REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
FOR |
SEEL STREET ESTATES LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
FOR |
SEEL STREET ESTATES LLP |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Reconciliation of Members' Interests | 6 |
Notes to the Financial Statements | 8 |
SEEL STREET ESTATES LLP |
GENERAL INFORMATION |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
375 Eaton Road |
West Derby |
Liverpool |
Merseyside |
L12 2AH |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
REPORT OF THE MEMBERS |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
The members present their report with the financial statements of the LLP for the period 6 April 2023 to 4 April 2024. |
DESIGNATED MEMBERS |
The designated members during the period under review were: |
RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS |
The profit for the period before members' remuneration and profit shares was £83,556 (2023 - £55,225 profit). |
MEMBERS' INTERESTS |
The capital requirements of the partnership are determined from time to time by the members. Each member is required to subscribe a proportion of this capital. On leaving the partnership, a member's capital is repaid. During the accounting period members may make drawings from allocated profits or accumulated capital. The level and timing of members' drawings is decided by the members, taking into account the partnership's cash requirements for operating activities. |
ON BEHALF OF THE MEMBERS: |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
INCOME STATEMENT |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
Period |
6.4.23 |
to | Year Ended |
4.4.24 | 5.4.23 |
£ | £ |
TURNOVER |
Administrative expenses |
(55,852 | ) | (100,838 | ) |
Other operating income - rents |
receivable |
OPERATING PROFIT |
Interest payable and similar expenses |
PROFIT FOR THE FINANCIAL PERIOD BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
BALANCE SHEET |
4 APRIL 2024 |
4.4.24 | 5.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment properties | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 1,375,662 | 1,389,886 |
MEMBERS' LOANS AND OTHER DEBTS | 10 | 1,375,662 | 1,389,886 |
TOTAL MEMBERS' INTERESTS |
Members' loans and other debts | 10 | 1,375,662 | 1,389,886 |
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. |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
BALANCE SHEET - continued |
4 APRIL 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 1,389,886 |
Amount due from members | - |
Balance at 6 April 2023 | - | 1,389,886 | 1,389,886 |
Profit for the financial period available for discretionary division among members |
83,556 |
- |
83,556 |
Members' interests after profit for the period |
83,556 |
1,389,886 |
1,473,442 |
Other divisions of profit | (83,556 | ) | 83,556 | - |
Drawings on account and distributions of profit |
- |
(97,780 |
) |
(97,780 |
) |
Amount due to members | 1,375,662 |
Amount due from members | - |
Balance at 4 April 2024 | - | 1,375,662 | 1,375,662 |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
RECONCILIATION OF MEMBERS' INTERESTS |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
EQUITY | DEBT | TOTAL |
Members' | Loans and other debts due to | MEMBERS' |
other | members less any amounts due | INTERESTS |
interests | from members in debtors |
Other | Other |
reserves | amounts | Total |
£ | £ | £ |
Amount due to members | 1,334,661 |
Amount due from members | - |
Balance at 6 April 2022 | - | 1,334,661 | 1,334,661 |
Profit for the financial period available for discretionary division among members |
55,225 |
- |
55,225 |
Members' interests after profit for the period |
55,225 |
1,334,661 |
1,389,886 |
Other divisions of profit | (55,225 | ) | 55,225 | - |
Amount due to members | 1,389,886 |
Amount due from members | - |
Balance at 5 April 2023 | - | 1,389,886 | 1,389,886 |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
1. | STATUTORY INFORMATION |
Seel Street Estates 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. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Office equipment | - |
Investment properties |
Investment properties are included at fair value. Gains and losses are recognised in the income statement. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs |
The LLP operates defined contribution pension schemes. Contributions payable to the LLP's pension schemes are charged to profit or loss in the period to which they relate. |
Government grants |
Government grants are recognised in the income statement so as to match them with the expenditure towards which they are intended to contribute. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Office |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 6 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 4 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for period | ( |
) | ( |
) |
Eliminated on disposal | ( |
) | ( |
) |
At 4 April 2024 |
NET BOOK VALUE |
At 4 April 2024 |
At 5 April 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 6 April 2023 |
Disposals | ( |
) |
At 4 April 2024 |
DEPRECIATION |
At 6 April 2023 |
Charge for period |
Eliminated on disposal | ( |
) |
At 4 April 2024 |
NET BOOK VALUE |
At 4 April 2024 |
At 5 April 2023 |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
5. | INVESTMENT PROPERTIES |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
and 4 April 2024 |
NET BOOK VALUE |
At 4 April 2024 |
At 5 April 2023 |
Fair value at 4 April 2024 is represented by: |
£ |
Valuation in 2024 | 1,121,250 |
If investment properties had not been revalued they would have been included at the following historical cost: |
4.4.24 | 5.4.23 |
£ | £ |
Cost | 1,002,051 | 1,002,051 |
Investment properties were valued on a fair value basis on 5 April 2024 by the designated members . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
4.4.24 | 5.4.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
4.4.24 | 5.4.23 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
4.4.24 | 5.4.23 |
£ | £ |
Bank loans |
Hire purchase contracts |
SEEL STREET ESTATES LLP (REGISTERED NUMBER: OC376124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 6 APRIL 2023 TO 4 APRIL 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
4.4.24 | 5.4.23 |
£ | £ |
Hire purchase contracts | 67,523 | 132,813 |
The hire purchase contracts are secured on the assets financed. |
10. | MEMBERS' LOANS AND OTHER DEBTS |
Loans and other debts due to members (other than members' capital classified as debt) rank equally with debts due to other unsecured creditors in a winding up. There are no restrictions on the ability of the members to reduce the amount of the Members' interests. |