Acorah Software Products - Accounts Production 16.1.300 false true false 1 March 2023 31 March 2024 31 March 2024 OC446051 Mrs Madhu Sama iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC446051 2023-02-28 OC446051 2024-03-31 OC446051 2023-03-01 2024-03-31 OC446051 frs-core:Non-currentFinancialInstruments 2024-03-31 OC446051 frs-bus:LimitedLiabilityPartnershipLLP 2023-03-01 2024-03-31 OC446051 frs-bus:LimitedLiabilityPartnershipsSORP 2023-03-01 2024-03-31 OC446051 frs-bus:AbridgedAccounts 2023-03-01 2024-03-31 OC446051 frs-bus:SmallEntities 2023-03-01 2024-03-31 OC446051 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-03-31 OC446051 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-03-31 OC446051 frs-countries:EnglandWales 2023-03-01 2024-03-31 OC446051 frs-bus:PartnerLLP1 2023-03-01 2024-03-31
Registered number: OC446051
MS PROPERTIES PARTNERSHIP LLP
Unaudited ABRIDGED Financial Statements
For the Period 1 March 2023 to 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: OC446051
31 March 2024
Notes £ £
FIXED ASSETS
Investment Property 4 4,185,000
4,185,000
CURRENT ASSETS
Debtors 900
900
Creditors: Amounts Falling Due Within One Year (47,100 )
NET CURRENT ASSETS (LIABILITIES) (46,200 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,138,800
Creditors: Amounts Falling Due After More Than One Year (4,138,800 )
NET ASSETS ATTRIBUTABLE TO MEMBERS -
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 48,624
48,624
Equity
Members' other interests
Members' capital (49,115)
Other reserves 491
(48,624)
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 48,624
Members' other interests (48,624)
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Page 2
For the period ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
All of the LLP's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the members
Mrs Madhu Sama
Designated Member
20/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
MS PROPERTIES PARTNERSHIP LLP is a limited liability partnership, incorporated in England & Wales, registered number OC446051 . The Registered Office is Odeon House, 146 College Road, Harrow, HA1 1BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the net rents receivable. Turnover is recognised on a rent receivable basis to the balance sheet date.
2.3. Investment Property
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.
Subsequent to initial recognition:
i. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in statement of comprehensive income in the period that they arise. Members only account for increase/decrease in the fair value if the difference year on year is material.
ii. No depreciation is provided in respect of investment properties.
2.4. Interest Payable
Interest payables are recognised in profit or loss as they accrue, using the effective interest method.
2.3. Tangible Fixed Assets and Depreciation
Investment properties are properties which are held either to earn rental income or for capital appreciation or for
both. Investment properties are recognised initially at cost.
Subsequent to initial recognition:
i. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in statement of comprehensive income in the period that they arise. Directors only account for increase/decrease in the fair value if the difference year on year is material.
ii. No depreciation is provided in respect of investment properties.
2.4 Interest Payable
Interest payables are recognised in profit or loss as they accrue, using the effective interest method.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: 3
3
Page 3
Page 4
4. Investment Property
Total
£
Cost
As at 1 March 2023 -
Additions 4,185,000
As at 31 March 2024 4,185,000
Net Book Value
As at 31 March 2024 4,185,000
As at 1 March 2023 -
In the opinion of the members the fair value of the investment properties as at 31 March 2024 is not significantly different to that stated above. 
5. Related Party Transactions
At the year end, the company owed £1,100,759 to Mr Ritche Sama and £1,100,759 to Mr Shivon Sama. The debt notes is subject to interest of 0.5% per annnum.
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