Acorah Software Products - Accounts Production 16.2.850 false true false 2 August 2023 31 March 2024 31 March 2024 OC448463 Mrs Deborah Smith Mr Peter Smith iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC448463 2023-08-01 OC448463 2024-03-31 OC448463 2023-08-02 2024-03-31 OC448463 frs-core:CurrentFinancialInstruments 2024-03-31 OC448463 frs-core:Non-currentFinancialInstruments 2024-03-31 OC448463 frs-core:PlantMachinery 2024-03-31 OC448463 frs-core:PlantMachinery 2023-08-02 2024-03-31 OC448463 frs-core:PlantMachinery 2023-08-01 OC448463 frs-bus:LimitedLiabilityPartnershipLLP 2023-08-02 2024-03-31 OC448463 frs-bus:LimitedLiabilityPartnershipsSORP 2023-08-02 2024-03-31 OC448463 frs-bus:FilletedAccounts 2023-08-02 2024-03-31 OC448463 frs-bus:SmallEntities 2023-08-02 2024-03-31 OC448463 frs-bus:AuditExempt-NoAccountantsReport 2023-08-02 2024-03-31 OC448463 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-02 2024-03-31 OC448463 frs-core:Non-currentFinancialInstruments 1 2024-03-31 OC448463 frs-core:CurrentFinancialInstruments 5 2024-03-31 OC448463 frs-countries:EnglandWales 2023-08-02 2024-03-31 OC448463 frs-bus:PartnerLLP1 2023-08-02 2024-03-31 OC448463 frs-bus:PartnerLLP2 2023-08-02 2024-03-31
Registered number: OC448463
Sidegate Properties LLP
Unaudited Financial Statements
For the Period 2 August 2023 to 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC448463
31 March 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 14
Investment Properties 5 4,980,000
4,980,014
CURRENT ASSETS
Debtors 6 14,661
Cash at bank and in hand 306,277
320,938
Creditors: Amounts Falling Due Within One Year 7 (45,424 )
NET CURRENT ASSETS (LIABILITIES) 275,514
TOTAL ASSETS LESS CURRENT LIABILITIES 5,255,528
Creditors: Amounts Falling Due After More Than One Year 8 (2,797,689 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,457,839
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 6,159
Other amounts 379,837
385,996
Equity
Members' other interests
Revaluation reserve 2,071,843
2,071,843
2,457,839
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 385,996
Members' other interests 2,071,843
2,457,839
Page 1
Page 2
For the period ending 31 March 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
Mrs Deborah Smith
Designated Member
Mr Peter Smith
Designated Member
10/09/2024
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
Sidegate Properties LLP is a limited liability partnership, incorporated in England & Wales, registered number OC448463 . The Registered Office is The Aud Bank, Lyons Business Centre, 3 Front Street, Hetton-le-Hole, Tyne and Wear, DH5 9PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL
-
4. Tangible Assets
Plant & Machinery
£
Cost or Valuation
As at 2 August 2023 314
As at 31 March 2024 314
Depreciation
As at 2 August 2023 296
Provided during the period 4
As at 31 March 2024 300
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 14
As at 2 August 2023 18
5. Investment Property
31 March 2024
£
Fair Value
As at 2 August 2023 2,908,157
Revaluations 2,071,843
As at 31 March 2024 4,980,000
6. Debtors
31 March 2024
£
Due within one year
Prepayments and accrued income 14,621
Lovegreen Developments Ltd 40
14,661
7. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Trade creditors 6,021
Bank loans and overdrafts 10,000
Dunelm Propco Ltd 2,754
Accruals and deferred income 26,649
45,424
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Bank loans 18,352
Mortgages 2,779,337
2,797,689
Page 4