REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
BORNSO LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 |
FOR |
BORNSO LLP |
BORNSO LLP (REGISTERED NUMBER: OC400013) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
BORNSO LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MAY 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Create Business Hub |
Ground Floor |
5 Rayleigh Road |
Hutton, Brentwood. |
Essex |
CM13 1AB |
BORNSO LLP (REGISTERED NUMBER: OC400013) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MAY 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 May 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property rental. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £3,701 (2023 - £40,508 profit). |
MEMBERS' INTERESTS |
ON BEHALF OF THE MEMBERS: |
BORNSO LLP (REGISTERED NUMBER: OC400013) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT | 4 |
Interest payable and similar expenses |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
BORNSO LLP (REGISTERED NUMBER: OC400013) |
BALANCE SHEET |
31 MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
267,862 |
271,563 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
267,862 |
271,563 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 267,862 | 271,563 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
BORNSO LLP (REGISTERED NUMBER: OC400013) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2024 |
1. | STATUTORY INFORMATION |
Bornso 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 |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
and 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
BORNSO LLP (REGISTERED NUMBER: OC400013) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Loans |
Trade creditors |
VAT | 6,452 | 6,540 |
Other creditors |
Accruals and deferred income |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2024 | 2023 |
£ | £ |
Amounts owed to members in respect of profits | 267,862 | 271,563 |
Falling due within one year | 267,862 | 271,563 |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. |
There is no provision for specific legally enforceable protection afforded to creditors in such an event. |
There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests' |