Manroy Properties LLP - LLP accounts 20.1

Manroy Properties LLP - LLP accounts 20.1

MANROY PROPERTIES LLP - Company Information

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IRIS Accounts Production v20.3.0.228 OC344289 designated member 1.4.19 31.3.20 31.3.20 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC3442892019-03-31OC3442892020-03-31OC3442892019-04-012020-03-31OC3442892018-03-31OC3442892018-04-012019-03-31OC3442892019-03-31OC344289ns16:EnglandWales2019-04-012020-03-31OC344289ns15:PoundSterling2019-04-012020-03-31OC344289ns11:Director12019-04-012020-03-31OC344289ns11:LimitedLiabilityPartnershipLLP2019-04-012020-03-31OC344289ns11:SmallEntities2019-04-012020-03-31OC344289ns11:AuditExemptWithAccountantsReport2019-04-012020-03-31OC344289ns11:SmallCompaniesRegimeForAccounts2019-04-012020-03-31OC344289ns11:LimitedLiabilityPartnershipsSORP2019-04-012020-03-31OC344289ns11:FullAccounts2019-04-012020-03-31OC344289ns11:Director22019-04-012020-03-31OC344289ns11:RegisteredOffice2019-04-012020-03-31OC344289ns6:CurrentFinancialInstruments2020-03-31OC344289ns6:CurrentFinancialInstruments2019-03-31OC344289ns6:LandBuildings2019-03-31OC344289ns6:PlantMachinery2019-03-31OC344289ns6:LandBuildings2019-04-012020-03-31OC344289ns6:PlantMachinery2019-04-012020-03-31OC344289ns6:LandBuildings2020-03-31OC344289ns6:PlantMachinery2020-03-31OC344289ns6:LandBuildings2019-03-31OC344289ns6:PlantMachinery2019-03-31


REGISTERED NUMBER: OC344289 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

MANROY PROPERTIES LLP
MANROY PROPERTIES LLP (REGISTERED NUMBER: OC344289)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


MANROY PROPERTIES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DESIGNATED MEMBERS: M Swainbank
R Swainbank





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: OC344289 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ
Page 1
MANROY PROPERTIES LLP (REGISTERED NUMBER: OC344289)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2020

The members present their report with the financial statements of the LLP for the year ended 31 March 2020.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of a property investment partnership.

DESIGNATED MEMBERS
The designated members during the year under review were:

M Swainbank
R Swainbank

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £18,054 (2019 - £19,888 profit).

MEMBERS' INTERESTS
The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members' capital are disclosed in the accounting policies, note 1 of the financial statements.

The members' interests are disclosed in the notes to the financial statements.

ON BEHALF OF THE MEMBERS:





M Swainbank - Designated member


24 November 2020

Page 2
MANROY PROPERTIES LLP (REGISTERED NUMBER: OC344289)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2020

31.3.20 31.3.19
£    £   

TURNOVER 22,400 22,400

Administrative expenses (4,346 ) (2,512 )
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS



18,054



19,888

The notes form part of these financial statements

Page 3
MANROY PROPERTIES LLP (REGISTERED NUMBER: OC344289)

BALANCE SHEET
31 MARCH 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,185 346,185
Investment property 5 350,000 -
396,185 346,185

CREDITORS
Amounts falling due within one year 6 809 809
NET CURRENT LIABILITIES (809 ) (809 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
395,376
345,376

LOANS AND OTHER DEBTS DUE TO
MEMBERS
-
-

MEMBERS' OTHER INTERESTS
Capital accounts 395,376 345,376
395,376 345,376

TOTAL MEMBERS' INTERESTS
Members' other interests 395,376 345,376

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2020.

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 have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 November 2020 and were signed by:





M Swainbank - Designated member

The notes form part of these financial statements

Page 4
MANROY PROPERTIES LLP (REGISTERED NUMBER: OC344289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1. STATUTORY INFORMATION

Manroy 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 have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rents received, excluding value added tax. Turnover is recognised when the company receives the right to consideration.

Tangible fixed assets
No depreciation or amortisation is provided in respect of freehold or leasehold properties having more than 20 years unexpired. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is, in the opinion of the members, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their open market value.

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.

Capital subscription and repayment
The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. Interest is paid on capital at a market rate on the balance outstanding at the year end at the discretion of the members.

Allocation of profits and drawings
The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members.

During the year members draw sums as agreed by the Designated Members, taking into account the partnership's cash requirements for operating and investing activities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2019 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2019 300,000 46,185 346,185
Disposals (300,000 ) - (300,000 )
At 31 March 2020 - 46,185 46,185
NET BOOK VALUE
At 31 March 2020 - 46,185 46,185
At 31 March 2019 300,000 46,185 346,185

Page 5 continued...
MANROY PROPERTIES LLP (REGISTERED NUMBER: OC344289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 300,000
Revaluations 50,000
At 31 March 2020 350,000
NET BOOK VALUE
At 31 March 2020 350,000

Fair value at 31 March 2020 is represented by:

£   
Valuation in 2020 50,000
Cost 300,000
350,000

If Investment property had not been revalued it would have been included at the following historical cost:

31.3.20 31.3.19
£    £   
Cost 300,000 -

Investment property was valued on an open market basis on 31 March 2020 by the members. .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Other creditors 809 809

Page 6