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REGISTERED NUMBER: OC384050 (England and Wales)











FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024

FOR

ALBERT ROAD LLP

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


ALBERT ROAD LLP

GENERAL INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: K L Tizzard
A N Ellis
J E Tizzard





REGISTERED OFFICE: Old Library House
4 Dean Park Crescent
Bournemouth
Dorset
BH1 1LY





REGISTERED NUMBER: OC384050 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 36,656 -
Investment property 5 800,000 800,000
836,656 800,000

CURRENT ASSETS
Debtors 6 140,656 122,408
Cash at bank 7,253 223
147,909 122,631
CREDITORS
Amounts falling due within one year 7 22,642 24,212
NET CURRENT ASSETS 125,267 98,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

961,923

898,419

CREDITORS
Amounts falling due after more than one
year

8

32,987

9,644
NET ASSETS ATTRIBUTABLE TO
MEMBERS

928,936

888,775

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

374,715

334,554

MEMBERS' OTHER INTERESTS
Capital accounts 100 100
Other reserves 554,121 554,121
928,936 888,775

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 374,715 334,554
Members' other interests 554,221 554,221
Amounts due from members 6 (125,801 ) (103,976 )
803,135 784,799

The LLP is 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 for the period ended 31 March 2024.

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.

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 January 2025 and were signed by:





A N Ellis - Designated member

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Albert Road 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
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents rental income, exclusive of Value Added Tax.

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.
Motor vehicles - in accordance with the term of the lease

Fixed assets are initially recognised at cost.

Investment property
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.

In accordance with the provisions of FRS102 freehold investment buildings are not depreciated.

This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The members are of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 40,800
At 31 March 2024 40,800
DEPRECIATION
Charge for period 4,144
At 31 March 2024 4,144
NET BOOK VALUE
At 31 March 2024 36,656

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 40,800
At 31 March 2024 40,800
DEPRECIATION
Charge for period 4,144
At 31 March 2024 4,144
NET BOOK VALUE
At 31 March 2024 36,656

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 31 March 2024 800,000
NET BOOK VALUE
At 31 March 2024 800,000
At 30 April 2023 800,000

ALBERT ROAD LLP (REGISTERED NUMBER: OC384050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

On a historical cost basis the property would have been included at an original cost of £245,879. An appraisal of the investment property has been made by members on a fair value basis as at 31 March 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,855 18,108
Other debtors 125,801 104,300
140,656 122,408

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,056 3,964
Hire purchase contracts 5,288 -
Trade creditors 10,072 11,393
Taxation and social security 2,096 3,558
Other creditors 1,130 5,297
22,642 24,212

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 5,923 9,644
Hire purchase contracts 27,064 -
32,987 9,644

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.