REGISTERED NUMBER: |
Ascot & Ryley LLP |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
REGISTERED NUMBER: |
Ascot & Ryley LLP |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
Ascot & Ryley LLP (Registered number: OC381876) |
Contents of the Financial Statements |
for the year ended 31 March 2025 |
Page |
General Information | 1 |
Report of the Members | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 |
Ascot & Ryley LLP |
General Information |
for the year ended 31 March 2025 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
28 Eaton Avenue |
Matrix Office Park |
Buckshaw Village |
Chorley |
Lancashire |
PR7 7NA |
Ascot & Ryley LLP (Registered number: OC381876) |
Report of the Members |
for the year ended 31 March 2025 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2025. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property investment. |
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 £894 (2024 - £439 loss). |
MEMBERS' INTERESTS |
The policies of the LLP regarding the allocation of profits to members, drawings, on account distributions and subscription and repayment of capital are; |
Members income is derived from their profit share of the profits of the LLP and they are required to make their own provision for pension and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. |
During the year members may receive monthly drawings the level and timing of which are decided by a majority of the members. These drawings represent payments on account of current year profits and are reclaimable from members until profits have been finalised and allocated. |
The capital requirements of the partnership are determined from time to time by a majority of the members voting at a members meeting. |
ON BEHALF OF THE MEMBERS: |
Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
Ascot & Ryley LLP |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Ascot & Ryley LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Ascot & Ryley LLP, 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 Ascot & Ryley LLP and state those matters that we have agreed to state to the members of Ascot & Ryley LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ascot & Ryley LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Ascot & Ryley LLP 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 loss of Ascot & Ryley LLP. You consider that Ascot & Ryley LLP 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 Ascot & Ryley LLP. 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. |
Chartered Accountants |
Ascot & Ryley LLP (Registered number: OC381876) |
Income Statement |
for the year ended 31 March 2025 |
2025 | 2024 |
£ | £ |
TURNOVER |
Administrative expenses |
OPERATING LOSS and |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
Ascot & Ryley LLP (Registered number: OC381876) |
Balance Sheet |
31 March 2025 |
2025 | 2024 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
104,378 |
147,272 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
104,378 |
147,272 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 104,378 | 147,272 |
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 |
Ascot & Ryley LLP (Registered number: OC381876) |
Notes to the Financial Statements |
for the year ended 31 March 2025 |
1. | STATUTORY INFORMATION |
Ascot & Ryley LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
The amounts in the financial statements have been rounded to the nearest £1. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2024 - NIL). |
4. | DEBTORS |
2025 | 2024 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other creditors |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the case of an insolvent winding up the members will rank ‘pari passu’ with other unsecured creditors of the LLP. |