Buckingham Road LLP OC316321 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true OC316321 2023-01-01 2023-12-31 OC316321 2023-12-31 OC316321 bus:SmallEntities 2023-01-01 2023-12-31 OC316321 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 OC316321 bus:FilletedAccounts 2023-01-01 2023-12-31 OC316321 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 OC316321 bus:PartnerLLP1 2023-01-01 2023-12-31 OC316321 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC316321 countries:AllCountries 2023-01-01 2023-12-31 OC316321 2022-01-01 2022-12-31 xbrli:pure

Registration number: OC316321

Buckingham Road LLP

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Buckingham Road LLP

(Registration number: OC316321)
Balance Sheet as at 31 December 2023

Note

2023
 £

2022
 £

Fixed assets

 

Investment property

3

10,020,000

9,615,000

Current assets

 

Debtors

4

23,921

121,809

Cash and short-term deposits

 

588,871

608,607

 

612,792

730,416

Creditors: Amounts falling due within one year

5

(56,416)

(68,159)

Net current assets

 

556,376

662,257

Total assets less current liabilities

 

10,576,376

10,277,257

Creditors: Amounts falling due after more than one year

6

(3,573,000)

(4,172,500)

Net assets attributable to members

 

7,003,376

6,104,757

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

493,619

-

Equity

 

Other reserves

 

6,509,757

6,104,757

   

7,003,376

6,104,757

Total members' interests

 

Loans and other debts due to members

 

493,619

-

Members' other interests

 

6,509,757

6,104,757

   

7,003,376

6,104,757

For the year ending 31 December 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, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

 

Buckingham Road LLP

(Registration number: OC316321)
Balance Sheet as at 31 December 2023

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.

The financial statements of Buckingham Road LLP (registered number OC316321) were approved by the Board and authorised for issue on 30 August 2024. They were signed on behalf of the limited liability partnership by:


Dome Developments (Highbury) Limited
Designated member

   
 

Buckingham Road LLP

Notes to the Financial Statements for the Year Ended 31 December 2023

1

Accounting policies

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.

General information and basis of accounting

The limited liability partnership is incorporated in the United Kingdom 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.

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.

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, net of value added tax and returns.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real
estate determined annually by the designated members. The designated members use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2022 - 0).

 

Buckingham Road LLP

Notes to the Financial Statements for the Year Ended 31 December 2023

3

Investment property

The value of investment property is £10,020,000 (2022 - £9,615,000).

The fair value of investment property is reviewed annually by the designated members.

There has been no valuation of investment property by an independent valuer.

The increase represents a fair value adjustment of £405,000 during the year.

4

Debtors

2023
 £

2022
 £

Other debtors

-

103,250

Prepayments and accrued income

23,921

18,559

23,921

121,809

5

Creditors: Amounts falling due within one year

2023
 £

2022
 £

Accruals and deferred income

53,277

65,587

Taxation and social security

3,139

2,572

56,416

68,159

6

Creditors: Amounts falling due after more than one year

2023
 £

2022
 £

Bank loan

3,573,000

4,172,500

Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the limited liability partnership:

2023
£

2022
£

Bank loan

3,573,000

4,172,500

The bank loan is wholly repayable within five years and is secured by legal charges on the entity's investment properties and other assets.