REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 20 OCTOBER 2022 TO 31 MARCH 2024 |
FOR |
ASPLEY GROUP LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 20 OCTOBER 2022 TO 31 MARCH 2024 |
FOR |
ASPLEY GROUP LLP |
ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 20 October 2022 to 31 March 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
ASPLEY GROUP LLP |
GENERAL INFORMATION |
for the Period 20 October 2022 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
6 Partridge Lane |
Bromham |
Bedford |
Bedfordshire |
MK43 8PQ |
ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339) |
REPORT OF THE MEMBERS |
for the Period 20 October 2022 to 31 March 2024 |
The members present their report with the financial statements of the LLP for the period 20 October 2022 to 31 March 2024. |
INCORPORATION |
The LLP was incorporated on 20 October 2022 and commenced trading on 1 July 2023. |
CESSATION OF TRADING |
The LLP ceased trading on 1 August 2023. The LLP was then incorporated into a Limited company, Aspley Group Holdings Limited. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of property development and letting. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The profit for the period before members' remuneration and profit shares was £103,520. |
MEMBERS' INTERESTS |
Members' capital |
The LLP was financed through Members capital introduced. |
Members' drawings |
The overall policy for Members' drawings is to advance a proportion of the profit during the financial year, taking into account amounts due to settle Members' income tax liabilities. |
ON BEHALF OF THE MEMBERS: |
ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339) |
INCOME STATEMENT |
for the Period 20 October 2022 to 31 March 2024 |
£ |
TURNOVER |
Administrative expenses |
137,775 |
Other operating income |
OPERATING PROFIT |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339) |
BALANCE SHEET |
31 March 2024 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
9,520,875 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
9,520,875 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 9,520,875 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 20 October 2022 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Aspley Group LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Rental income |
Rental income from leases is credited to the Income Statement on a straight line basis over the term of the relevant lease. |
Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the asset is diminished. |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective method, less any impairment. |
Tangible fixed assets |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 period was NIL. |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
Reclassification/transfer | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 20 October 2022 to 31 March 2024 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
The LLP's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: North Common Farm, Woburn Road, Lidlington, Bedfordshire, MK430NN |
Nature of business: |
% |
Class of shares: | holding |
The properties were transferred to a UK incorporated company that is connected to the partners (Aspley Group Holdings Limited, CRN: 14445132) as part of the transfer of the entire assets & trade of a residential letting business. Therefore, the proceeds represent the estimated market value of the properties transferred at that date. The estimated market values were provided by an independent professional property valuation expert (Sherwill Drake Forbes). |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Reclassification/transfer | (16,315,000 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
£ |
Amounts owed to members in respect of profits | 9,520,875 |
Falling due within one year | 9,520,875 |
Designated Members capital accounts,are classified as debt. |