Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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600,516 | 600,516 | |||
Current assets | ||||
Cash at bank and in hand |
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2,498 | 628 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (26,442) | (27,403) | ||
Total assets less current liabilities | 574,074 | 573,113 | ||
Creditors: amounts falling due after more than one year | 5 | (
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Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Members' capital classified as a liability | 134,692 | 109,054 | ||
Other amounts | 29,129 | 25,638 | ||
163,821 | 134,692 | |||
Members' other interests | ||||
Members' capital classified as equity | 174,751 | 174,751 | ||
174,751 | 174,751 | |||
338,572 | 309,443 | |||
Total members' interests | ||||
Loans and other debts due to members | 163,821 | 134,692 | ||
Members' other interests | 174,751 | 174,751 | ||
338,572 | 309,443 |
Members' responsibilities:
The financial statements of Scott Bailey Properties LLP (registered number:
J P Burford
Designated member |
S J Unsworth
Designated member |
EQUITY Members' other interests |
DEBT Loans and other debts due to members less any amounts due from members in debtors |
Total members' interests | |||
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Members' capital (classified as equity) | Members' capital (classified as debt) | Other amounts | Total | Total | |
£ | £ | £ | £ | £ | |
Amounts due to members | 87,453 | 21,601 | 109,054 | ||
Balance at 06 April 2022 | 174,751 | 87,453 | 21,601 | 109,054 | 283,805 |
Members' remuneration charged as an expense, including employment and retirement benefit costs | 0 | 0 | 28,338 | 28,338 | 28,338 |
Members' interest after result for the financial year | 174,751 | 87,453 | 49,939 | 137,392 | 312,143 |
Drawings | 0 | 0 | (2,700) | (2,700) | (2,700) |
Amounts due to members | 109,054 | 25,638 | 134,692 | ||
Balance at 05 April 2023 | 174,751 | 109,054 | 25,638 | 134,692 | 309,443 |
Members' remuneration charged as an expense, including employment and retirement benefit costs | 0 | 0 | 29,129 | 29,129 | 29,129 |
Members' interest after result for the financial year | 174,751 | 109,054 | 54,767 | 163,821 | 338,572 |
Allocated (profits)/losses in respect of the prior period | 0 | 25,638 | (25,638) | 0 | 0 |
Amounts due to members | 134,692 | 29,129 | 163,821 | ||
Balance at 05 April 2024 | 174,751 | 134,692 | 29,129 | 163,821 | 338,572 |
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Scott Bailey Properties LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 63 High Street, Lymington, SO41 9ZT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Land and buildings | not depreciated |
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Profits of the LLP are automatically allocated in full to members. Accordingly, the profit attributable to members is charged as an expense in the profit and loss account. During the year, members may receive drawings on account of profits. At the year end, undrawn allocated profits of the LLP are included within loans and other debts due to members. To the extent that any payment of drawings exceeds the amount of profit ultimately to be found to be due to any member, such excess is reclaimable by the LLP and included within debtors.
Capital is repayable to a member on retirement and accordingly, is classified as a liability in the balance sheet.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Land and buildings | Total | ||
£ | £ | ||
Cost | |||
At 06 April 2023 |
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At 05 April 2024 |
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Accumulated depreciation | |||
At 06 April 2023 |
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At 05 April 2024 |
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Net book value | |||
At 05 April 2024 |
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At 05 April 2023 |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Other creditors |
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The bank loan is secured by a fixed and floating charge over all assets.
2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
2024 | 2023 | ||
£ | £ | ||
Bank loans |
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