REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
for |
Real Properties Partnership LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31st March 2024 |
for |
Real Properties Partnership LLP |
Real Properties Partnership LLP (Registered number: OC427526) |
Contents of the Financial Statements |
for the Year Ended 31st March 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
Real Properties Partnership LLP |
General Information |
for the Year Ended 31st March 2024 |
DESIGNATED MEMBERS: |
Real Properties South Ltd |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Biz Hub Tees Valley |
Belasis Hall Technology Park |
Coxwold Way |
Billingham |
Co. Durham |
TS23 4EA |
Real Properties Partnership LLP (Registered number: OC427526) |
Report of the Members |
for the Year Ended 31st March 2024 |
The members present their report with the financial statements of the LLP for the year ended 31st March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property rentals. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
Real Properties South Ltd |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £65,255 (2023 - £88,959 profit). |
MEMBERS' INTERESTS |
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or retirement. Only those members who have contributed capital to the LLP are allocated losses, if the LLP declares a loss in a period. |
ON BEHALF OF THE MEMBERS: |
Real Properties Partnership LLP (Registered number: OC427526) |
Income Statement |
for the Year Ended 31st March 2024 |
2024 | 2023 |
£ | £ |
TURNOVER |
Administrative expenses | ( |
) | ( |
) |
53,739 | 36,793 |
Other operating income |
OPERATING PROFIT |
Interest payable and similar expenses | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
Real Properties Partnership LLP (Registered number: OC427526) |
Balance Sheet |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 709,522 | 670,667 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
- |
670,667 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 709,522 | - |
709,522 | 670,667 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 9 | - | 670,667 |
Members' other interests | 709,522 | - |
709,522 | 670,667 |
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. |
Real Properties Partnership LLP (Registered number: OC427526) |
Balance Sheet - continued |
31st March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
Real Properties Partnership LLP (Registered number: OC427526) |
Notes to the Financial Statements |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Real Properties Partnership 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 |
Land and buildings | - |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Cost or valuation at 31st March 2024 is represented by: |
Land and |
buildings |
£ |
Valuation in 2021 | (65,000 | ) |
Valuation in 2022 | 70,000 |
Cost | 1,580,000 |
1,585,000 |
The members see no real benefit in revaluing the properties. |
Real Properties Partnership LLP (Registered number: OC427526) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Mortgages | 876,410 | 876,613 |
9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Members rank ahead of other creditors in a liquidation. |