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Unaudited Financial Statements for the Year Ended 5 April 2022 |
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Kingsmill Reversion Partnership LLP |
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Unaudited Financial Statements for the Year Ended 5 April 2022 |
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Kingsmill Reversion Partnership LLP |
Kingsmill Reversion Partnership LLP (Registered number: OC325303) |
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Contents of the Financial Statements |
for the Year Ended 5 April 2022 |
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Page |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Kingsmill Reversion Partnership LLP |
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General Information |
for the Year Ended 5 April 2022 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Second Floor |
The Fragrance House |
Haydon |
Wells |
Somerset |
BA5 3FF |
Kingsmill Reversion Partnership LLP (Registered number: OC325303) |
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Balance Sheet |
5 April 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
1,327,056 |
1,590,695 |
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LOANS AND OTHER DEBTS DUE
TO MEMBERS |
7 |
1,327,056 |
1,590,695 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to
members |
7 |
1,327,056 |
1,590,695 |
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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. |
Kingsmill Reversion Partnership LLP (Registered number: OC325303) |
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Balance Sheet - continued |
5 April 2022 |
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In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
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The financial statements were approved by the members of the LLP and authorised for issue on
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Kingsmill Reversion Partnership LLP (Registered number: OC325303) |
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Notes to the Financial Statements |
for the Year Ended 5 April 2022 |
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1. | STATUTORY INFORMATION |
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Kingsmill Reversion Partnership LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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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. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2021 |
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Disposals | ( |
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At 5 April 2022 |
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NET BOOK VALUE |
At 5 April 2022 |
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At 5 April 2021 |
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Fair value at 5 April 2022 is represented by: |
£ |
Valuation in 2018 | 1,117,300 |
Valuation in 2021 | 193,334 |
Valuation in 2022 | (218,439 | ) |
Cost | 232,805 |
1,325,000 |
Kingsmill Reversion Partnership LLP (Registered number: OC325303) |
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Notes to the Financial Statements - continued |
for the Year Ended 5 April 2022 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
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7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2022 | 2021 |
£ | £ |
Loans from members | 264,028 | 264,028 |
Amounts owed to members in respect of profits | 1,063,028 | 1,326,667 |
1,327,056 | 1,590,695 |
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Falling due within one year | 1,327,056 | 1,590,695 |
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Loans and debts due to members' (other than members' capital classified as debt) rank after all other creditors. |