REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
TOBY LANE LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
TOBY LANE LLP |
TOBY LANE LLP (REGISTERED NUMBER: OC382031) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
TOBY LANE LLP |
General Information |
for the year ended 31 March 2024 |
Designated members: |
Registered office: |
Registered number: |
Accountants: |
3rd Floor, Marlborough House |
298 Regents Park Road |
Finchley |
London |
N3 2SZ |
TOBY LANE LLP (REGISTERED NUMBER: OC382031) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investment property | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 7 |
Net assets attributable to members | 1,504,275 | 1,474,366 |
Loans and other debts due to members | 9 | 1,504,275 | 1,474,366 |
Total members' interests |
Loans and other debts due to members | 9 | 1,504,275 | 1,474,366 |
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. |
TOBY LANE LLP (REGISTERED NUMBER: OC382031) |
Balance Sheet - continued |
31 March 2024 |
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
The financial statements were approved by the members of the LLP and authorised for issue on |
TOBY LANE LLP (REGISTERED NUMBER: OC382031) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | Statutory information |
Toby Lane 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 |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
3. | Employee information |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Investment property |
Total |
£ |
Fair value |
At 1 April 2023 |
Revaluations | (30,000 | ) |
At 31 March 2024 |
Net book value |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2017 | 482,168 |
Valuation in 2021 | (180,000 | ) |
Valuation in 2024 | (30,000 | ) |
Cost | 517,832 |
790,000 |
TOBY LANE LLP (REGISTERED NUMBER: OC382031) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | Investment property - continued |
If the investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 517,832 | 517,832 |
Investment property was valued on a fair value basis on 6 December 2023 by Cluttons . |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
8. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by way of a fixed charge against the freehold land and buildings at Toby Lane, London together with all associated fixtures. |
9. | Loans and other debts due to members |
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. |
TOBY LANE LLP (REGISTERED NUMBER: OC382031) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
10. | Related party disclosures |
At the balance sheet date, other debtors due within one year includes a balance of £1,280,027 due from Toby Lane Residential LLP (2023: £1,314,017). During the year, ground rent of £3,150 (2023: £3,150) was receivable from Toby Lane Residential LLP. R V Woolstencroft, P E Williams and A S Brockley are designated members of Toby Lane Residential LLP. |
Included within other creditors is a loan from The Harford Building LLP for the sum of £240,000 (2023: £243,000). R V Woolstencroft, P E Williams and A S Brockley are designated members of The Harford Building LLP. |
Also included within other creditors is a loan from the Harford Building Residential LLP for the sum of £4,000 (2023: £4,000). R V Woolstencroft, P E Williams and A S Brockley are designated members of the Harford Building Residential LLP. |