REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 31 May 2024 |
for |
Baybutt Properties LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1 March 2023 to 31 May 2024 |
for |
Baybutt Properties LLP |
Baybutt Properties LLP (Registered number: OC404537) |
Contents of the Financial Statements |
for the Period 1 March 2023 to 31 May 2024 |
Page |
General Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Baybutt Properties LLP |
General Information |
for the Period 1 March 2023 to 31 May 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Onward Chambers |
34 Market Street |
Hyde |
Cheshire |
SK14 1AH |
Baybutt Properties LLP (Registered number: OC404537) |
Abridged Balance Sheet |
31 May 2024 |
31.5.24 | 28.2.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
350,000 |
430,588 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
5 |
- |
80,588 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 350,000 | 350,000 |
350,000 | 430,588 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | - | 80,588 |
Members' other interests | 350,000 | 350,000 |
Amounts due from members | (350,064 | ) | - |
(64 | ) | 430,588 |
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. |
Baybutt Properties LLP (Registered number: OC404537) |
Abridged Balance Sheet - continued |
31 May 2024 |
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 |
Baybutt Properties LLP (Registered number: OC404537) |
Notes to the Financial Statements |
for the Period 1 March 2023 to 31 May 2024 |
1. | STATUTORY INFORMATION |
Baybutt Properties 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 |
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. |
Investment properties are revalued at the accounting date and the aggregate surplus or temporary deficit is recognised in the profit and loss account. A reserve transfer to the non distributable reserve account is then made. |
The Members consider that as these properties are not held for consumption but for investment, to depreciate them would not give a true and fair view, and that it is necessary to adopt FRS 102 for the accounts to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified. |
Each property has been valued individually and not as part of a portfolio. No account has been taken of any inter-company leases or arrangements, nor any mortgages, debentures or other charges, and no allowance has been made for any expenses of realisation nor for any taxation which might arise in the event of a disposal. The figures also do not reflect any element of special purchaser value following a merger of interests or sale to an owner or occupier of an adjoining property. |
Where properties have not been included in the valuation review, they are included at cost or at the Members' assessment of open market value. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Disposals | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 28 February 2023 |
5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members would rank pari passu with other creditors. |