REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
Sereal Properties LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
for |
Sereal Properties LLP |
Sereal Properties LLP (Registered number: OC344829) |
Contents of the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Sereal Properties LLP (Registered number: OC344829) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.12.22 |
Notes | £ | £ |
Fixed assets |
Investments | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
Net assets attributable to members | 199,866 | 191,382 |
Sereal Properties LLP (Registered number: OC344829) |
Balance Sheet - continued |
31 March 2024 |
31.3.24 | 31.12.22 |
Notes | £ | £ |
Loans and other debts due to members | 11 | 195,010 | 186,526 |
Members' other interests |
Revaluation reserve | 12 |
199,866 | 191,382 |
Total members' interests |
Loans and other debts due to members | 11 | 195,010 | 186,526 |
Members' other interests | 4,856 | 4,856 |
199,866 | 191,382 |
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. |
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 |
Sereal Properties LLP (Registered number: OC344829) |
Notes to the Financial Statements |
for the Period 1 January 2023 to 31 March 2024 |
1. | Statutory information |
Sereal Properties LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required. |
Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised. |
Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively. |
4. | Employee information |
The average number of employees during the period was NIL (2022 - NIL). |
Sereal Properties LLP (Registered number: OC344829) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
5. | Fixed asset investments |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
6. | Investment property |
Total |
£ |
Fair value |
At 1 January 2023 |
and 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 December 2022 |
The investment property was revalued at a fair value on 31st December 2013 by the partners. The partners consider this valuation to still be appropriate as at 31st March 2024. |
7. | Debtors: amounts falling due within one year |
31.3.24 | 31.12.22 |
£ | £ |
Trade debtors |
Other debtors |
8. | Creditors: amounts falling due within one year |
31.3.24 | 31.12.22 |
£ | £ |
Trade creditors |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
31.3.24 | 31.12.22 |
£ | £ |
Other creditors |
Included within creditors falling due after more than one year is an amount of £23,900 (2022: £36,063) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date. |
Sereal Properties LLP (Registered number: OC344829) |
Notes to the Financial Statements - continued |
for the Period 1 January 2023 to 31 March 2024 |
10. | Secured debts |
The following secured debts are included within creditors: |
31.3.24 | 31.12.22 |
£ | £ |
Bank loan | 61,977 | 70,775 |
The bank loan is secured on the freehold property included in the financial statements. |
11. | Loans and other debts due to members |
The loans and other debts due to members rank after other creditors for repayment. |
12. | Reserves |
Revaluation |
reserve |
£ |
At 1 January 2023 |
and 31 March 2024 |
Profit and loss account - This reserve records distributable retained earnings and accumulated losses. |