REGISTERED NUMBER: |
BAY VIEW RETREATS LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
REGISTERED NUMBER: |
BAY VIEW RETREATS LLP |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BAY VIEW RETREATS LLP |
GENERAL INFORMATION |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
MHA House |
Charter Court |
Swansea Enterprise Park |
Swansea |
SA7 9FS |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
BALANCE SHEET |
30 JUNE 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors: amounts falling due within one year |
6 |
Debtors: amounts falling due after more than one year |
6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
29,007 |
568,686 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
29,007 |
568,686 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 29,007 | 568,686 |
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. |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
BALANCE SHEET - continued |
30 JUNE 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 |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Bay View Retreats LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the pound sterling (£) and have been rounded to the nearest pound. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
Going concern |
The LLP finances its working capital by utilising members funds. The Financial Statements have been prepared on a basis other than a going concern. |
The members have stated the assets at recoverable amounts and the liabilities at settlement amounts. |
Significant judgements and estimates |
In the application of the LLP's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
The following are the critical judgements that the members have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. |
Impairment of assets |
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement. |
Provisions and contingencies |
Provisions are recognised when the LLP has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable. |
Turnover and revenue recognition |
Turnover represents the fair value of rents receivable during the year. |
Revenue is recognised in the period to which it relates. |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
3. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Fixtures and fittings | - |
No depreciation has been charged on the Long Leasehold Properties. |
Tangible fixed assets are measured at cost less depreciation. |
Financial instruments |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
Members' remuneration |
Under the members' agreement, of which the LLP is a party, profits/(losses) are split between those that are automatically allocated to members and are in accordance with their profit shares. |
Members automatic allocation of profits are treated as members remuneration charged as an expense. |
Taxation |
Taxation on all the LLP's profits is solely the personal liability of individual members and is not dealt with in these financial statements. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 31 December 2022 |
6. | DEBTORS |
2024 | 2022 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
BAY VIEW RETREATS LLP (REGISTERED NUMBER: OC413840) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2023 TO 30 JUNE 2024 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2022 |
£ | £ |
Amounts owed to members in respect of profits | 29,007 | 568,686 |
Falling due within one year | 29,007 | 568,686 |
The loans and other debts due to members rank parri passu with other creditors. |
The loan from a member is repayable on demand and is interest free in accordance with the members' agreement. |