Staunton Property Investments LLP OC367986 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is investment in a commercial property investment LLP. Digita Accounts Production Advanced 6.30.9574.0 OC367986 2022-12-01 2023-11-30 OC367986 2023-11-30 OC367986 core:CurrentFinancialInstruments 2023-11-30 OC367986 bus:SmallEntities 2022-12-01 2023-11-30 OC367986 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 OC367986 bus:FilletedAccounts 2022-12-01 2023-11-30 OC367986 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 OC367986 bus:RegisteredOffice 2022-12-01 2023-11-30 OC367986 bus:PartnerLLP1 2022-12-01 2023-11-30 OC367986 bus:PartnerLLP2 2022-12-01 2023-11-30 OC367986 bus:PartnerLLP3 2022-12-01 2023-11-30 OC367986 bus:PartnerLLP4 2022-12-01 2023-11-30 OC367986 bus:LimitedLiabilityPartnershipLLP 2022-12-01 2023-11-30 OC367986 countries:AllCountries 2022-12-01 2023-11-30 OC367986 2021-12-01 2022-11-30 OC367986 2022-11-30 OC367986 core:CurrentFinancialInstruments 2022-11-30 iso4217:GBP xbrli:pure

Staunton Property Investments LLP

Annual Report and Unaudited Financial Statements
Year Ended 30 November 2023

Registration number: OC367986

 

Staunton Property Investments LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 7

Balance Sheet

2

Reconciliation of Members’ Interests

4

Notes to the Financial Statements

5

 

Staunton Property Investments LLP

Limited liability partnership information

Designated members

Mr H Boulter

Mr J Rooth
 

Members

Mrs J Boulter

Mrs E Rooth
 

Registered office

Culver Combe Farm
Chudleigh
Devon
TQ13 0EL

Accountants

Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

 

Staunton Property Investments LLP

Balance Sheet

30 November 2023

Note

2023
 £

2022
 £

Fixed assets

 

Investments

3

185,515

185,515

Current assets

 

Debtors

4

862,875

865,876

Cash and short-term deposits

 

1,425

2,903

 

864,300

868,779

Creditors: Amounts falling due within one year

5

(1,050)

(1,050)

Net current assets

 

863,250

867,729

Net assets attributable to members

 

1,048,765

1,053,244

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

1,043,765

1,048,244

Members’ other interests

 

Members' capital classified as equity

 

5,000

5,000

   

1,048,765

1,053,244

Total members' interests

 

Loans and other debts due to members

 

1,043,765

1,048,244

Equity

 

5,000

5,000

   

1,048,765

1,053,244

 

Staunton Property Investments LLP

Balance Sheet

30 November 2023 (continued)

For the year ending 30 November 2023 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships.

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.

These financial statements have been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006 as applied to small limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 as modified by the Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016, and the option not to file the Profit and Loss Account has been taken.

The financial statements of Staunton Property Investments LLP (registered number OC367986) were approved by the Board and authorised for issue on 19 August 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr H Boulter
Designated member

.........................................
Mr J Rooth
Designated member

 

Staunton Property Investments LLP

Reconciliation of Members’ Interests

30 November 2023

 

Equity

Loans and other debts due to/(from) members

 

Members' capital
£

Members' capital classified as a liability
£

Total
2023
 £

Members' interest at 1 December 2022

5,000

1,048,244

1,053,244

Members' remuneration charged as an expense

-

(4,478)

(4,478)

Members' interests after loss for the year

5,000

1,043,766

1,048,766

 

Equity

Loans and other debts due to/(from) members

 

Members' capital
£

Members' capital classified as a liability
£

Total
2023
 £

Members' interest at 1 December 2021

5,000

1,769,178

1,774,178

Members' remuneration charged as an expense as restated

-

34,373

34,373

Members' interests after loss for the year

5,000

1,803,551

1,808,551

Drawings (including tax payments)

-

(755,307)

(755,307)

At 30 November 2022

5,000

1,048,244

1,053,244

 

Staunton Property Investments LLP

Notes to the Financial Statements

Year Ended 30 November 2023

1

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 and in accordance with the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued January 2017 (SORP 2017).

There are no material departures from FRS102.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.

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 Staunton Property Investments 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.

Members' remuneration and division of profits

Profits are automatically available for division between partners. They are therefore shown as "Members' remuneration charged as an expense" in the Profit and Loss Account in the relevant year. To the extent that they remain unpaid at the year end, they are shown within "Loans and other debts due to members" in the Balance Sheet.

Drawings against these profits are made in accordance with a schedule annually agreed between the members.

Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interest'.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

 

Staunton Property Investments LLP

Notes to the Financial Statements (continued)

Year Ended 30 November 2023

1

Accounting policies (continued)

Financial instruments

Recognition and Measurement

Financial instruments are recognised when the LLP becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the LLP's obligations are discharged, expire or are cancelled.

The LLP holds the following financial instruments:

- Short term basic financial assets and liabilities

Basic financial assets comprise short term trade and other debtors, and cash and bank balances. Basic financial liabilities comprise short term trade and other creditors as well as short term loans. Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried a the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 4 (2022 - 4).

 

Staunton Property Investments LLP

Notes to the Financial Statements (continued)

Year Ended 30 November 2023

3

Investments held as fixed assets

2023
 £

2022
 £

Other investments

185,515

185,515

Other investments

Unlisted investments
£

Total
£

Cost

At 1 December 2022

185,515

185,515

At 30 November 2023

185,515

185,515

Net book value

At 30 November 2023

185,515

185,515

At 30 November 2022

185,515

185,515

4

Debtors

2023
 £

2022
 £

Other debtors

862,875

865,876

Total current trade and other debtors

862,875

865,876

5

Creditors: Amounts falling due within one year

2023
 £

2022
 £

Accruals and deferred income

1,050

1,050

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interests.