IRIS Accounts Production v24.2.0.383 OC423141 designated member 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4231412023-03-31OC4231412024-03-31OC4231412023-04-012024-03-31OC4231412022-03-31OC4231412022-04-012023-03-31OC4231412023-03-31OC423141ns15:EnglandWales2023-04-012024-03-31OC423141ns14:PoundSterling2023-04-012024-03-31OC423141ns10:PartnerLLP12023-04-012024-03-31OC423141ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC423141ns10:SmallEntities2023-04-012024-03-31OC423141ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC423141ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC423141ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC423141ns10:FullAccounts2023-04-012024-03-31OC423141ns10:PartnerLLP22023-04-012024-03-31OC423141ns10:RegisteredOffice2023-04-012024-03-31OC423141ns5:CurrentFinancialInstruments2024-03-31OC423141ns5:CurrentFinancialInstruments2023-03-31OC423141ns5:Non-currentFinancialInstruments2024-03-31OC423141ns5:Non-currentFinancialInstruments2023-03-31OC423141ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-31OC423141ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-31
REGISTERED NUMBER: OC423141 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SOUTHGATE OFFICE LLP

SOUTHGATE OFFICE LLP (REGISTERED NUMBER: OC423141)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTHGATE OFFICE LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr C Petrides
Mr T Tsirtsipis





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: OC423141 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

SOUTHGATE OFFICE LLP (REGISTERED NUMBER: OC423141)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,591,348 1,591,348

CURRENT ASSETS
Cash at bank 10,782 475

CREDITORS
Amounts falling due within one year 5 59,017 11,085
NET CURRENT LIABILITIES (48,235 ) (10,610 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,543,113

1,580,738

CREDITORS
Amounts falling due after more than one
year

6

930,513

950,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

612,600

630,738

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

138,333

156,471

MEMBERS' OTHER INTERESTS
Capital accounts 474,267 474,267
612,600 630,738

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 138,333 156,471
Members' other interests 474,267 474,267
612,600 630,738

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

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.

SOUTHGATE OFFICE LLP (REGISTERED NUMBER: OC423141)

BALANCE SHEET - continued
31 MARCH 2024


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

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 9 July 2024 and were signed by:





Mr C Petrides - Designated member

SOUTHGATE OFFICE LLP (REGISTERED NUMBER: OC423141)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Southgate Office LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,591,348
NET BOOK VALUE
At 31 March 2024 1,591,348
At 31 March 2023 1,591,348

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
VAT 2,707 3,335
Other creditors 7,310 7,750
Amount due to related company 49,000 -
59,017 11,085

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 930,513 950,000

SOUTHGATE OFFICE LLP (REGISTERED NUMBER: OC423141)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 138,333 156,471

Falling due within one year 138,333 156,471

Amount due to members of Southgate Office LLP (2024 ) £138,33 (2023 ) £ 156,471