Registered number
OC393429
Tamid Zivah LLP Formerly That Space (Lancashire) LLP
Filleted Accounts
31 May 2023
Tamid Zivah LLP Formerly That Space (Lancashire) LLP
Registered number: OC393429
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,700,000 1,700,000
Current assets
Debtors 4 148,580 224,344
Cash at bank and in hand 1,013 3,222
149,593 227,566
Creditors: amounts falling due within one year 5 (478,790) (60,187)
#NAME? (329,197) 167,379
Total assets less current liabilities 1,370,803 1,867,379
Creditors: amounts falling due after more than one year 6 (786,789) (840,054)
#NAME? 584,014 1,027,325
Represented by:
Loans and other debts due to members 8 462,184 481,217
Members' other interests
Members' capital classified as equity 121,830 546,108
Other reserves - -
121,830 546,108
584,014 1,027,325
Total members' interests
Loans and other debts due to members 8 462,184 481,217
Members' other interests 121,830 546,108
584,014 1,027,325
For the year ended 31 May 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 22 May 2024 and signed on their behalf by:
Yimanu Limited
Designated member
Tamid Zivah LLP Formerly That Space (Lancashire) LLP
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Bases on Fair value
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2023 2022
Number Number
Average number of persons employed by the LLP 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2022 1,700,000
At 31 May 2023 1,700,000
Depreciation
At 31 May 2023 -
Net book value
At 31 May 2023 1,700,000
At 31 May 2022 1,700,000
4 Debtors 2023 2022
£ £
Trade debtors 144,360 143,371
Amounts due from members 150 76,903
Other debtors 4,070 4,070
148,580 224,344
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,606 9,606
Trade creditors 2,182 554
Amounts owed to ex-members 380,416 -
Other taxes and social security costs 35,011 17,945
Accruals 15,542 23,198
Other creditors 36,033 8,884
478,790 60,187
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 786,789 840,054
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 786,789 840,054
786,789 840,054
Secured bank loans 796,395 849,660
[Give an indication of the nature and form of the security for the bank loans]
8 Loans and other debts due to members 2023 2022
£ £
Loans from members 462,184 481,217
Amounts due to members in respect of profits - -
462,184 481,217
Amounts falling due within one year 462,184 481,217
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
9 Other information
Tamid Zivah LLP Formerly That Space (Lancashire) LLP is a limited liability partnership incorporated in England. Its registered office is:
Riverslea
Vale Road
Altrincham
WA14 3AE
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