Limited Liability Partnership registration number OC395968 (England and Wales)
JDTU INVESTMENTS LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
JDTU INVESTMENTS LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JDTU INVESTMENTS LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
779,000
761,000
Current assets
Debtors
4
650
-
Cash at bank and in hand
313
213
963
213
Creditors: amounts falling due within one year
5
(30,263)
(25,047)
Net current liabilities
(29,300)
(24,834)
Total assets less current liabilities
749,700
736,166
Creditors: amounts falling due after more than one year
6
(252,268)
(277,466)
Net assets attributable to members
497,432
458,700
Represented by:
Members' other interests
Members' capital classified as equity
372,618
351,886
Revaluation reserve
124,814
106,814
497,432
458,700

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 10 September 2024 and are signed on their behalf by:
10 September 2024
Mr J F Helas
Designated member
Limited Liability Partnership registration number OC395968 (England and Wales)
JDTU INVESTMENTS LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Limited liability partnership information

JDTU Investments LLP is a limited liability partnership incorporated in England and Wales. The registered office is Priors Lawn, East Knighton, Dorchester, Dorset, DT2 8LF.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rental income received excluding value added tax and is measured at fair value.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

JDTU INVESTMENTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

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 recognised in the profit and loss account.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Investment property
2024
£
Fair value
At 1 April 2023
761,000
Net gains or losses through fair value adjustments
18,000
At 31 March 2024
779,000
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2024
2023
£
£
Cost
654,186
654,186
Accumulated depreciation
-
-
Carrying amount
654,186
654,186
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
650
-
JDTU INVESTMENTS LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
28,763
23,547
Other creditors
1,500
1,500
30,263
25,047

The bank loan is secured by fixed charges over the LLP's freehold investment properties.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
252,268
277,466

The bank loan is secured by fixed charges over the LLP's freehold investment properties.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
133,189
165,962
7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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