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REGISTERED NUMBER: OC367010 (England and Wales)












AL&C LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






AL&C LLP (REGISTERED NUMBER: OC367010)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 5

AL&C LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mrs A L Boobyer
Mrs A C Cooke





REGISTERED OFFICE: Greenacres
Laleston
Bridgend
CF32 0HN





REGISTERED NUMBER: OC367010 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

AL&C LLP (REGISTERED NUMBER: OC367010)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,161,517 2,685,695

CURRENT ASSETS
Debtors 5 38,103 68,136
Cash at bank 110,536 829
148,639 68,965
CREDITORS
Amounts falling due within one year 6 87,346 27,560
NET CURRENT ASSETS 61,293 41,405
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,222,810 2,727,100

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

2,222,810

2,727,100

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 2,222,810 2,727,100

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 3 October 2024 and were signed by:





Mrs A C Cooke - Designated member

AL&C LLP (REGISTERED NUMBER: OC367010)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

AL&C LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rent receivable, and is accounted for on an accruals basis. All turnover is exclusive of VAT and trade discounts.

The turnover of the LLP is wholly attributable to the principal activities and arises entirely within the United Kingdom.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

AL&C LLP (REGISTERED NUMBER: OC367010)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,685,695
Disposals (524,178 )
At 31 March 2024 2,161,517
NET BOOK VALUE
At 31 March 2024 2,161,517
At 31 March 2023 2,685,695

The investment properties are currently held at cost valuation in Financial Statements.

The Members have considered the current fair value held in the financial statements and are satisfied that any difference in this valuation to current market value is not considered materially sufficient to adjust in these financial statements.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,700 34,538
Other debtors 23,403 33,598
38,103 68,136

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 72,308 1,117
Taxation and social security - 1,805
Other creditors 15,038 24,638
87,346 27,560

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 57,810 62,100
Capital account 2,165,000 2,665,000
2,222,810 2,727,100

Falling due within one year 2,222,810 2,727,100

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of Members' other interests

ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
AL&C LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of AL&C LLP for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of AL&C LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AL&C LLP and state those matters that we have agreed to state to the members of AL&C LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AL&C LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that AL&C LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AL&C LLP. You consider that AL&C LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AL&C LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


3 October 2024