REGISTERED NUMBER: |
Unaudited Financial Statements |
for the period |
11 January 2023 to 31 March 2024 |
for |
Smith One 2023 LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the period |
11 January 2023 to 31 March 2024 |
for |
Smith One 2023 LLP |
Smith One 2023 LLP (Registered number: OC445339) |
Contents of the Financial Statements |
for the period 11 January 2023 to 31 March 2024 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Smith One 2023 LLP |
General Information |
for the period 11 January 2023 to 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
22-28 Willow Street |
Accrington |
Lancashire |
BB5 1LP |
Smith One 2023 LLP (Registered number: OC445339) |
Abridged Balance Sheet |
31 March 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,860,933 |
Smith One 2023 LLP (Registered number: OC445339) |
Abridged Balance Sheet - continued |
31 March 2024 |
Notes | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
34,297 |
MEMBERS' OTHER INTERESTS |
Fair value reserve | 7 |
1,860,933 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 34,297 |
Members' other interests | 1,826,636 |
1,860,933 |
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 were approved by the members of the LLP and authorised for issue on |
Smith One 2023 LLP (Registered number: OC445339) |
Notes to the Financial Statements |
for the period 11 January 2023 to 31 March 2024 |
1. | STATUTORY INFORMATION |
Smith One 2023 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Revaluations |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 1,826,636 |
Cost | 93,364 |
1,920,000 |
Smith One 2023 LLP (Registered number: OC445339) |
Notes to the Financial Statements - continued |
for the period 11 January 2023 to 31 March 2024 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Bank loans |
The bank loans and mortgages are secured on the investment properties. |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members are repayable once all other liabilities have been met. |
7. | RESERVES |
Fair |
value |
reserve |
£ |
Revaluation in year |
At 31 March 2024 |
8. | RELATED PARTY DISCLOSURES |
Some of the bank loans were used to fund investment property purchases by Smith Two 2022 Limited, a company in which the members are directors and hold the majority of the shares. The amount due from Smith Two 2002 Limited at the balance sheet date amounted to £273,235 and is included within Debtors Amounts Due Within One Year. |