Ferry Street Llp - Accounts to registrar (filleted) - small 18.2

Ferry Street Llp - Accounts to registrar (filleted) - small 18.2

FERRY STREET LLP - Company Information

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REGISTERED NUMBER: OC333209 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

FERRY STREET LLP
FERRY STREET LLP (REGISTERED NUMBER: OC333209)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2021




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


FERRY STREET LLP

GENERAL INFORMATION
for the year ended 31 July 2021







DESIGNATED MEMBERS: Mr L J Davis
Mr A J Davis
Mr J S Davis





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: OC333209 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD
Page 1
FERRY STREET LLP (REGISTERED NUMBER: OC333209)

ABRIDGED BALANCE SHEET
31 July 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,435,000 2,435,000

CURRENT ASSETS
Debtors 756,352 700,557
Cash at bank 24,493 60,826
780,845 761,383
CREDITORS
Amounts falling due within one year 655,857 616,481
NET CURRENT ASSETS 124,988 144,902
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,559,988
2,579,902

CREDITORS
Amounts falling due after more than one
year
5
1,497,180
1,506,567
NET ASSETS ATTRIBUTABLE TO
MEMBERS
1,062,808
1,073,335

LOANS AND OTHER DEBTS DUE TO
MEMBERS
928
11,455

MEMBERS' OTHER INTERESTS
Fair value reserve 1,061,880 1,061,880
1,062,808 1,073,335

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 928 11,455
Members' other interests 1,061,880 1,061,880
Amounts due from members (4,895 ) -
1,057,913 1,073,335

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 July 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 notes form part of these financial statements

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FERRY STREET LLP (REGISTERED NUMBER: OC333209)

ABRIDGED BALANCE SHEET - continued
31 July 2021


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 July 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 October 2022 and were signed by:





Mr J S Davis - Designated member

The notes form part of these financial statements

Page 3
FERRY STREET LLP (REGISTERED NUMBER: OC333209)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2021

1. STATUTORY INFORMATION

Ferry Street 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 as modified by the revaluation of certain assets.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2020 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2020
and 31 July 2021 2,435,000
NET BOOK VALUE
At 31 July 2021 2,435,000
At 31 July 2020 2,435,000

Investment property was valued on an open market basis on 31 July 2021 by the members.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2021 2020
£    £   
Repayable by instalments
Bank loans 1,457,180 1,466,567

Page 4 continued...
FERRY STREET LLP (REGISTERED NUMBER: OC333209)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2021

6. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 1,507,180 1,507,400

The bank borrowings are secured on the investment property of the company.

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the LLP was owed £23,852 (2020 - £23,852) by Build 2017 Ltd, £9,900 (2020 : nil) by Chigwell Ltd, £16,000 (2020: nil) by New York Development Ltd, £25,000 (2020: nil) by Woodgreen Investments Ltd and £20,000 (2020: £20,000) by Build 46 Limited, companies which are controlled by common members of this LLP.

At the balance sheet date, the LLP owed £216,241 (2020 - £191,241) to Gazeport Limited, £16,000 (2020 - £16,000) to Leytonstone properties LLP, £25,000 (2020 - £25,000) to JAL Investment Ltd, £2,500 (2020 -£2,500) to JSD Properties Ltd and £1,560 (2020 - £3,000) to Anson Road (UK) Ltd, all companies/LLPs controlled by members/directors in common with members of this LLP.

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