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REGISTERED NUMBER: OC400013 (England and Wales)















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: J F Scott
N Scott
K J Culverhouse
D Cole





REGISTERED OFFICE: Create Business Hub
5 Rayleigh Road
Shenfield
Brentwood
Essex
CM13 1AB





REGISTERED NUMBER: OC400013 (England and Wales)





ACCOUNTANTS: Tish Press & Company
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:

J F Scott
N Scott
K J Culverhouse
D Cole

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:





J F Scott - Designated member


2 May 2025

BORNSO LLP (REGISTERED NUMBER: OC400013)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   

TURNOVER 65,633 85,247

Administrative expenses 49,246 43,127
OPERATING PROFIT 4 16,387 42,120


Interest payable and similar expenses 20,088 1,612
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





(3,701





)





40,508

BORNSO LLP (REGISTERED NUMBER: OC400013)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 493,629 506,528

CURRENT ASSETS
Debtors 6 60 60
Cash at bank 30,885 90
30,945 150
CREDITORS
Amounts falling due within one year 7 256,712 235,115
NET CURRENT LIABILITIES (225,767 ) (234,965 )
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 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 year ended 31 May 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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 2 May 2025 and were signed by:





J F Scott - Designated member

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
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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 12,899 17,199

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 454,933 217,427 672,360
DEPRECIATION
At 1 June 2023 - 165,832 165,832
Charge for year - 12,899 12,899
At 31 May 2024 - 178,731 178,731
NET BOOK VALUE
At 31 May 2024 454,933 38,696 493,629
At 31 May 2023 454,933 51,595 506,528

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60 60

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 - 5,330
Loans 237,536 213,337
Trade creditors 2,789 73
VAT 6,452 6,540
Other creditors 9,235 9,235
Accruals and deferred income 700 600
256,712 235,115

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'