................
Duncan Reid, Director of Golden Square Services 1 Limited
Designated member

Date: 5 August 2024

The notes on pages 7 to 10 form part of these financial statements.

Page 5

 

 
NORTH JOHN STREET LLP


 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 4 APRIL 2023





EQUITY
Members' other interests
Members' capital (classified as equity)
Other reserves
Total

£
£
£

Balance at 5 April 2021 
8,792,476
(11,984,689)
(3,192,213)

Profit for the year available for discretionary division
 
-
2,774,130
2,774,130

Balance at 4 April 2022
8,792,476
(9,210,559)
(418,083)

Loss for the year available for discretionary division
 
-
(9,076)
(9,076)

Balance at 4 April 2023 
8,792,476
(9,219,635)
(427,159)



Page 6

 
NORTH JOHN STREET LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2023

1.


General information

North John Street LLP is a members limited liability partnership ("LLP") incorporated in England and Wales, UK and has a registered office address and LLP number as noted on the information page. The principal activity is as described in the members' report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

The LLP sold its investment property hotel on 3 December 2021 and the LLP is no longer trading. Once all debts are settled, the Members will consider the future of the business.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 7

 
NORTH JOHN STREET LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the LLP's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
There were no critical accounting judgements or key sources of estimations during the year.


4.


Employees

The entity has no employees other than directors.

The average monthly number of employees, excluding directors, during the year was 0 (2022 - 0).


5.


Information in relation to members

2023
2022
Number
Number
2023
2022
£
£


The average number of members receiving remuneration during the year was
2
50








6.


Income from investments

2023
2022
£
£

Income from fixed asset investments
-
2,571,639




Page 8

 
NORTH JOHN STREET LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2023

7.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 5 April 2022
100



At 4 April 2023
100





8.


Debtors

2023
2022
£
£


Other debtors
502
118,532

502
118,532



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
94,811
84,057

94,811
84,057



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
16,972
16,972

Accruals and deferred income
505,600
603,800

522,572
620,772


Page 9

 
NORTH JOHN STREET LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2023

11.


Related party transactions

Golden Square Services 1 Limited and Golden Square Services 2 Limited were appointed as the designated members of the LLP on incorporation.
Ingenious Capital Management Limited acts as the operator of the LLP. The LLP incurred a £nil (2022 -£nil) Annual Management Fee payable to Ingenious Capital Management Limited. The investment asset was sold in 2022, therefore all fees and loans were paid in the year.
Golden Square Services 1 Limited and Golden Square Services 2 Limited are wholly-owned subsidiaries of Freeshire Limited, which is itself a wholly-owned subsidiary of Fernlakes Limited. The Fernlakes Limited group is under the control of P A McKenna.


12.


Controlling party

In the opinion of the members there is no controlling party.

Page 10