REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Spark Brothers LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
Spark Brothers LLP |
Spark Brothers LLP (Registered number: OC307063) |
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 |
Spark Brothers LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
Mrs B Spark |
Mrs A Spark |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Schoolhouse |
5-7 Byrom Street |
Manchester |
M3 4PF |
Spark Brothers LLP (Registered number: OC307063) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 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 |
247,877 |
333,585 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
97,877 |
183,585 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 100,000 | 100,000 |
Revaluation reserve | 8 |
247,877 | 333,585 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 97,877 | 183,585 |
Members' other interests | 150,000 | 150,000 |
Amounts due from members | 5 | (80,812 | ) | (127,812 | ) |
167,065 | 205,773 |
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. |
Spark Brothers LLP (Registered number: OC307063) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Spark Brothers LLP (Registered number: OC307063) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Spark Brothers 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 represents rental income receivable and recharged insurance costs. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Members only take drawings where cash is available and other creditors are not adversely affected. |
Spark Brothers LLP (Registered number: OC307063) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
9. | RELATED PARTY DISCLOSURES |
The investment property was transferred to the LLP in 2005 by R N Spark and A J Spark, who purchased the property from the Joseph Spark and Sons Pension Fund, of which they were trustees and advisers, for its estimated market value at that time of £100,000 less legal costs. |
10. | ULTIMATE CONTROLLING PARTY |
There is no controlling party as all designated members have equal voting rights. |