Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC380185 Mr D M Bernard Mrs A M Bernard Mr D M Bernard true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC380185 2023-03-31 OC380185 2024-03-31 OC380185 2023-04-01 2024-03-31 OC380185 frs-core:CurrentFinancialInstruments 2024-03-31 OC380185 frs-core:Non-currentFinancialInstruments 2024-03-31 OC380185 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC380185 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC380185 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC380185 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC380185 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC380185 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC380185 1 2023-04-01 2024-03-31 OC380185 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC380185 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC380185 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC380185 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 OC380185 2022-03-31 OC380185 2023-03-31 OC380185 2022-04-01 2023-03-31 OC380185 frs-core:CurrentFinancialInstruments 2023-03-31 OC380185 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC380185
Bernard Properties LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC380185
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 10,046,656 10,046,656
10,046,656 10,046,656
CURRENT ASSETS
Debtors 5 1,041,405 1,016,126
Cash at bank and in hand 1,248,332 498,724
2,289,737 1,514,850
Creditors: Amounts Falling Due Within One Year 6 (1,240,065 ) (1,264,448 )
NET CURRENT ASSETS (LIABILITIES) 1,049,672 250,402
TOTAL ASSETS LESS CURRENT LIABILITIES 11,096,328 10,297,058
Creditors: Amounts Falling Due After More Than One Year 7 (26,037 ) (3,535,436 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 11,070,291 6,761,622
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 1,265,651 779,169
1,265,651 779,169
Equity
Members' other interests
Members' capital 8,425,834 4,603,647
Revaluation reserve 1,378,806 1,378,806
9,804,640 5,982,453
11,070,291 6,761,622
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 1,265,651 779,169
Members' other interests 9,804,640 5,982,453
11,070,291 6,761,622
Page 1
Page 2
For the year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr D M Bernard
Designated Member
20/12/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bernard Properties LLP is a limited liability partnership, incorporated in England & Wales, registered number OC380185 . The Registered Office is Warren Appartments , 8 A Station Rise, Tulse Hill, London, SE27 9BW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover represents income derived from operating activities and is stated net of value added tax.
2.3. Investment Properties
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.
2.4. Pensions
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 1)
2 1
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 10,046,656
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 8,361,194 8,361,194
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,041,405 1,016,126
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 976,653 1,010,123
Other taxes and social security 6,984 6,757
Other creditors 256,428 247,568
1,240,065 1,264,448
Page 3
Page 4
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 26,037 3,535,436
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans - 3,500,000
8. Secured Creditors
Of the creditors the following amounts are secured.
The bank loans are secured by legal charges over the associated properties.
2024 2023
£ £
Bank loans and overdrafts - 3,543,436
9. Ultimate Controlling Party
The LLP's ultimate controlling party is Mr D M Bernard .
10. Members' other interest
Within members' capital, there is a cumulative revaluation reserves of £306,656 (2023:£306,656).
Page 4