Registration number:
Rose Hall Properties LLP
for the period from 1 May 2023 to 31 March 2024
Rose Hall Properties LLP
Contents
Limited liability partnership information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Rose Hall Properties LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Members on the Preparation of the Unaudited Statutory Accounts of
Rose Hall Properties LLP
for the Period Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, as applied to limited liability partnerships, we have prepared for your approval the accounts of Rose Hall Properties LLP for the period ended 31 March 2024 set out on pages 3 to 9 from the limited liability partnership's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the members of Rose Hall Properties LLP, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rose Hall Properties LLP and state those matters that we have agreed to state to the members of Rose Hall Properties LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rose Hall Properties LLP and its members as a body for our work or for this report.
It is your duty to ensure that Rose Hall Properties LLP has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Rose Hall Properties LLP. You consider that Rose Hall Properties LLP is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Rose Hall Properties LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
306 High Street
Croydon
Surrey
CR0 1NG
Rose Hall Properties LLP
(Registration number: OC419361)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Other non-current financial assets |
200,000 |
200,000 |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
1,349,999 |
1,492,904 |
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Members’ other interests |
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Other reserves |
( |
( |
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1,337,499 |
1,489,373 |
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Total members' interests |
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Loans and other debts due to members |
1,349,999 |
1,492,904 |
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Equity |
( |
( |
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1,337,499 |
1,489,373 |
For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Rose Hall Properties LLP
(Registration number: OC419361)
Balance Sheet as at 31 March 2024
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of Rose Hall Properties LLP (registered number OC419361) were approved by the
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Rose Hall Properties LLP
Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024
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 accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
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 Rose Hall Properties LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
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.
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.
Rose Hall Properties LLP
Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024
Tangible fixed assets
Individual fixed assets are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Long Leasehold |
1% on cost |
Fixtures and fittings |
25% on reducing balance |
Fixed asset investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Pensions and other post retirement obligations
The partnership operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.
Rose Hall Properties LLP
Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024
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.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the period was
Rose Hall Properties LLP
Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024
Tangible fixed assets |
Long leasehold land and buildings |
Fixtures and fittings |
Office equipment |
Total |
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Cost |
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At 1 May 2023 |
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Additions |
- |
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At 31 March 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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At 31 March 2024 |
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Net book value |
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At 31 March 2024 |
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At 30 April 2023 |
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Investments held as fixed assets |
2024 |
2023 |
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Other investments |
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Other financial assets (current and non-current) |
Loan |
Total |
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Non-current financial assets |
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Cost or valuation |
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Additions |
200,000 |
200,000 |
At 31 March 2024 |
200,000 |
200,000 |
Impairment |
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Carrying amount |
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At 31 March 2024 |
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200,000 |
Rose Hall Properties LLP
Notes to the Financial Statements for the Period from 1 May 2023 to 31 March 2024
Debtors |
2024 |
2023 |
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Trade debtors |
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- |
Other debtors |
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Prepayments and accrued income |
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Total current trade and other debtors |
90,771 |
205,407 |
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Trade creditors |
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Other creditors |
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Accruals and deferred income |
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Taxation and social security |
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