Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC395952 Sure Team Properties Sisu Properties Limited 207GT M&B LTD Parsifal Enterprises Ltd Mr Janko Nedic iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC395952 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-03-31 OC395952 2023-03-31 OC395952 2024-03-31 OC395952 2023-04-01 2024-03-31 OC395952 frs-core:CurrentFinancialInstruments 2024-03-31 OC395952 frs-core:Non-currentFinancialInstruments 2024-03-31 OC395952 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC395952 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC395952 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC395952 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC395952 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC395952 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC395952 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC395952 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC395952 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC395952 frs-bus:PartnerLLP3 2023-04-01 2024-03-31 OC395952 frs-bus:PartnerLLP4 2023-04-01 2024-03-31 OC395952 frs-bus:PartnerLLP5 2023-04-01 2024-03-31 OC395952 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 OC395952 2022-03-31 OC395952 2023-03-31 OC395952 2022-04-01 2023-03-31 OC395952 frs-core:CurrentFinancialInstruments 2023-03-31 OC395952 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC395952
Sisu Bevan House LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Michael Stuart Associates Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC395952
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 2,016,548 2,016,548
2,016,548 2,016,548
CURRENT ASSETS
Debtors 5 11,788 9,430
Cash at bank and in hand 119,332 2,512
131,120 11,942
Creditors: Amounts Falling Due Within One Year 6 (1,152,817 ) (43,838 )
NET CURRENT ASSETS (LIABILITIES) (1,021,697 ) (31,896 )
TOTAL ASSETS LESS CURRENT LIABILITIES 994,851 1,984,652
Creditors: Amounts Falling Due After More Than One Year 7 (66,262 ) (1,070,731 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 928,589 913,921
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability (304,217) (318,985)
Other amounts 1,639,820 1,639,820
1,335,603 1,320,835
Equity
Members' other interests
Revaluation reserve (1,417,094) (1,417,094)
Other reserves 1,010,080 1,010,180
(407,014) (406,914)
928,589 913,921
TOTAL MEMBERS' INTEREST
Loans and other debts due to members 1,335,603 1,320,835
Members' other interests (407,014) (406,914)
928,589 913,921
Page 1
Page 2
For the year ending 31 March 2024 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Sisu Properties Limited
Designated Member
18/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Sisu Bevan House LLP is a limited liability partnership, incorporated in England & Wales, registered number OC395952 . The Registered Office is 27 Old Gloucester Street, London, WC1N 3AX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Division of Profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional
right to refuse payment of the profits of a particular year unless and until the members agree to
divide them. Profits are otherwise automatically divided and included under Members’
remuneration charged as an expense in the profit and loss account.
2.5. Members Capital
Members'capital isclassifiedasdebtandnotequityif thereisacontractualobligationfor theLLP
to repay the capital to members, even if that obligation is conditional.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 2,016,548
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 3,618,642 3,618,642
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 11,788 9,430
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27,115 5,137
Bank loans and overdrafts 1,107,457 28,337
Other creditors 18,245 10,364
1,152,817 43,838
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,262 1,060,731
Other creditors 62,000 10,000
66,262 1,070,731
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 4,262 1,060,730
Other Creditors 62,000 10,000
8. Secured Creditors
Of the creditors the following amounts are secured.
Bank loans are secured by way of a first legal charge over investment property.
2024 2023
£ £
Bank loans and overdrafts 1,111,719 1,060,730
9. Provisions for Liabilities
10. Related Party Transactions
During the year the partnership received a loan from a partnership member.   During the year the partnership also received a loan from a company in which a partnership member has a material interest.   The loans are interest free.  
11. Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members.
Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Page 4