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REGISTERED NUMBER: OC368110 (England and Wales)











Financial Statements

for the Year Ended 31 March 2024

for

LIVE WORK SPACE (2011) LLP

LIVE WORK SPACE (2011) LLP (REGISTERED NUMBER: OC368110)






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


LIVE WORK SPACE (2011) LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Ambrian Investments Limited
Live Work Space Limited





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: OC368110 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

LIVE WORK SPACE (2011) LLP (REGISTERED NUMBER: OC368110)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,311,095 5,311,095

CURRENT ASSETS
Debtors 5 - 830
Cash at bank 34,565 38,857
34,565 39,687
CREDITORS
Amounts falling due within one year 6 170,857 19,846
NET CURRENT (LIABILITIES)/ASSETS (136,292 ) 19,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,174,803

5,330,936

CREDITORS
Amounts falling due after more than one year 7 3,850,091 4,113,679
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,324,712

1,217,257

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,324,712

1,217,257

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,324,712 1,217,257

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.

LIVE WORK SPACE (2011) LLP (REGISTERED NUMBER: OC368110)

Balance Sheet - continued
31 March 2024


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 13 November 2024 and were signed by:





Ambrian Investments Limited - Designated member

LIVE WORK SPACE (2011) LLP (REGISTERED NUMBER: OC368110)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Live Work Space (2011) 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 income received from the rental of property. Rent is recognised in the accounts evenly over the rental agreement.

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 year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,311,095
NET BOOK VALUE
At 31 March 2024 5,311,095
At 31 March 2023 5,311,095

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 830

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 153,820 -
Accruals and deferred income 14,037 13,846
Accrued expenses 3,000 6,000
170,857 19,846

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 8) 3,850,091 4,113,679

LIVE WORK SPACE (2011) LLP (REGISTERED NUMBER: OC368110)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due between one and two years:
Loans 3,850,091 4,113,679

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank in pari pasu in relation to other creditors.