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REGISTERED NUMBER: OC441124 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

APL Rentals LLP

APL Rentals LLP (Registered number: OC441124)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


APL Rentals LLP

GENERAL INFORMATION
for the year ended 31 March 2024







Designated members: P D Lowe
Mrs A M Lowe





Registered office: Groesynyd House
1 Cwrt Y Groes
Tyn Y Groes
Conwy
LL32 8TZ





Registered number: OC441124 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

APL Rentals LLP (Registered number: OC441124)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 9,335 3,402
Investment property 5 668,000 491,153
677,335 494,555

Current assets
Debtors 6 981 607
Cash at bank 418 515
1,399 1,122
Creditors
Amounts falling due within one year 7 24,236 25,986
Net current liabilities (22,837 ) (24,864 )
Total assets less current liabilities 654,498 469,691

Creditors
Amounts falling due after more than
one year

8

337,198

337,206
Net assets attributable to members 317,300 132,485

Loans due to members 10 150,191 132,485

Revaluation reserve
Revaluation reserve 11 167,109 -
317,300 132,485

Total members' interests
Loans due to members 10 150,191 132,485
Revaluation reserve 167,109 -
317,300 132,485

APL Rentals LLP (Registered number: OC441124)

BALANCE SHEET - continued
31 March 2024


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 24 September 2024 and were signed by:





P D Lowe - Designated member

APL Rentals LLP (Registered number: OC441124)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

APL Rentals 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
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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration receivable, excluding discounts or rebates for services incurred.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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.

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.

3. EMPLOYEE INFORMATION

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

APL Rentals LLP (Registered number: OC441124)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
Cost
At 1 April 2023 3,443
Additions 8,027
At 31 March 2024 11,470
Depreciation
At 1 April 2023 41
Charge for year 2,094
At 31 March 2024 2,135
Net book value
At 31 March 2024 9,335
At 31 March 2023 3,402

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 491,153
Additions 9,738
Revaluations 167,109
At 31 March 2024 668,000
Net book value
At 31 March 2024 668,000
At 31 March 2023 491,153

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 167,109
Cost 500,891
668,000

APL Rentals LLP (Registered number: OC441124)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY - continued

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 500,891 491,153

Investment property was valued on an open market basis on 31 March 2024 by the members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 981 607

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 8,618 20,371
Other creditors 15,618 5,615
24,236 25,986

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 337,198 337,206

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 337,198 337,206

10. LOANS DUE TO MEMBERS

Loans and other debts due to members rank behind the company's other creditors.

APL Rentals LLP (Registered number: OC441124)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

11. RESERVES
Revaluation
reserve
£   
Property revaluation 167,109
At 31 March 2024 167,109