REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 5th April 2024 |
for |
Prospects Property Partnership LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 5th April 2024 |
for |
Prospects Property Partnership LLP |
Prospects Property Partnership LLP (Registered number: OC400027) |
Contents of the Financial Statements |
for the Year Ended 5th April 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
Prospects Property Partnership LLP |
General Information |
for the Year Ended 5th April 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 1B The Beehive |
Lions Drive |
Shadsworth Business Park |
Blackburn |
Lancashire |
BB1 2QS |
Prospects Property Partnership LLP (Registered number: OC400027) |
Report of the Members |
for the Year Ended 5th April 2024 |
The members present their report with the financial statements of the LLP for the year ended 5th April 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of Property investment |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £122,375 (2023 - £288,836 loss). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
Prospects Property Partnership LLP (Registered number: OC400027) |
Income Statement |
for the Year Ended 5th April 2024 |
5.4.24 | 5.4.23 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT |
Profit/loss on disposal of tangible fixed assets |
4 |
121,845 | (282,810 | ) |
Interest receivable and similar income |
122,375 | (282,733 | ) |
Interest payable and similar expenses |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
Prospects Property Partnership LLP (Registered number: OC400027) |
Balance Sheet |
5th April 2024 |
5.4.24 | 5.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Prepayments and accrued income |
Cash at bank |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
ACCRUALS AND DEFERRED INCOME |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
2,235,950 |
2,240,162 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 2,235,950 | 2,240,162 |
2,235,950 | 2,240,162 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 2,235,950 | 2,240,162 |
Amounts due from members | (288,835 | ) | (288,836 | ) |
1,947,115 | 1,951,326 |
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. |
Prospects Property Partnership LLP (Registered number: OC400027) |
Balance Sheet - continued |
5th April 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Prospects Property Partnership LLP (Registered number: OC400027) |
Notes to the Financial Statements |
for the Year Ended 5th April 2024 |
1. | STATUTORY INFORMATION |
Prospects Property Partnership 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. |
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. | EXCEPTIONAL ITEMS |
5.4.24 | 5.4.23 |
£ | £ |
Profit/loss on disposal of tangible fixed assets | ( |
) |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6th April 2023 |
and 5th April 2024 |
NET BOOK VALUE |
At 5th April 2024 |
At 5th April 2023 |