Silverfin false 31/12/2023 01/01/2023 31/12/2023 C.G. Fry and Son Limited 16/02/2018 Monart Spa Limited 16/02/2018 HRH William Arthur Phillip Louis Prince of Wales Duke of Cornwall acting by Alastair Martin 08/09/2022 06 September 2024 OC421083 2023-12-31 OC421083 bus:Director1 2023-12-31 OC421083 bus:Director2 2023-12-31 OC421083 bus:Director3 2023-12-31 OC421083 2022-12-31 OC421083 core:CurrentFinancialInstruments 2023-12-31 OC421083 core:CurrentFinancialInstruments 2022-12-31 OC421083 core:LandBuildings 2022-12-31 OC421083 core:OtherPropertyPlantEquipment 2022-12-31 OC421083 core:LandBuildings 2023-12-31 OC421083 core:OtherPropertyPlantEquipment 2023-12-31 OC421083 2023-01-01 2023-12-31 OC421083 bus:FullAccounts 2023-01-01 2023-12-31 OC421083 bus:SmallEntities 2023-01-01 2023-12-31 OC421083 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 OC421083 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC421083 bus:Director1 2023-01-01 2023-12-31 OC421083 bus:Director2 2023-01-01 2023-12-31 OC421083 bus:Director3 2023-01-01 2023-12-31 OC421083 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 OC421083 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-01-01 2023-12-31 OC421083 2022-01-01 2022-12-31 OC421083 core:LandBuildings 2023-01-01 2023-12-31 OC421083 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: OC421083 (England and Wales)

POUNDBURY SPA LLP

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

POUNDBURY SPA LLP

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

POUNDBURY SPA LLP

BALANCE SHEET

As at 31 December 2023
POUNDBURY SPA LLP

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 3,438,607 3,655,854
3,438,607 3,655,854
Current assets
Stocks 5 25,454 20,159
Debtors 6 25,227 21,221
Cash at bank and in hand 7 290,044 148,603
340,725 189,983
Creditors: amounts falling due within one year 8 ( 498,045) ( 426,840)
Net current liabilities (157,320) (236,857)
Total assets less current liabilities 3,281,287 3,418,997
Net assets attributable to members 3,281,287 3,418,997
Represented by
Loans and other debts due to members after more than one year
Other amounts 4,997,778 4,942,778
4,997,778 4,942,778
Members' other interests
Members' capital classified as equity 10 10
Other reserves (1,716,501) (1,523,791)
(1,716,491) (1,523,781)
3,281,287 3,418,997
Total members' interests
Loans and other debts due to members 4,997,778 4,942,778
Members' other interests (1,716,491) (1,523,781)
3,281,287 3,418,997

For the financial year ending 31 December 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of Poundbury Spa LLP (registered number: OC421083) were approved and authorised for issue by the Board of Directors on 06 September 2024. They were signed on its behalf by:

Monart Spa Limited
Designated member
POUNDBURY SPA LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 31 December 2023
POUNDBURY SPA LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 31 December 2023
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity) Other reserves Total Other amounts Total
£ £ £ £ £
Amounts due to members 4,942,778
Balance at 01 January 2022 10 (1,135,507) (1,135,497) 4,942,778 3,807,281
Loss for the financial year available for discretionary division among members 0 (388,284) (388,284) 0 (388,284)
Members' interest after loss for the financial year 10 (1,523,791) (1,523,781) 4,942,778 3,418,997
Amounts due to members 4,942,778
Balance at 31 December 2022 10 (1,523,791) (1,523,781) 4,942,778 3,418,997
Loss for the financial year available for discretionary division among members 0 (192,710) (192,710) 0 (192,710)
Members' interest after loss for the financial year 10 (1,716,501) (1,716,491) 4,942,778 3,226,287
Introduced by members 0 0 0 55,000 55,000
Amounts due to members 4,997,778
Balance at 31 December 2023 10 (1,716,501) (1,716,491) 4,997,778 3,281,287

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

POUNDBURY SPA LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
POUNDBURY SPA LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Poundbury Spa LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Litton Cheney, Dorchester, DT2 9AW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover 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.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Loans and other debts due to members

In the event of a winding up, members other reserves rank after unsecured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no formal restriction on the ability of the LLP to reduce the amount of members' other interests

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within
other reserves.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Plant and machinery etc. 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Pensions and other post retirement obligations

The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 19 19

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

2023 2022
Number Number
Average number of members during the financial year 3 3

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 4,247,344 48,803 4,296,147
At 31 December 2023 4,247,344 48,803 4,296,147
Accumulated depreciation
At 01 January 2023 625,653 14,640 640,293
Charge for the financial year 212,367 4,880 217,247
At 31 December 2023 838,020 19,520 857,540
Net book value
At 31 December 2023 3,409,324 29,283 3,438,607
At 31 December 2022 3,621,691 34,163 3,655,854

5. Stocks

2023 2022
£ £
Stocks 25,454 20,159

6. Debtors

2023 2022
£ £
Trade debtors 0 679
Other debtors 25,227 20,542
25,227 21,221

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 290,044 148,603

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 42,083 40,612
Other taxation and social security 50,994 36,295
Other creditors 404,968 349,933
498,045 426,840

9. Off Balance Sheet arrangements

The total amount of financial commitments not included in the balance sheet is £96,000 (2022:£211,200).