REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
The Chatham Property Partnership LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
The Chatham Property Partnership LLP |
The Chatham Property Partnership LLP (Registered number: OC402908) |
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 |
The Chatham Property Partnership LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
Mrs S Silver |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Retreat |
406 Roding Lane South |
Woodford Green |
Essex |
IG8 8EY |
The Chatham Property Partnership LLP (Registered number: OC402908) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
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 | 2,021,039 | 1,707,970 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
2,021,039 |
1,707,970 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 2,021,039 | 1,707,970 |
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. |
The Chatham Property Partnership LLP (Registered number: OC402908) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
The Chatham Property Partnership LLP (Registered number: OC402908) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
The Chatham Property Partnership 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 represents rents receivable, excluding value added tax. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery - 15% on reducing balance |
Motor vehicles - 25% on reducing balance |
Computer equipment - 25% on reducing balance |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The Chatham Property Partnership LLP (Registered number: OC402908) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | INVESTMENT PROPERTY |
In accordance with the FRS102, depreciation has not been charged on investment property. This is a departure from the Companies Act, but necessary to show a true and fair view. The standard depreciation treatment would not give a true and fair view as investment property is unlikely to depreciate in value. |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2023 | 1,915,920 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 1,915,920 | 1,915,920 |
Investment property was valued on an open market basis on 31 March 2024 by Mr R. Silver . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The Chatham Property Partnership LLP (Registered number: OC402908) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Commercial property | 1,915,920 | 1,915,920 |
Lloyds Bank PLC holds a floating charge and negative pledge charge over 1 and 1A Longmoor Lane, Liverpool, Unit 1, 2-5 at 6 Provincial House, Infirmary Street, Bolton and at the financial position date.both fixed and floating charge with negative pledge over Thelford House, Walderslade Centre, Chatham, Kent. |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members have no preferential rank in relation to other creditors. |
11. | RELATED PARTY DISCLOSURES |
Mr. R N Silver and Mrs. S A Silver are considered to be key management personnel. |