Registered No. NC000469 (Northern Ireland)
Mar Lodge Ballyholme LLP
Unaudited accounts
for the year ended 31 March 2021
Mar Lodge Ballyholme LLP
Statement of financial position
as at
31 March 2021
Tangible assets
29,284
43,874
Investment property
290,345
290,345
Cash at bank and in hand
42,767
12,949
Creditors: amounts falling due within one year
(147,190)
(236,464)
Net current liabilities
(103,622)
(221,063)
Total assets less current liabilities
216,007
113,156
Creditors: amounts falling due after more than one year
(170,562)
-
Net assets attributable to members
45,445
113,156
Loans and other debts due to members
45,445
113,156
Loans and other debts due to members
45,445
113,156
For the year ending 31 March 2021 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 9 November 2021.
Mr Andrew Peter Stephens
Designated member
Limited Liability Partnership Registration No. NC000469
Mar Lodge Ballyholme LLP
Notes to the Accounts
for the year ended 31 March 2021
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The accounts are presented in £ sterling.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Straight line
Fixtures & fittings
15% Straight line
Computer equipment
15% Straight line
Ranking in the event of winding up
The limited Liability Partnership had no material capital commitments at the year-ended 31 March 2021.
The partners believe that the partnership Mar Lodge Ballyholme LLP has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the partnership continues to adopt the going concern basis in preparation of its financial statements.
Investment property is measured at fair value with changes in fair value recognised in the Profit and Loss Account. Revalued investment properties are not depreciated or amortised.
Not depreciating or amortising property is a departure from the requirement of Company Law to provide depreciation on all fixed assets which have a limited useful life. However, these investment properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. If depreciation were to be provided it would be provided at a rate of 4% Straight line per annum on the revalued amount.
Mar Lodge Ballyholme LLP is a limited liability partnership, incorporated in Northern Ireland, registration number NC000469. Its registered office is The Office Dock , Unit 2, Channel Wharf, 21 Old Channel Road, Belfast, BT3 9DE.
Mar Lodge Ballyholme LLP
Notes to the Accounts
for the year ended 31 March 2021
3
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
56,825
4,208
3,788
64,821
At 31 March 2021
56,825
4,208
3,980
65,013
At 1 April 2020
14,207
4,208
2,532
20,947
Charge for the year
14,206
-
576
14,782
At 31 March 2021
28,413
4,208
3,108
35,729
At 31 March 2021
28,412
-
872
29,284
At 31 March 2020
42,618
-
1,256
43,874
4
Investment property
2021
Fair value at 1 April 2020
290,345
5
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
16,797
-
Trade creditors
2,604
878
Taxes and social security costs
16,882
5,869
Other creditors
3,357
138,207
6
Creditors: amounts falling due after more than one year
2021
2020
7
Loans and other debts due to members
2021
2020
Amounts due to members in respect of profits
45,445
113,156
Amounts falling due within one year
45,445
113,156
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
8
Post balance sheet events
After the year end Matrix Planning Consultancy Limited resigned as a LLP member on the 6th October, on the same date Trawangan Limited was appointed as a LLP member.
Mar Lodge Ballyholme LLP
Notes to the Accounts
for the year ended 31 March 2021
9
Average number of employees
During the year the average number of employees was 1 (2020: 1).