REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
EVER PROPERTY LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
EVER PROPERTY LLP |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Reconciliation of Members' Interests | 6 |
Notes to the Financial Statements | 8 |
EVER PROPERTY LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Tax Advisers, Accountants |
and Business Consultants |
Vantage Point House |
Silverhills Road |
Decoy Industrial Estate |
Newton Abbot |
Devon |
TQ12 5ND |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property rental business. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £21,841 (2023 - £20,234 profit). |
MEMBERS' INTERESTS |
During the period members receive drawings representing payments on account of profits which may be allocated to them. The amount of such drawings is agreed during the year immediately prior to the draw down, taking into account the anticipated cash needs of the LLP, and may be reclaimed from members until such time as profits have been allocated to them. |
Profits are determined during the finalisation of the accounts, and are then allocated to members. |
The total cumulative balances of drawings, funds introduced and allocated profits for the members are included in 'amounts due from members' within debtors where drawings exceed funds introduced and allocated profits, or in 'loans and other debts due to members' where allocated profits and funds introduced exceed drawings. |
Capital requirements are determined by the designated members and are reviewed at least annually. The requirement of the proportion of each members subscription to that capital is agreed at the time of subscription. |
ON BEHALF OF THE MEMBERS: |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
£ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT |
Interest receivable and similar income |
28,961 | 28,243 |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 3,104 | 10,762 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 8 | 3,104 | 10,762 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 3,104 | 10,762 |
Amounts due from members | 5 | (38,934 | ) | (49,555 | ) |
(35,830 | ) | (38,793 | ) |
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. |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 10,762 |
Amount due from members | (49,555 | ) |
Balance at 1 April 2023 | - | (38,793 | ) | (38,793 | ) |
Profit for the financial year available for discretionary division among members |
21,841 |
- |
21,841 |
Members' interests after profit for the year |
21,841 |
(38,793 |
) |
(16,952 |
) |
Other divisions of profit | (21,841 | ) | 21,841 | - |
Introduced by members | - | 312 | 312 |
Drawings on account and distributions of profit |
- |
(19,190 |
) |
(19,190 |
) |
Amount due to members | 3,104 |
Amount due from members | (38,934 | ) |
Balance at 31 March 2024 | - | (35,830 | ) | (35,830 | ) |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 10,448 |
Amount due from members | (59,586 | ) |
Balance at 1 April 2022 | - | (49,138 | ) | (49,138 | ) |
Profit for the financial year available for discretionary division among members |
20,234 |
- |
20,234 |
Members' interests after profit for the year |
20,234 |
(49,138 |
) |
(28,904 |
) |
Other divisions of profit | (20,234 | ) | 20,234 | - |
Introduced by members | - | 312 | 312 |
Drawings on account and distributions of profit |
- |
(10,201 |
) |
(10,201 |
) |
Amount due to members | 10,762 |
Amount due from members | (49,555 | ) |
Balance at 31 March 2023 | - | (38,793 | ) | (38,793 | ) |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Ever Property 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 as rents receivable on an accruals basis. |
Tangible fixed assets |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts due from members | 38,934 | 49,555 |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Accrued expenses |
EVER PROPERTY LLP (REGISTERED NUMBER: OC417123) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors | 868,844 | 868,844 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 3,104 | 10,762 |
Falling due within one year | 3,104 | 10,762 |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a 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'. |