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Registered number: OC359346
BIRMINGHAM BUSINESS PARK PROPERTIES LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2021
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
REGISTERED NUMBER: OC359346
BALANCE SHEET
AS AT 30 JUNE 2021
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Other reserves classified as equity
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
REGISTERED NUMBER: OC359346
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2021
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 24 June 2022.
The notes on pages 4 to 7 form part of these financial statements.
Birmingham Business Park Properties LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 30 JUNE 2021
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EQUITY
Members' other interests
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Members' capital (classified as equity)
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Profit for the Year available for discretionary division among members
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Members' interests after profit for the Year
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Profit for the Year available for discretionary division among members
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Members' interests after profit for the Year
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There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
Birmingham Business Park Properties LLP is a limited liability partnership, incorporated in England and Wales. The registered office is Upminster Court, 133 Hall Lane, Upminster, Essex, United Kingdom, B37 7YE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental Income
Rental income from operating leases (net of incentives given to the lessees) is recognised on a straight line basis over the term of the lease.
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
2.Accounting policies (continued)
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The company has no employees during the year (2020: £NIL).
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Freehold investment property
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The 2021 valuations were made by the members, on an open market value for existing use basis.
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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BIRMINGHAM BUSINESS PARK PROPERTIES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
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Related party transactions
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During the year, the company received rent of £322,578 (2020: £312,533) from an entity under common control.
At the year end the following amounts were due from/(to) the related parties:
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Entities under common control
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The members, Iain Liddell and Paul Carlile, consider themselves to be the ultimate controlling party.
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