Registered No. OC361541 (England and Wales)
LOWLESS PROPERTY LLP
Unaudited accounts
for the year ended 30 March 2024
LOWLESS PROPERTY LLP
LLP Information
for the year ended 30 March 2024
Designated members
R DAVIES
Registered Number
OC361541 (England and Wales)
Registered Office
CRESWELL HOUSE
CRESSWELL QUAY
KILGETTY
PEMBROKESHIRE
SA68 0TE
Accountants
Easy Accounting Services Ltd
Unit 3
Narberth Bridge Business Park
Narberth
Pembrokeshire
SA67 8RA
LOWLESS PROPERTY LLP
Accountants' report
Accountants' report to the members of LOWLESS PROPERTY LLP on the preparation of the unaudited statutory financial statements for the year ended 30 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of
LOWLESS PROPERTY LLP for the year ended
30 March 2024 as set out on pages
4 -
6 from the LLP's accounting records and from information and explanations you have given us.
This report is made solely to the members of LOWLESS PROPERTY LLP, as a body, in accordance with the terms of our engagement letter dated 20 April 2023. Our work has been undertaken solely to prepare for your approval the financial statements of LOWLESS PROPERTY LLP and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LOWLESS PROPERTY LLP and its members as a body for our work or for this report.
It is your duty to ensure that LOWLESS PROPERTY LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LOWLESS PROPERTY LLP. You consider that LOWLESS PROPERTY 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 financial statements of LOWLESS PROPERTY 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 financial statements.
Easy Accounting Services Ltd
Unit 3
Narberth Bridge Business Park
Narberth
Pembrokeshire
SA67 8RA
30 April 2023
LOWLESS PROPERTY LLP
Statement of financial position
as at 30 March 2024
Tangible assets
415,378
845,290
Cash at bank and in hand
945
7,282
Creditors: amounts falling due within one year
(31,005)
(31,005)
Net current liabilities
(30,060)
(23,723)
Total assets less current liabilities
385,318
821,567
Creditors: amounts falling due after more than one year
(88,468)
(252,104)
Net assets attributable to members
296,850
569,463
Loans and other debts due to members
74,718
41,423
Members' capital classified as equity
222,132
528,040
Loans and other debts due to members
74,718
41,423
Members' other interests
222,132
528,040
For the year ending 30 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 13 May 2024.
R DAVIES
Designated member
Limited Liability Partnership Registration No. OC361541
LOWLESS PROPERTY LLP
Notes to the Accounts
for the year ended 30 March 2024
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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
LOWLESS PROPERTY LLP is a limited liability partnership, incorporated in England and Wales, registration number OC361541. Its registered office is CRESWELL HOUSE, CRESSWELL QUAY, KILGETTY, PEMBROKESHIRE, SA68 0TE.
3
Tangible fixed assets
Plant & machinery
Surplus on revaluation
308,246
4
Creditors: amounts falling due within one year
2024
2023
Trade creditors
31,005
31,005
5
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
88,468
252,104
LOWLESS PROPERTY LLP
Notes to the Accounts
for the year ended 30 March 2024
6
Loans and other debts due to members
2024
2023
Amounts due to members in respect of profits
74,718
41,423
Amounts falling due within one year
74,718
41,423
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).