Registered number
OC309715
Masons Garage (Bosley) LLP
Unaudited Filleted Accounts
31 March 2024
Masons Garage (Bosley) LLP
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 110,187 110,187
Current assets
Cash at bank and in hand 7,643 8,216
Creditors: amounts falling due within one year 4 (540) (600)
Net current assets 7,103 7,616
Total assets less current liabilities 117,290 117,803
Net assets attributable to members 117,290 117,803
Represented by:
Loans and other debts due to members 5 117,290 117,803
117,290 117,803
Total members' interests
Loans and other debts due to members 5 117,290 117,803
117,290 117,803
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 25 July 2024 and signed on their behalf by:
W H J Mayer
Designated member
Masons Garage (Bosley) LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover represents the invoiced value of rent receivable during the year.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
The land and buildings shown in the Tangible fixed asset note are held by the LLP as an investment property. The property is valued by the members at each balance sheet date. No depreciation is charged on investment properties.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP - -
3 Tangible fixed assets
Investment property
£
Cost
At 1 April 2023 110,187
At 31 March 2024 110,187
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 110,187
At 31 March 2023 110,187
4 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 540 600
5 Loans and other debts due to members 2024 2023
£ £
Loans from members 117,290 117,803
Amounts falling due within one year 117,290 117,803
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
6 Other information
Masons Garage (Bosley) LLP is a limited liability partnership incorporated in England. Its registered office is:
Whin House
Leek Road
Macclesfield
Cheshire
SK11 0PN
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