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REGISTERED NUMBER: OC442174 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

78 VINCENT STREET LLP

78 VINCENT STREET LLP (REGISTERED NUMBER: OC442174)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


78 VINCENT STREET LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DESIGNATED MEMBERS: R Gerlach
TR - Holding GmbH
The Glaswegian Dog House Ltd
PC Trustees Ltd





REGISTERED OFFICE: 25 St Thomas Street
Winchester
United Kingdom
Hampshire
SO23 9HJ





REGISTERED NUMBER: OC442174 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

78 VINCENT STREET LLP (REGISTERED NUMBER: OC442174)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,125 -
Investment property 5 2,600,000 2,600,000
2,623,125 2,600,000

CURRENT ASSETS
Debtors 6 16,583 93,120
Cash at bank 36,151 52,774
52,734 145,894
CREDITORS
Amounts falling due within one year 7 171,491 99,991
NET CURRENT (LIABILITIES)/ASSETS (118,757 ) 45,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,504,368

2,645,903

CREDITORS
Amounts falling due after more than one
year

8

981,750

1,037,850
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,522,618

1,608,053

78 VINCENT STREET LLP (REGISTERED NUMBER: OC442174)

BALANCE SHEET - continued
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

122,618

208,053

MEMBERS' OTHER INTERESTS
Capital accounts 1,400,000 1,400,000
1,522,618 1,608,053

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 122,618 208,053
Members' other interests 1,400,000 1,400,000
1,522,618 1,608,053

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31st March 2024.

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 financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 30th January 2025 and were signed by:





H A M Denee - Designated member

78 VINCENT STREET LLP (REGISTERED NUMBER: OC442174)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

78 Vincent Street 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 15% on cost

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. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 25,000
At 31st March 2024 25,000
DEPRECIATION
Charge for year 1,875
At 31st March 2024 1,875
NET BOOK VALUE
At 31st March 2024 23,125

The improvements to the buildings were not completed at the year end, therefore no depreciation has been charged in the current year.

78 VINCENT STREET LLP (REGISTERED NUMBER: OC442174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 2,600,000
Additions 50,067
Revaluations (50,067 )
At 31st March 2024 2,600,000
NET BOOK VALUE
At 31st March 2024 2,600,000
At 31st March 2023 2,600,000

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2023 94,217
Cost 2,505,783
2,600,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 90,000
VAT 13,333 -
Prepayments 3,250 3,120
16,583 93,120

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,100 68,753
Trade creditors 86,529 -
VAT - 2,453
Other creditors 24,003 24,003
Accruals and deferred income 4,859 4,782
171,491 99,991

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 981,750 1,037,850

78 VINCENT STREET LLP (REGISTERED NUMBER: OC442174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,037,850 1,093,950

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 122,618 208,053

Falling due within one year 122,618 208,053

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.
There is no provision for specific legally enforceable protection afforded to creditors in such an event.
There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.

11. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 47,688 47,688