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Registration number: OC312444

Marshall Land & Property Associates LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Marshall Land & Property Associates LLP

Contents

Limited liability partnership information

1

Accountants' Report

2

Financial Statements

3 to 9

Statement of Financial Position

3

Notes to the Financial Statements

5

 

Marshall Land & Property Associates LLP

Limited liability partnership information

Designated members

Ms M R Scanlan

Mr H D G Marshall
 

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Marshall Land & Property Associates LLP
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Marshall Land & Property Associates LLP for the year ended 31 March 2024 set out on pages 3 to 9 from the limited liability partnership's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the members of Marshall Land & Property Associates LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Marshall Land & Property Associates LLP and state those matters that we have agreed to state to the members of Marshall Land & Property Associates LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marshall Land & Property Associates LLP and its members as a body for our work or for this report.

It is your duty to ensure that Marshall Land & Property Associates LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Marshall Land & Property Associates LLP. You consider that Marshall Land & Property Associates LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Marshall Land & Property Associates LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

30 July 2024

 

Marshall Land & Property Associates LLP

(Registration number: OC312444)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,313

1,417

Current assets

 

Debtors

5

91,123

87,349

Cash and short-term deposits

 

23,270

32,008

 

114,393

119,357

Creditors: Amounts falling due within one year

6

(6,003)

(7,994)

Net current assets

 

108,390

111,363

Net assets attributable to members

 

109,703

112,780

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

76,203

79,280

Members’ other interests

 

Members' capital classified as equity

 

33,500

33,500

   

109,703

112,780

Total members' interests

 

Amounts due from members

 

(86,391)

(81,101)

Loans and other debts due to members

 

76,203

79,280

Equity

 

33,500

33,500

   

23,312

31,679

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

 

Marshall Land & Property Associates LLP

(Registration number: OC312444)
Statement of Financial Position as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

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

The financial statements of Marshall Land & Property Associates LLP (registered number OC312444) were approved by the Board and authorised for issue on 30 July 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Ms M R Scanlan
Designated member

.........................................
Mr H D G Marshall
Designated member

 
 

Marshall Land & Property Associates LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1 General information

Marshall Land & Property Associates LLP is incorporated and registered in England and Wales.

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG

The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Marshall Land & Property Associates LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

 

Marshall Land & Property Associates LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% on reducing balance

Fixtures and Fittings

25% on reducing balance

Computer Equipment

25% on reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Marshall Land & Property Associates LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023 - 0).

 

Marshall Land & Property Associates LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Tangible fixed assets

Plant and machinery
 £

Fixtures and fittings
 £

Office equipment
 £

Total
£

Cost

At 1 April 2023

604

1,182

14,954

16,740

Additions

-

-

292

292

At 31 March 2024

604

1,182

15,246

17,032

Depreciation

At 1 April 2023

600

1,146

13,577

15,323

Charge for the year

1

9

386

396

At 31 March 2024

601

1,155

13,963

15,719

Net book value

At 31 March 2024

3

27

1,283

1,313

At 31 March 2023

4

36

1,377

1,417

5

Debtors

2024
 £

2023
 £

Trade debtors

1,590

2,955

Amount due from members

86,391

81,101

Prepayments and accrued income

3,142

3,293

Total current trade and other debtors

91,123

87,349

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

61

595

Other creditors

-

570

Accruals and deferred income

4,885

4,885

Taxation and social security

1,057

1,944

6,003

7,994

7

Related party transactions

At the Statement of Financial Position date, H D G Marshall owed the company £86,391 (2023 : £81,101).

 

Marshall Land & Property Associates LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

8

Ultimate controlling party

The LLP throughout the current year was under the control of the member H D G Marshall.