REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
FOR |
FARMAN PROPERTY MANAGEMENT LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
FOR |
FARMAN PROPERTY MANAGEMENT LLP |
FARMAN PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC446193) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
FARMAN PROPERTY MANAGEMENT LLP |
GENERAL INFORMATION |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Unit 2.02 High Weald House |
Glovers End |
Bexhill |
East Sussex |
TN39 5ES |
FARMAN PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC446193) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the period 8 March 2023 to 31 March 2024. |
INCORPORATION |
The LLP was incorporated on 8 March 2023 and commenced trading on 6 April 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of investment property rental. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The profit for the period before members' remuneration and profit shares was £36,502. |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
FARMAN PROPERTY MANAGEMENT LLP |
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 Farman Property Management LLP for the period ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Farman Property Management 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 Farman Property Management LLP and state those matters that we have agreed to state to the members of Farman Property Management LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farman Property Management LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Farman Property Management 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 profit of Farman Property Management LLP. You consider that Farman Property Management LLP is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Farman Property Management 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. |
Unit 2.02 High Weald House |
Glovers End |
Bexhill |
East Sussex |
TN39 5ES |
FARMAN PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC446193) |
INCOME STATEMENT |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
£ |
TURNOVER |
Administrative expenses |
(21,458 | ) |
Other operating income |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
FARMAN PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC446193) |
BALANCE SHEET |
31 MARCH 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
1,235,304 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
804 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,234,500 |
1,235,304 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 804 |
Members' other interests | 1,234,500 |
Amounts due from members | (1,764 | ) |
1,233,540 |
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. |
FARMAN PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC446193) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
FARMAN PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC446193) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Farman Property Management 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 |
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 period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
Additions |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |