REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 29 DECEMBER 2023 |
FOR |
PBI AQABA INDUSTRIAL ESTATE LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2023 TO 29 DECEMBER 2023 |
FOR |
PBI AQABA INDUSTRIAL ESTATE LLP |
PBI AQABA INDUSTRIAL ESTATE LLP (REGISTERED NUMBER: OC303679) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 January 2023 to 29 December 2023 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PBI AQABA INDUSTRIAL ESTATE LLP |
GENERAL INFORMATION |
For The Period 1 January 2023 to 29 December 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
Barrack Road |
REGISTERED NUMBER: |
ACCOUNTANT: |
Equinox House, Clifton Park |
Shipton Road |
York |
Yorkshire |
YO30 5PA |
PBI AQABA INDUSTRIAL ESTATE LLP (REGISTERED NUMBER: OC303679) |
BALANCE SHEET |
29 December 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 2,636,379 | 2,301,013 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 2,014,561 | 1,645,391 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 621,818 | 655,622 |
2,636,379 | 2,301,013 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 2,014,561 | 1,645,391 |
Members' other interests | 621,818 | 655,622 |
2,636,379 | 2,301,013 |
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. |
PBI AQABA INDUSTRIAL ESTATE LLP (REGISTERED NUMBER: OC303679) |
BALANCE SHEET - continued |
29 December 2023 |
The financial statements were approved by the members of the LLP and authorised for issue on |
PBI AQABA INDUSTRIAL ESTATE LLP (REGISTERED NUMBER: OC303679) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 January 2023 to 29 December 2023 |
1. | STATUTORY INFORMATION |
PBI Aqaba Industrial Estate 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 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 |
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation less any estimated residual value, over their expected useful life as follows: |
Factory buildings 25 years straight line |
Infrastructure 25 years straight line |
Motor vehicles 6 - 7 years straight line |
Equipment 5 years straight line |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. |
Financial instruments |
Recognition and Measurement |
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost. |
PBI AQABA INDUSTRIAL ESTATE LLP (REGISTERED NUMBER: OC303679) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2023 to 29 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Members participation rights |
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example in respect of amounts subscribed or otherwise contributed, remuneration and profits). |
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP. |
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities. |
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are on the nature of liabilities. They are therefore treated as an expense in the statement of income and retained earnings in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position. |
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of income and retained earnings and are equity appropriations in the statement of financial position. |
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. |
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts doe to members' and are charged to the statement of income and retained earnings within 'Members remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'. |
Foreign currency |
Transactions in foreign currencies are recorded using the rate of exchange ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated using the rate of exchange ruling at the balance sheet date and the gains and losses on translation are included in the profit and loss account. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the period was |
PBI AQABA INDUSTRIAL ESTATE LLP (REGISTERED NUMBER: OC303679) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 January 2023 to 29 December 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Exchange differences | ( |
) | ( |
) | ( |
) |
At 29 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for period |
Eliminated on disposal | ( |
) | ( |
) |
Exchange differences | ( |
) | ( |
) | ( |
) |
At 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as | restated |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as | restated |
£ | £ |
Trade creditors |
Other creditors |