Registered number: OC433666
REGEN PROPERTIES LLP
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD FROM 1 APRIL 2023 TO 31 DECEMBER 2023
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CONTENTS
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Reconciliation of members' interests
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Notes to the financial statements
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REGEN PROPERTIES LLP
REGISTERED NUMBER:OC433666
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BALANCE SHEET
AS AT 31 DECEMBER 2023
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Other reserves classified as equity
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Loans and other debts due to members
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1
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REGEN PROPERTIES LLP
REGISTERED NUMBER:OC433666
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity 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.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf by:
D C Goldberg on behalf of Regional Square Properties Limited
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The notes on pages 4 to 6 form part of these financial statements.
2
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RECONCILIATION OF MEMBERS' INTERESTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
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EQUITY
Members' other interests
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DEBT
Loans and other debts due to members less any amounts due from members in debtors
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Loss for the year available for discretionary division among members
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Members' interests after loss for the year
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Amounts introduced by members
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Loss for the period available for discretionary division among members
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Members' interests after loss for the year
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Balance at 31 December 2023
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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.
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3
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Regen Properties LLP is a limited liability partnership, registered in England and Wales, registration number OC433666. The registered office address is 167 Broadhurst Gardens, London, NW6 3AU.
The principal activity of the LLP is that of buying and selling properties.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The LLP's functional and presentational currency is pound sterling.
The following principal accounting policies have been applied:
On the basis of information and enquiries that are pertinent to the LLP's circumstances and which the members believe to be adequate, it is appropriate to continue to treat the LLP as a going concern. In particular the members believe that adequate cash resources will be available to cover the LLP's requirements for working capital for at least twelve months from the date of signing the financial statements.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Short-term debtors are measured at transaction price, less any impairment.
4
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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The entity has no employees.
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Prepayments and accrued income
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Cash and cash equivalents
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5
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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Post balance sheet events
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After the period end, the LLP sold the property held within stock.
6
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