Chapel Place LLP - LLP accounts 20.1

REGISTERED NUMBER: OC328799 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CHAPEL PLACE LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

T Fosberry

D Marx

T Emiantor

REGISTERED OFFICE:

Westminster House

9 Chapel Place

Rivington Street

London

EC2A 3DQ

REGISTERED NUMBER:

OC328799 (England and Wales)

ACCOUNTANTS:

Westminster Accountancy Ltd

Accountants

Westminster House

9 Chapel Place

Rivington Street

London

EC2A 3DQ

The members present their report with the financial statements of the LLP for the year ended 31 March 2022.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of general business activity.

DESIGNATED MEMBERS

The designated members during the year under review were:

T Fosberry

D Marx

T Emiantor

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £7,286 (2021 - £76,549 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

T Emiantor - Designated member

21 October 2022

TURNOVER

64,806

105,219

Administrative expenses

70,663

26,882

OPERATING (LOSS)/PROFIT

(5,857

)

78,337

Interest payable and similar expenses

1,429

1,788

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

(7,286

)

76,549

FIXED ASSETS

Tangible assets

4

1,036,411

CURRENT ASSETS

Debtors

5

44,997

18,000

Cash at bank and in hand

91,174

126,698

136,171

144,698

CREDITORS

Amounts falling due within one year

6

44,123

16,793

NET CURRENT ASSETS

92,048

127,905

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,128,459

1,164,316

CREDITORS

Amounts falling due after more than one
year

7

78,420

106,991

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,050,039

1,057,325

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

711,780

719,066

MEMBERS' OTHER INTERESTS

Capital accounts

338,259

1,050,039

1,057,325

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

711,780

719,066

Members' other interests

338,259

1,050,039

1,057,325

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 2022.

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 21 October 2022 and were signed by:

T Emiantor - Designated member

1.	STATUTORY INFORMATION

Chapel Place 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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2021

and 31 March 2022

1,034,302

49,629

1,083,931

DEPRECIATION

At 1 April 2021

and 31 March 2022

-

47,520

NET BOOK VALUE

At 31 March 2022

1,034,302

2,109

1,036,411

At 31 March 2021

1,034,302

2,109

1,036,411

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Other debtors

44,997

18,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

Taxation and social security

1,544

Other creditors

42,579

15,249

44,123

16,793

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2022

2021

£

Other creditors

78,420

106,991

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to Members must be considered in relation to debts due to other creditors.