Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
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3,438,607 | 3,655,854 | |||
Current assets | ||||
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand | 7 |
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340,725 | 189,983 | |||
Creditors: amounts falling due within one year | 8 | (
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Net current liabilities | (157,320) | (236,857) | ||
Total assets less current liabilities | 3,281,287 | 3,418,997 | ||
Net assets attributable to members |
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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 |
Members' responsibilities:
The financial statements of Poundbury Spa LLP (registered number:
Monart Spa Limited
Designated member |
EQUITY Members' other interests |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |||
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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
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.
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 £.
consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
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
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.
Land and buildings |
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Plant and machinery etc. |
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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.
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.
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.
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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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 |
Land and buildings | Plant and machinery etc. | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2023 |
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At 31 December 2023 |
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Accumulated depreciation | |||||
At 01 January 2023 |
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Charge for the financial year |
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At 31 December 2023 |
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Net book value | |||||
At 31 December 2023 |
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At 31 December 2022 |
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£ | £ | ||
Stocks |
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£ | £ | ||
Trade debtors |
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Other debtors |
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£ | £ | ||
Cash at bank and in hand |
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£ | £ | ||
Trade creditors |
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Other taxation and social security |
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Other creditors |
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