REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022 |
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THAT SPACE (LANCASHIRE) LLP |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2022 |
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FOR |
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THAT SPACE (LANCASHIRE) LLP |
THAT SPACE (LANCASHIRE) LLP (REGISTERED NUMBER: OC393429) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st May 2022 |
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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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THAT SPACE (LANCASHIRE) LLP |
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GENERAL INFORMATION |
for the Year Ended 31st May 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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1 City Road East |
Manchester |
M15 4PN |
THAT SPACE (LANCASHIRE) LLP (REGISTERED NUMBER: OC393429) |
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BALANCE SHEET |
31st May 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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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NET ASSETS ATTRIBUTABLE TO MEMBERS | 546,108 | 430,075 |
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LOANS AND OTHER DEBTS DUE TO MEMBERS | 546,108 | 430,075 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 546,108 | 430,075 |
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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. |
THAT SPACE (LANCASHIRE) LLP (REGISTERED NUMBER: OC393429) |
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BALANCE SHEET - continued |
31st May 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 Profit and Loss Account 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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THAT SPACE (LANCASHIRE) LLP (REGISTERED NUMBER: OC393429) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st May 2022 |
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1. | STATUTORY INFORMATION |
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That Space (Lancashire) LLP is a limited liability partnership incorporated in England and Wales, registration number OC393429. The address of the registered office is 1 City Road East, Manchester, M15 4PN and the principal place of business is Riverslea, 11 Vale Road, Bowdon, Cheshire, WA14 3AE. |
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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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Turnover is measured at the fair value of rents received from tenants. |
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Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period which they arise. |
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Tax provisions |
Taxation on the profits of the LLP is solely the liability of individual members. Therefore, neither income tax nor deferred tax arising in respect of the LLP's profit is included in these financial statements. |
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Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
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Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. Bank borrowings are included in creditors |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was
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THAT SPACE (LANCASHIRE) LLP (REGISTERED NUMBER: OC393429) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st May 2022 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st June 2021 |
and 31st May 2022 |
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NET BOOK VALUE |
At 31st May 2022 |
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At 31st May 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
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8. | SECURED DEBTS |
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The company has a fixed and floating charge dated 3rd September 2015 over the undertaking and all property and assets present and future and contains a negative pledge. |
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The company also has a fixed and floating charge dated 4th September 2015 over a property included in investments property and contains a negative pledge. |
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The company entered into a fixed and floating charge dated 28th February 2019 over a property acquired which contains a negative pledge and is also included in investments property. |