Limited Liability Partnership registration number OC338383 (England and Wales)
HUNLEY HALL LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HUNLEY HALL LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HUNLEY HALL LLP
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,278,474
2,305,964
Current assets
Stocks
72,852
73,673
Debtors
4
33,255
15,629
Cash at bank and in hand
85,297
47,607
191,404
136,909
Creditors: amounts falling due within one year
5
(436,878)
(384,147)
Net current liabilities
(245,474)
(247,238)
Total assets less current liabilities
2,033,000
2,058,726
Creditors: amounts falling due after more than one year
6
(51,233)
(76,178)
Net assets attributable to members
1,981,767
1,982,548
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
2,597,651
2,597,651
Other amounts
315,792
244,583
2,913,443
2,842,234
Members' other interests
Other reserves classified as equity
(931,676)
(859,686)
1,981,767
1,982,548
HUNLEY HALL LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

For the financial year ended 31 March 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 26 November 2024 and are signed on their behalf by:
26 November 2024
Mr ACP Wharton
Designated member
Limited Liability Partnership registration number OC338383 (England and Wales)
HUNLEY HALL LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Limited liability partnership information

Hunley Hall LLP is a limited liability partnership incorporated in England and Wales (registration number OC338383). The registered office is Ings Lane, Brotton, Saltburn-By-The-Sea, Cleveland, TS12 2FT.

 

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

1.1
Reporting period

The financial statements cover the12 month period from 1 April 2023 to 31 March 2024 and so are not completely comparable with the comparatives which cover the 8 month period from 1 August 2022 to 31 March 2023.

1.2
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. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents the invoiced value of goods and service supplied, net of valued added tax and trade discounts.

Revenue recognition

Subscriptions are recognised over the period to which they relate, on a straight line basis.

 

Hotel income is recognised on the accruals basis.

 

Entrance fees, golf, bar and catering incomes are recognised on a receipts basis.

 

Deferred income relates to subscriptions paid in advance.

1.4
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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

HUNLEY HALL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation on land / 2% straight line on buildings
Plant and equipment
10% and 5% straight line
Fixtures and fittings
10% straight line
Computers
20% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks. Bank overdrafts are shown within current liabilities.

1.8
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors and loans are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.9
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

HUNLEY HALL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.11
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

2
Employees

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

2024
2023
Number
Number
Total
26
27
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
2,250,636
480,483
258,879
25,907
56,610
3,072,515
Additions
42,151
6,449
-
973
-
49,573
At 31 March 2024
2,292,787
486,932
258,879
26,880
56,610
3,122,088
Depreciation and impairment
At 1 April 2023
208,687
296,467
217,328
21,677
22,392
766,551
Depreciation charged in the year
14,769
30,413
19,271
2,345
10,265
77,063
At 31 March 2024
223,456
326,880
236,599
24,022
32,657
843,614
Carrying amount
At 31 March 2024
2,069,331
160,052
22,280
2,858
23,953
2,278,474
At 31 March 2023
2,041,949
184,016
41,551
4,230
34,218
2,305,964
HUNLEY HALL LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,035
1,833
Other debtors
24,220
13,796
33,255
15,629
5
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
24,944
23,635
Trade creditors
77,323
56,333
Other taxation and social security
142,117
80,639
Other creditors
78,656
107,401
Accruals and deferred income
113,838
116,139
436,878
384,147

Amounts held under hire purchase are secured against the assets to which they relate to.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Obligations under finance leases
51,233
76,178

Amounts held under hire purchase are secured against the assets to which they relate to.

7
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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