REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Fleet Suites LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
Fleet Suites LLP |
Fleet Suites LLP (Registered number: OC427141) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Fleet Suites LLP |
General Information |
for the Year Ended 30 April 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
47 Kensington Road |
Chichester |
West Sussex |
PO19 7XS |
Fleet Suites LLP (Registered number: OC427141) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
808,500 |
929,642 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
608,500 |
729,642 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 200,000 | 200,000 |
808,500 | 929,642 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 608,500 | 729,642 |
Members' other interests | 200,000 | 200,000 |
Amounts due from members | 6 | (15,618 | ) | - |
792,882 | 929,642 |
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. |
Fleet Suites LLP (Registered number: OC427141) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Fleet Suites LLP (Registered number: OC427141) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Fleet Suites 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 |
Fixtures and fittings | - |
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. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Fleet Suites LLP (Registered number: OC427141) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | (125,000 | ) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
The investment property is carried at its estimated fair value based on a professional valuation obtained by the members. |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2024 | 775,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | 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. |
Loans and other debts due to members include interest free loans totalling £608,500 (2023: £608,500) which are repayable on demand from 5 August 2024, being 5 years after the date of the loan agreement. |
The remaining balance of loans and other debts due to members of £121,142 (2023: £121,142) consists of £15,618 in respect of overdrawn profits (2022: £77,545 in respect of undrawn profits) and £nil (2023: £43,597) of capital introduced. Losses for the current year include £125,000 of unrealised losses (2023: £31,435 of unrealised gains) on revaluing the investment property to its fair value. |
9. | POST BALANCE SHEET EVENTS |
Subsequent to the balance sheet date the investment property was disposed of for gross proceeds of £775,000. |