REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
THE OFFER PROPERTY PARTNERSHIP LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
THE OFFER PROPERTY PARTNERSHIP LLP |
THE OFFER PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC312639) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
General Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Accountants' Report | 7 |
THE OFFER PROPERTY PARTNERSHIP LLP |
General Information |
for the year ended 31 March 2024 |
Designated members: |
H J M Offer |
The Offer Group Limited |
Registered office: |
Registered number: |
Accountants: |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |
THE OFFER PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC312639) |
Statement of Financial Position |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
and |
Net assets attributable to members | 1,199,383 | 815,797 |
Loans and other debts due to members | 7 | 380,091 | 396,505 |
Members' other interests |
Revaluation reserve |
1,199,383 | 815,797 |
Total members' interests |
Loans and other debts due to members | 7 | 380,091 | 396,505 |
Members' other interests | 819,292 | 419,292 |
1,199,383 | 815,797 |
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 OFFER PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC312639) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
THE OFFER PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC312639) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | Statutory information |
The Offer Property Partnership 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. |
Members' participation rights |
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is agreed by the partners taking into account the anticipated cash and capital needs of the LLP. |
3. | Employee information |
The average number of employees during the year was NIL (2023 - NIL). |
THE OFFER PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC312639) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | Tangible fixed assets |
Freehold |
property |
£ |
Cost or valuation |
At 1 April 2023 |
Revaluations |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Freehold |
property |
£ |
Valuation in 2009 | 124,292 |
Valuation in 2010 | 45,000 |
Valuation in 2016 | 50,000 |
Valuation in 2017 | 120,000 |
Valuation in 2019 | 90,000 |
Valuation in 2020 | (60,000 | ) |
Valuation in 2022 | 370,000 |
Valuation in 2023 | (320,000 | ) |
Valuation in 2024 | 400,000 |
Cost | 330,708 |
1,150,000 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
VAT | - | 3,669 |
Other creditors |
Accrued expenses |
THE OFFER PROPERTY PARTNERSHIP LLP (REGISTERED NUMBER: OC312639) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
7. | Loans and other debts due to members |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 380,091 | 396,505 |
Falling due within one year | 380,091 | 396,505 |
In the event of a winding up the amounts included in "Loans and advances other debts due to members" will rank equally with unsecured creditors. |
Accountants' Report to the Members |
on the Unaudited Financial Statements of |
The Offer Property Partnership LLP |
The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of The Offer Property Partnership LLP for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position and the related notes from the LLP's accounting records and from information and explanations you have given us. |
This report is made solely to the members of The Offer Property Partnership LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Offer Property Partnership LLP and state those matters that we have agreed to state to the members of The Offer Property Partnership LLP, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that The Offer Property Partnership LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Offer Property Partnership LLP. You consider that The Offer Property Partnership LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of The Offer Property Partnership LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Aissela |
46 High Street |
Esher |
Surrey |
KT10 9QY |