Company No:
Contents
DESIGNATED MEMBERS | J Wright |
K Wright |
REGISTERED OFFICE | 22 Wycombe End |
Beaconsfield | |
Buckinghamshire | |
HP9 1NB | |
United Kingdom |
REGISTERED NUMBER | OC435309 (England and Wales) |
ACCOUNTANT | Evelyn Partners (Thames Valley) Limited |
22 Wycombe End | |
Beaconsfield | |
Buckinghamshire | |
HP9 1NB |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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6,237,085 | 6,079,588 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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10,723 | 15,048 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 2,783 | 11,547 | ||
Total assets less current liabilities | 6,239,868 | 6,091,135 | ||
Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members within one year | ||||
Other amounts | 6,239,866 | 6,091,133 | ||
6,239,866 | 6,091,133 | |||
Members' other interests | ||||
Members' capital classified as equity | 2 | 2 | ||
2 | 2 | |||
6,239,868 | 6,091,135 | |||
Total members' interests | ||||
Loans and other debts due to members | 6,239,866 | 6,091,133 | ||
Members' other interests | 2 | 2 | ||
6,239,868 | 6,091,135 |
Members' responsibilities:
The financial statements of Brockenhurst Park Estate LLP (registered number:
J Wright
Designated member |
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.
Brockenhurst Park Estate 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 22 Wycombe End, Beaconsfield, Buckinghamshire, HP9 1NB, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Brockenhurst Park Estate LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the LLP operates.
If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.
Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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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 credited or charged to profit or loss.
The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.
Financial instruments are recognised in the company’s balance sheet when the company becomes party to the contractual provisions of the instrument.
***Basic financial assets***
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.
***Basic financial liabilities***
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.
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.
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.
Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.
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.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Plant and machinery | Vehicles | Fixtures and fittings | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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Investment property | |
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Fair value | |
As at 01 April 2023 |
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Additions | 58,000 |
As at 31 March 2024 |
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The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors of the company at 31 March 2024. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank overdrafts |
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Trade creditors |
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Other creditors |
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