Registered number: OC447452
Unaudited financial statements
for the period ended 31 May 2024
for
Southgate 12 Limited Liability Partnership
Pages for filing with the Registrar
Registered number: OC447452
Southgate 12 Limited Liability Partnership
Balance sheet
as at 31 May 2024
Note £ £
Fixed assets
Tangible assets 4 1,899,998
1,899,998
Current assets
Debtors (395)
Cash at bank and in hand 5,544
5,149
Creditors: amounts falling due within one
year
(10,839)
Net current liabilities (5,690)
Total assets less current liabilities 1,894,308
Creditors: Amounts falling due after more
than one year
(1,288,905)
NET ASSETS ATTRIBUTABLE TO
MEMBERS
605,403
Represented by:
Loans and other debts due to members
Members' capital classified as a liability 605,403
605,403
Members' total interests
Loans and other debts due to members 605,403
605,403
The LLP was entitled to exemption from audit under section 477 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 small LLPs for the period ended 31 May 2024.
The members acknowledge their responsibilities to comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 in respect to accounting records and the preparation of financial statements.
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Registered number: OC447452
Southgate 12 Limited Liability Partnership
Balance sheet - continued
as at 31 May 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the members and authorised for issue on 16 April 2025 and signed on their behalf by:
53 King Street Llp, Designated Member
16 April 2025
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Southgate 12 Limited Liability Partnership
Notes to the financial statements
for the period ended 31 May 2024
1 General information
Southgate 12 Limited Liability Partnership is a limited liability partnership registered in England and Wales. Its registered number is OC447452. Its registered office is 53 King Street, Manchester, Lancashire, M2 4LQ.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships and the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the members have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the LLP's ability to continue as a going concern. In making this assessment, the members take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The members consider that the LLP has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - Not decpreciated
Members' transactions with the LLP
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to
3 Average number of employees
During the period the average number of employees was Nil.
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Southgate 12 Limited Liability Partnership
Notes to the financial statements - continued
for the period ended 31 May 2024
4 Tangible fixed assets
Land and
buildings
£
Cost
Additions 1,900,000
At 31 May 2024 1,900,000
Depreciation
Charge for period 2
At 31 May 2024 2
Net book value
At 31 May 2024 1,899,998
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