Registered number
OC384641
Jamestown Road LLP
Filleted Accounts
31 March 2024
Jamestown Road LLP
Registered number: OC384641
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,480 3,480
Tangible assets 4 2,330,347 2,330,347
2,333,827 2,333,827
Current assets
Cash at bank and in hand 44,313 13,253
Creditors: amounts falling due within one year 5 (10,783) (10,784)
Net current assets 33,530 2,469
Total assets less current liabilities 2,367,357 2,336,296
Net assets attributable to members 2,367,357 2,336,296
Represented by:
Loans and other debts due to members 6 2,367,357 2,187,293
Members' other interests
Other reserves - 149,003
2,367,357 2,336,296
Total members' interests
Loans and other debts due to members 6 2,367,357 2,187,293
Members' other interests - 149,003
2,367,357 2,336,296
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 15 August 2024 and signed on their behalf by:
R Kaffel for Olimas Investments LLP
Designated member
Jamestown Road 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 5,800
At 31 March 2024 5,800
Amortisation
At 1 April 2023 2,320
At 31 March 2024 2,320
Net book value
At 31 March 2024 3,480
At 31 March 2023 3,480
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 2,330,347
At 31 March 2024 2,330,347
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 2,330,347
At 31 March 2023 2,330,347
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 10,783 10,784
6 Loans and other debts due to members 2024 2023
£ £
Members capital classified as debt 13,014 13,014
Loans from members 2,196,986 2,196,986
Amounts due to members in respect of profits 157,357 (22,707)
2,367,357 2,187,293
Amounts falling due within one year 2,367,357 2,187,293
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
7 Other information
Jamestown Road LLP is a limited liability partnership incorporated in England. Its registered office is:
43 Mornington Road
Chingford
London
E4 7DT
Jamestown Road LLP OC384641 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 R Kaffel for Olimas Investments LLP No description of principal activity OC384641 2022-04-01 2023-03-31 OC384641 core:WithinOneYear 2023-03-31 OC384641 1 2023-03-31 OC384641 core:RetainedEarningsAccumulatedLosses 2023-03-31 OC384641 2023-04-01 2024-03-31 OC384641 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC384641 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC384641 bus:PartnerLLP20 2023-04-01 2024-03-31 OC384641 3 2023-04-01 2024-03-31 OC384641 2 2023-04-01 2024-03-31 OC384641 4 2023-04-01 2024-03-31 OC384641 countries:England 2023-04-01 2024-03-31 OC384641 bus:FRS102 2023-04-01 2024-03-31 OC384641 bus:FilletedAccounts 2023-04-01 2024-03-31 OC384641 2024-03-31 OC384641 core:WithinOneYear 2024-03-31 OC384641 1 2024-03-31 OC384641 core:RetainedEarningsAccumulatedLosses 2024-03-31 OC384641 core:Goodwill 2024-03-31 OC384641 core:LandBuildings 2024-03-31 OC384641 2023-03-31 OC384641 core:Goodwill 2023-03-31 OC384641 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure