STLS Developments LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC401452 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

STLS DEVELOPMENTS LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs S J Cummins

Mr L Cummins

Mrs T Walshe

Mr S P Walshe

REGISTERED OFFICE:

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

OC401452 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Investment property

4

425,000

425,000

CURRENT ASSETS

Debtors

2,519

8,530

Cash at bank

42,999

107,061

45,518

115,591

CREDITORS

Amounts falling due within one year

88,733

93,502

NET CURRENT (LIABILITIES)/ASSETS

(43,215

)

22,089

TOTAL ASSETS LESS CURRENT LIABILITIES

381,785

447,089

CREDITORS

Amounts falling due after more than one year

5

320,394

320,394

NET ASSETS ATTRIBUTABLE TO MEMBERS

61,391

126,695

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

61,391

126,695

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

61,391

126,695

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 August 2021.

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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.

The financial statements were approved by the members of the LLP and authorised for issue on 26 May 2022 and were signed by:

Mr L Cummins - Designated member

1.	STATUTORY INFORMATION

STLS Developments 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 (£).

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.

The accounts have been prepared on the going concern basis as the members are of the opinion that the LLP will meet its liabilities as and when due, due to the continued support of the members.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2020 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2020

and 31 August 2021

425,000

NET BOOK VALUE

At 31 August 2021

425,000

At 31 August 2020

425,000

Investment property was valued on an open market basis on 31/08/2021 by the designated members.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2021

2020

£

£

Repayable otherwise than by instalments

Bank loans

320,394

320,394

6.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

320,394

320,394

The mortgage is secured by way of a charge on the company's investment property.

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured.

8.	RELATED PARTY DISCLOSURES

At the balance sheet date, the partnership owed £8,759 (2020: £7,286) to Pristine London Limited, a company related by virtue of common members/directors.