Registered number
OC427175
I A RESIDENTIAL LLP
Filleted Accounts
31 March 2024
I A RESIDENTIAL LLP
Registered number: OC427175
Balance Sheet
as at 31 March 2024
2024 2023
£ £
Fixed assets
Tangible assets 550,000 550,000
Current assets
Cash at bank and in hand 17,546 18,031
Creditors: amounts falling due within one year (1,215) (595)
Net current assets 16,331 17,436
Total assets less current liabilities 566,331 567,436
Creditors: amounts falling due after more than one year (439,090) (439,090)
Net assets attributable to members 127,241 128,346
Represented by:
Loans and other debts due to members 111,786 119,963
Members' other interests
Other reserves 15,455 8,383
127,241 128,346
Total members' interests
Loans and other debts due to members 111,786 119,963
Members' other interests 15,455 8,383
127,241 128,346
For the period 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 16 January 2025 and signed on their behalf by:
Dr Amar Bhavsar
Designated member
I A RESIDENTIAL LLP
Notes to the Accounts
for the period from 1 June 2023 to 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.
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
Leasehold land and buildings over the lease term
Plant and machinery 18% reducing balance
Fixtures, fittings, tools and equipment 18% reducing balance
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.
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.
1 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
2 Other information
I A RESIDENTIAL LLP is a limited liability partnership incorporated in England. Its registered office is:
3 Jenny Brough Meadows
Hessle
East Riding Of Yorkshire
England
HU13 0TE
I A RESIDENTIAL LLP OC427175 false 2023-06-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Dr Amar Bhavsar No description of principal activity OC427175 2022-06-01 2023-05-31 OC427175 core:WithinOneYear 2023-05-31 OC427175 core:AfterOneYear 2023-05-31 OC427175 1 2023-05-31 OC427175 core:RetainedEarningsAccumulatedLosses 2023-05-31 OC427175 2023-06-01 2024-03-31 OC427175 bus:LimitedLiabilityPartnershipLLP 2023-06-01 2024-03-31 OC427175 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-03-31 OC427175 bus:PartnerLLP20 2023-06-01 2024-03-31 OC427175 3 2023-06-01 2024-03-31 OC427175 2 2023-06-01 2024-03-31 OC427175 4 2023-06-01 2024-03-31 OC427175 countries:England 2023-06-01 2024-03-31 OC427175 bus:FRS102 2023-06-01 2024-03-31 OC427175 bus:FilletedAccounts 2023-06-01 2024-03-31 OC427175 2024-03-31 OC427175 core:WithinOneYear 2024-03-31 OC427175 core:AfterOneYear 2024-03-31 OC427175 1 2024-03-31 OC427175 core:RetainedEarningsAccumulatedLosses 2024-03-31 OC427175 2023-05-31 iso4217:GBP xbrli:pure