| REGISTERED NUMBER: |
| REPORT OF THE MEMBERS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| FRANCOL PROPERTIES LLP |
| REGISTERED NUMBER: |
| REPORT OF THE MEMBERS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| FRANCOL PROPERTIES LLP |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| General Information | 1 |
| Report of the Members | 2 |
| Accountants' Report | 3 |
| Income Statement | 4 |
| Balance Sheet | 5 |
| Reconciliation of Members' Interests | 6 |
| Notes to the Financial Statements | 8 |
| FRANCOL PROPERTIES LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Business Advisors & Accountants |
| Equinox House |
| Clifton Park, Shipton Road |
| York |
| Yorkshire |
| YO30 5PA |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| REPORT OF THE MEMBERS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| The members present their report with the financial statements of the LLP for the year ended 31 August 2024. |
| PRINCIPAL ACTIVITY |
| The principal activity of the LLP in the year under review was that of consultancy services and the holding of investment property. |
| DESIGNATED MEMBERS |
| The designated members during the year under review were: |
| RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
| The profit for the year before members' remuneration and profit shares was £10,703 (2023 - £25,409 profit). |
| MEMBERS' INTERESTS |
| STATEMENT OF MEMBERS' RESPONSIBILITIES |
| The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
| Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
| The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| ON BEHALF OF THE MEMBERS: |
| ACCOUNTANTS' REPORT TO THE MEMBERS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| FRANCOL PROPERTIES LLP |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company from the company's accounting records and from information and explanations you have given us. |
| This report is made solely to the Members of the company, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Members of the company, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Members, as a body, for our work or for this report. |
| It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of the company. You consider that the company is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Business Advisors & Accountants |
| Equinox House |
| Clifton Park, Shipton Road |
| York |
| Yorkshire |
| YO30 5PA |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| (27,757 | ) | (13,392 | ) |
| Other operating income |
| OPERATING PROFIT and |
| PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS | 718,530 | 1,366,313 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
9 |
718,530 |
1,366,313 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 9 | 718,530 | 1,366,313 |
| 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 |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| RECONCILIATION OF MEMBERS' INTERESTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| EQUITY | DEBT | TOTAL |
| Members' | Loans and other debts due to | MEMBERS' |
| other | members less any amounts due | INTERESTS |
| interests | from members in debtors |
| Other | Other |
| reserves | amounts | Total |
| £ | £ | £ |
| Amount due to members | 1,366,313 |
| Amount due from members | - |
| Balance at 1 September 2023 | - | 1,366,313 | 1,366,313 |
| Profit for the financial year available for discretionary division among members |
10,703 |
- |
10,703 |
| Members' interests after profit for the year |
10,703 |
1,366,313 |
1,377,016 |
| Other divisions of profit | (10,703 | ) | 10,703 | - |
| Drawings on account and distributions of profit |
- |
(658,486 |
) |
(658,486 |
) |
| Amount due to members | 718,530 |
| Amount due from members | - |
| Balance at 31 August 2024 | - | 718,530 | 718,530 |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| RECONCILIATION OF MEMBERS' INTERESTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| EQUITY | DEBT | TOTAL |
| Members' | Loans and other debts due to | MEMBERS' |
| other | members less any amounts due | INTERESTS |
| interests | from members in debtors |
| Other | Other |
| reserves | amounts | Total |
| £ | £ | £ |
| Amount due to members | 1,359,905 |
| Amount due from members | - |
| Balance at 1 September 2022 | - | 1,359,905 | 1,359,905 |
| Profit for the financial year available for discretionary division among members |
25,409 |
- |
25,409 |
| Members' interests after profit for the year |
25,409 |
1,359,905 |
1,385,314 |
| Other divisions of profit | (25,409 | ) | 25,409 | - |
| Drawings on account and distributions of profit |
- |
(19,001 |
) |
(19,001 |
) |
| Amount due to members | 1,366,313 |
| Amount due from members | - |
| Balance at 31 August 2023 | - | 1,366,313 | 1,366,313 |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| Francol Properties 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| Depreciation - owned assets |
| FRANCOL PROPERTIES LLP (REGISTERED NUMBER: OC331363) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| 9. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors. |
| 10. | RELATED PARTY DISCLOSURES |
| Included in other debtors as at the balance sheet date is an amount of £3,435 (2023 : £487,713) due from companies associated with the director. Included in other creditors as at the balance sheet date is an amount of £40,718 (2023 : £nil) due from a company associated with the director. |