Registered number
OC320470
J3SR llp
Filleted Accounts
31 March 2024
J3SR llp
Registered number: OC320470
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 183,556 183,556
Investments 4 200 200
183,756 183,756
Current assets
Debtors 5 782,665 781,005
Cash at bank and in hand 21,872 13,660
804,537 794,665
Creditors: amounts falling due within one year 6 (22,800) (24,900)
Net current assets 781,737 769,765
Total assets less current liabilities 965,493 953,521
Creditors: amounts falling due after more than one year 7 (318,416) (335,897)
Net assets attributable to members 647,077 617,624
Represented by:
Loans and other debts due to members 9 646,077 616,624
Members' other interests
Members' capital classified as equity 1,000 1,000
647,077 617,624
Total members' interests
Loans and other debts due to members 9 646,077 616,624
Members' other interests 1,000 1,000
647,077 617,624
For the year ended 31 March 2024 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 8 August 2024 and signed on their behalf by:
Mrs S Jooma Mr R M Shah
Designated member Designated member
J3SR llp
Notes to the Accounts
for the year ended 31 March 2024
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 over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 183,556
At 31 March 2024 183,556
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 183,556
At 31 March 2023 183,556
4 Fixed asset investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 200
At 31 March 2024 200
5 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest 779,405 779,405
Other debtors 3,260 1,600
782,665 781,005
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,000 22,400
Other creditors 2,800 2,500
22,800 24,900
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 318,416 335,897
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 338,416 358,297
[Give an indication of the nature and form of the security for the bank loans]
9 Loans and other debts due to members 2024 2023
£ £
Members capital classified as debt 646,077 616,624
Amounts falling due within one year 646,077 616,624
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
10 Other information
J3SR llp is a limited liability partnership incorporated in England. Its registered office is:
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