Registered number: OC336086
SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024
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SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
REGISTERED NUMBER:OC336086
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BALANCE SHEET
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Net assets/(liabilities) attributable to members
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SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
REGISTERED NUMBER:OC336086
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BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Other reserves classified as equity
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Loans and other debts due to members
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The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity 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.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 26 March 2025.
The notes on pages 3 to 6 form part of these financial statements.
SJR High Street Student LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
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SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
SJR Retail (Nottingham) LLP (OC336086) is a Limited Liability Partnership incorporated in England and Wales. The registered office is 51 Welbeck Street, London, W1G 9HL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements are prepared on a going concern basis which the Members believe to be
appropriate for the following reasons:-
The LLP is dependent on its Members to fund the development of the properties and carry out its business operations.
Furthermore, the Members have confirmed they will not seek repayment of the loans due to them
until the LLP has sufficient funds to do so.
Rent receivable is recognised in the period for which it relates to. Rent is measured as the fair value of the consideration received or receivable, excluding value added tax.
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Operating leases: the LLP as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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The entity has no employees.
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SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Freehold investment property
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The properties are valued periodically by professional valuers and it is the opinion of the members that the valuations remain appropriate for use at 31 March 2024.
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Prepayments and accrued income
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Cash and cash equivalents
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SJR HIGH STREET STUDENT LLP
Formerly known as SJR Retail (Nottingham) LLP
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due after more than one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
At the year end, the LLP was party to a cross guarantee for a bank facility with SJR Retail LLP and SJR Retail (Torquay) LLP. At the balance sheet date, the contingent liability attributable to SJR Retail LLP amounted to £7,000,000 (2023: £3,745,707) and to SJR Retail (Torquay) LLP amounted to £Nil (2023: £200,000).
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