Acorah Software Products - Accounts Production 16.2.850 false true true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 OC398991 Mr Phillip Ingman Mr Anil Rai iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC398991 2023-04-05 OC398991 2024-04-05 OC398991 2023-04-06 2024-04-05 OC398991 frs-core:CurrentFinancialInstruments 2024-04-05 OC398991 frs-core:Non-currentFinancialInstruments 2024-04-05 OC398991 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-05 OC398991 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-06 2024-04-05 OC398991 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-05 OC398991 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC398991 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-06 2024-04-05 OC398991 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 OC398991 frs-bus:SmallEntities 2023-04-06 2024-04-05 OC398991 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC398991 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 OC398991 frs-countries:EnglandWales 2023-04-06 2024-04-05 OC398991 frs-bus:PartnerLLP1 2023-04-06 2024-04-05 OC398991 frs-bus:PartnerLLP2 2023-04-06 2024-04-05 OC398991 2022-04-05 OC398991 2023-04-05 OC398991 2022-04-06 2023-04-05 OC398991 frs-core:CurrentFinancialInstruments 2023-04-05 OC398991 frs-core:Non-currentFinancialInstruments 2023-04-05
Registered number: OC398991
Shankly Hotel LLP
Financial Statements
For The Year Ended 5 April 2024
SAWHNEY CONSULTING
Harrow Business Center
429 - 433 Pinner Road
North Harrow
HA1 4HN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC398991
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,981,197 3,150,188
2,981,197 3,150,188
CURRENT ASSETS
Debtors 5 11,932 876
Cash at bank and in hand 1,674 896
13,606 1,772
Creditors: Amounts Falling Due Within One Year 6 (258,060 ) (421,093 )
NET CURRENT ASSETS (LIABILITIES) (244,454 ) (419,321 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,736,743 2,730,867
Creditors: Amounts Falling Due After More Than One Year 7 (2,275,000 ) (1,738,643 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 461,743 992,224
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability (242,654) 1,774,728
(242,654) 1,774,728
Equity
Members' other interests
Members' capital 871,767 -
Other reserves (167,370) (782,504)
704,397 (782,504)
461,743 992,224
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year (242,654) 1,774,728
Members' other interests 704,397 (782,504)
461,743 992,224
Page 1
Page 2
For the year ending 5 April 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 Phillip Ingman
Designated Member
17 April 2025
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
Shankly Hotel LLP is a limited liability partnership, incorporated in England & Wales, registered number OC398991 . The Registered Office is 128 Buckingham Palace Road, London, SW1W 9SA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships
2.2. Going Concern Disclosure
We approve the accounts to be prepared on a going concern basis (i.e. 12 months from the day of signing the accounts) even though the operator Signature Living Hotel Limited is in administration and the loan of £ 2,275,000 as of the balance sheet date is due to the Operator.The members have assured their support to assist the partnership by providing funds to meet the additional ongoing financial commitments. Members are constantly in communication with the administrator for selling the property to achieve the maximum value of the company assets which will enable the disposal proceeds to exceed the partnership liabilities.
2.3. Turnover
Turnover is measured at the fair value of the rent received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rent.Turnover from the rent is recognised by reference to the receipt of rent as of the services already provided to the customers.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Leasehold 26 Years
2.5. Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
2.6. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.7. Members' capital
Members' loan amounting to £2,155,900 were converted to Member's Capital as equity amountingto £871,767 and exceptional item (member's loan written off) amounting to £1,284,132.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Leasehold
£
Cost
As at 6 April 2023 4,377,818
As at 5 April 2024 4,377,818
...CONTINUED
Page 3
Page 4
Depreciation
As at 6 April 2023 1,227,630
Provided during the period 168,991
As at 5 April 2024 1,396,621
Net Book Value
As at 5 April 2024 2,981,197
As at 6 April 2023 3,150,188
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 11,932 876
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,642 -
Other creditors 242,418 271,003
Taxation and social security - 150,090
258,060 421,093
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loan 2,275,000 1,738,643
Page 4