Limited Liability Partnership Registration No. OC411559 (England and Wales)
RRD (NORTH) LLP
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
RRD (NORTH) LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
RRD (NORTH) LLP
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
220,000
220,000
Current assets
Debtors
4
243
234
Cash at bank and in hand
7,676
15,194
7,919
15,428
Creditors: amounts falling due within one year
5
(5,121)
(4,715)
Net current assets
2,798
10,713
Total assets less current liabilities and net assets attributable to members
222,798
230,713
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
222,798
230,713

For the financial year ended 31 July 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 13 November 2024 and are signed on their behalf by:
13 November 2024
Mr N K Platts
Designated member
Limited Liability Partnership registration number OC411559 (England and Wales)
RRD (NORTH) LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Limited liability partnership information

RRD (North) LLP is a limited liability partnership incorporated in England and Wales. The registered office is Bournemouth International Airport, Christchurch, Dorset, BH23 6SE.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents gross rents receivable, ground rent receivable and insurance recharges due from tenants of the LLP's freehold investment properties.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2024
2023
Number
Number
Total
-
0
-
0
RRD (NORTH) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
3
Investment property
2024
£
Fair value
At 1 August 2023 and 31 July 2024
220,000

Investment property with a carrying value of £220,000 were revalued at the balance sheet date by the members on the basis of market value.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
243
234
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
5,121
4,715
6
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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