Registered number:
OC442682
Mastros Landlords LLP
Accounts
5 April 2024
MAT & CO
ACCOUNTANCY SERVICES LTD
Chartered Certified Accountants
Registered Auditors
264 High Street
Beckenham
Kent
BR3 1DZ
Mastros Landlords LLP
Contents
Page
Accountants' report 2
Profit and loss account 3
Balance Sheet 4
Members' interests 5
Notes to the accounts 6 to 7
Administrative expenses 8
Detailed profit and loss account 9
Detailed profit and loss account 10
Mastros Landlords LLP
Report to the members on the preparation of the unaudited statutory accounts of Mastros Landlords LLP for the period ended 5 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by the LLP regulations), we have prepared for your approval the accounts of Mastros Landlords LLP for the period ended 5 April 2024 which comprise the Profit and Loss Account, the Balance Sheet, the Reconciliation of Members' Interests and the related notes from the LLP’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
MAT & CO
ACCOUNTANCY SERVICES LTD
Chartered Certified Accountants
Registered Auditors
264 High Street
Beckenham
Kent
BR3 1DZ
10 January 2025
Mastros Landlords LLP
Profit and Loss Account
for the period from 1 July 2023 to 5 April 2024
2024 2023
£ £
Administrative expenses (797) (1,558)
Operating loss (797) (1,558)
Loss before members' remuneration and profit share (797) (1,558)
Loss for the period available for discretionary division among members (797) (1,558)
Mastros Landlords LLP
Registered number: OC442682
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Creditors: amounts falling due within one year 3 (1,217) (688)
Net current liabilities (1,217) (688)
Total assets less current liabilities (1,217) (688)
Net liabilities attributable to members (1,217) (688)
Represented by:
Members' other interests
Members' capital classified as equity 1,138 870
Other reserves (2,355) (1,558)
(1,217) (688)
(1,217) (688)
Total members' interests
Members' other interests (1,217) (688)
(1,217) (688)
For the period ended 5 April 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 10 January 2025 and signed on their behalf by:
______________________________________________
Mrs. Helen Alexandrou
Designated member
Mastros Landlords LLP
Reconciliation of Members' Interests
for the period from 1 July 2023 to 5 April 2024
£
EQUITY DEBT TOTAL
Members' other interests Loans and other debts due to members
less any amounts due from members
in debtors
Members' capital (classified as equity) Revaluation reserve Other reserves Total Members' capital (classified as debt) Other amounts Total Total members' interests
Balance at 1 July 2023 870 - (1,558) (688) - - - (688)
Profit for the financial period available for discretionary division among members (797) (797) (797)
Members' interests after profit for the year 870 - (2,355) (1,485) - - - (1,485)
Introduced by members 268 268 - - - 268
Balance at 5 April 2024 1,138 - (2,355) (1,217) - - - (1,217)
Mastros Landlords LLP
Notes to the Accounts
for the period from 1 July 2023 to 5 April 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.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,217 688
4 Other information
Mastros Landlords LLP is a limited liability partnership incorporated in England. Its registered office is:
264 High Street
Beckenham
Kent
BR3 1DZ
Mastros Landlords LLP
Administrative expenses
for the period from 1 July 2023 to 5 April 2024
This schedule does not form part of the statutory accounts of the LLP
2024 2023
£ £
General administrative expenses - 270
Legal and professional costs 420 1,020
Other expenses 377 268
797 1,558
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