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Registered number: OC328483
STARBOARD HOTELS TWO LLP
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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STARBOARD HOTELS TWO LLP
CONTENTS
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Notes to the financial statements
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STARBOARD HOTELS TWO LLP
INFORMATION
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Park House
10 Penn Road
Beaconsfield
Buckinghamshire
HP9 2LH
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Blick Rothenberg Limited
Chartered Accountants
16 Great Queen Street
Covent Garden
London
WC2B 5AH
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STARBOARD HOTELS TWO LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The members present their annual report together with the financial statements of Starboard Hotels Two LLP (the "LLP") for the year ended 31 March 2022.
Principal activities
The LLP did not trade in the year.
Designated Members
The designated members during the year were as follows:
P A Callingham
Noble Trustees Limited
Members' capital and interests
No member is required to pay further capital into the business, subject to a decision of the members holding 60% or more of the voting rights.
Members are permitted to make drawings in anticipation of profits which will be allocated to them.
This report was approved by the members and signed on their behalf by:
P A Callingham
Designated member
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STARBOARD HOTELS TWO LLP
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2022
The LLP has not traded during the year or the preceding financial year. During these periods, the LLP received no income and incurred no expenditure and therefore made neither profit or loss.
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REGISTERED NUMBER:OC328483
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BALANCE SHEET
AS AT 31 MARCH 2022
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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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Loans and other debts due to members within one year
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Members' capital classified as a liability
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Amounts due from members (included in debtors)
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Loans and other debts due to members
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REGISTERED NUMBER:OC328483
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BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022
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 480 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 financial statements were approved and authorised for issue by the members and were signed on their behalf by:
The notes on pages 6 to 8 form part of these financial statements.
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STARBOARD HOTELS TWO LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Starboard Hotels Two LLP is limited liability partnership incorporated in England. Its registered office is 10 Penn Road, Beaconsfield, Buckinghamshire, England, HP9 2LH.
The LLP was dormant (within the meaning of section 480 of the Companies Act 2006) throughout the year ended 31 March 2022. The LLP has not traded during the year or during the preceding financial year.
During these periods, the company received no income and incurred no expenditure and therefore made neither profit or loss.
The financial statements are presented in Sterling (£).
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 and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland ('FRS102') and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The LLP has taken advantage of the exemption in paragraph 35.10(m) and elected to retain its previous accounting policies for reported assets, liabilities and equity at the date of transition to FRS 102 until there is any change to those balances or the company undertakes any new transactions.
After making inquiries, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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STARBOARD HOTELS TWO LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
2.Accounting policies (continued)
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Members' participation rights
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Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the profit and loss account in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the balance sheet.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the profit and loss account and are equity appropriations in the balance sheet.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
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Creditors: amounts falling due within one year
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STARBOARD HOTELS TWO LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Loans and other debts due to members
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Members' capital treated as debt
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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