Limited Liability Partnership Registration No. OC393776 (England and Wales)
95 Hackney Road LLP
Annual report and unaudited financial statements
For the year ended 30 June 2023
Pages for filing with registrar
95 HACKNEY ROAD LLP
95 Hackney Road LLP
CONTENTS
Page
Members' report
Balance sheet
1
Reconciliation of members' interests
2 - 3
Notes to the financial statements
4 - 6
95 HACKNEY ROAD LLP
95 Hackney Road LLP
BALANCE SHEET
AS AT 30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
3
1,210,026
1,210,026
Debtors
4
35,654
35,653
Cash at bank and in hand
11,324
18,088
1,257,004
1,263,767
Creditors: amounts falling due within one year
5
(364,270)
(358,470)
Net current assets
892,734
905,297
Creditors: amounts falling due after more than one year
6
(800,000)
(800,000)
Net assets attributable to members
92,734
105,297
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
42,425
54,988
Other amounts
50,309
50,309
92,734
105,297

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 30 June 2023 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 23 September 2024 and are signed on their behalf by:
23 September 2024
P Williams
Designated member
Limited Liability Partnership Registration No. OC393776
95 HACKNEY ROAD LLP
95 Hackney Road LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 JUNE 2023
- 2 -
Current financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2023
£
£
£
Amounts due to members
105,297
Members' interests at 1 July 2022
105,297
105,297
105,297
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
(16,863)
(16,863)
(16,863)
Result for the financial year available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the year
88,434
88,434
88,434
Introduced by members
4,300
4,300
4,300
Members' interests at 30 June 2023
92,734
92,734
92,734
95 HACKNEY ROAD LLP
95 Hackney Road LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
Prior financial year
DEBT
TOTAL
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other amounts
Total
Total
2022
£
£
£
Amounts due to members
136,329
Members' interests at 1 July 2021
136,329
136,329
136,329
Members' remuneration charged as an expense, including employment costs and retirement benefit costs
8,968
8,968
8,968
Result for the financial year available for discretionary division among members
-
-
-
Members' interests after loss and remuneration for the year
145,297
145,297
145,297
Drawings
(40,000)
(40,000)
(40,000)
Members' interests at 30 June 2022
105,297
105,297
105,297
95 HACKNEY ROAD LLP
95 Hackney Road LLP
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 4 -
1
Accounting policies
Limited liability partnership information

95 Hackney Road LLP is a limited liability partnership incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

 

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 2018, 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 the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts recoverable for the sale of investment properties, excluding value added tax.

 

Turnover represents rent receivable net of estate agent fees.

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
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 current liabilities.

95 HACKNEY ROAD LLP
95 Hackney Road LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

1.7
Equity instruments

Equity instruments issued by the limited liability partnership are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the limited liability partnership.

2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Stocks
2023
2022
£
£
Stocks
1,210,026
1,210,026
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
35,654
35,653
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,770
-
Other creditors
357,500
358,470
364,270
358,470
95 HACKNEY ROAD LLP
95 Hackney Road LLP
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
800,000
800,000

 

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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