Mister Dee LLP OC385172 false 2023-06-01 2024-03-31 2024-03-31 The principal activity of the company is that of property letting. Digita Accounts Production Advanced 6.30.9574.0 OC385172 2023-06-01 2024-03-31 OC385172 2024-03-31 OC385172 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 OC385172 core:WithinOneYear 2024-03-31 OC385172 bus:SmallEntities 2023-06-01 2024-03-31 OC385172 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-03-31 OC385172 bus:FullAccounts 2023-06-01 2024-03-31 OC385172 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-03-31 OC385172 bus:RegisteredOffice 2023-06-01 2024-03-31 OC385172 bus:PartnerLLP1 2023-06-01 2024-03-31 OC385172 bus:PartnerLLP2 2023-06-01 2024-03-31 OC385172 bus:PartnerLLP3 2023-06-01 2024-03-31 OC385172 bus:PartnerLLP4 2023-06-01 2024-03-31 OC385172 bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-03-31 OC385172 countries:AllCountries 2023-06-01 2024-03-31 OC385172 2022-06-01 2023-05-31 OC385172 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 OC385172 core:WithinOneYear 2023-05-31 xbrli:pure iso4217:GBP

Registration number: OC385172

Mister Dee LLP

Annual Report and Unaudited Financial Statements

for the period from 1 June 2023 to 31 March 2024

 

Mister Dee LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 8

Balance Sheet

2

Notes to the Financial Statements

4

 

Mister Dee LLP

Limited liability partnership information

Designated members

Mrs S Kothari

Mrs G Mistry
 

Members

Mrs J C Shah

Mister Dee International Limited
 

Registered office

27 Elms Road
Harrow Weald
Middlesex
HA3 6BB

Accountants

Richlands Business Advisers Limited
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Mister Dee LLP

(Registration number: OC385172)
Balance Sheet as at 31 March 2024

Note

31 March 2024
 £

31 May 2023
 £

Fixed assets

 

Tangible assets

3

1,040,714

1,040,714

Current assets

 

Debtors

4

59,444

45,700

Cash and short-term deposits

 

498,671

450,351

 

558,115

496,051

Creditors: Amounts falling due within one year

5

(92,167)

(23,906)

Net current assets

 

465,948

472,145

Total assets less current liabilities

 

1,506,662

1,512,859

Creditors: Amounts falling due after more than one year

6

(1,086,885)

(1,086,885)

Net assets attributable to members

 

419,777

425,974

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

418,897

425,094

Equity

 

Members' capital classified as equity

 

880

880

   

419,777

425,974

Total members' interests

 

Loans and other debts due to members

 

418,897

425,094

Equity

 

880

880

   

419,777

425,974

For the year 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) relating to small LLPs.
 

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

 

Mister Dee LLP

(Registration number: OC385172)
Balance Sheet as at 31 March 2024

The financial statements of Mister Dee LLP (registered number OC385172) were approved by the Board and authorised for issue on 20 January 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Mrs S Kothari
Designated member

.........................................
Mrs G Mistry
Designated member

 
 

Mister Dee LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in compliance with Section 1A Small Entities of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in August 2016 (SORP 2016).

General information and basis of accounting

The limited liability partnership is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of Mister Dee LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

undiscounted

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

 

Mister Dee LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Individual fixed assets costing or more are initially recorded at cost.

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value with any change recognised in the profit and loss account.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Mister Dee LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

Classification

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a finance transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the limited liability partnership intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Impairment of financial assets

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the limited liability partnership transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the limited liability partnership, despite having retained some significant risks and rewards of ownership, has transferred control of the asset to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 0 (2023 - 0).

 

Mister Dee LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

3

Tangible fixed assets

Freehold Investment Properties
£

Total
£

Cost

At 1 June 2023

1,040,714

1,040,714

At 31 March 2024

1,040,714

1,040,714

Depreciation

At 31 March 2024

-

-

Net book value

At 31 March 2024

1,040,714

1,040,714

At 31 May 2023

1,040,714

1,040,714

Investment property has been internally valued by the members.

 

Mister Dee LLP

Notes to the Financial Statements for the Period from 1 June 2023 to 31 March 2024

4

Debtors

31 March 2024
 £

31 May 2023
 £

Trade debtors

59,444

45,700

Total current trade and other debtors

59,444

45,700

5

Creditors: Amounts falling due within one year

2024
£

2023
£

Other creditors

90,247

21,986

Accruals and deferred income

1,920

1,920

92,167

23,906

6

Creditors: Amounts falling due after more than one year

2024
£

2023
£

Other creditors

1,086,885

1,086,885

7

Control

The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.