RhOCS Eiddo Ystad LLP - Accounts to registrar (filleted) - small 22.3

RhOCS Eiddo Ystad LLP - Accounts to registrar (filleted) - small 22.3

RHOCS EIDDO YSTAD LLP - Company Information

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REGISTERED NUMBER: OC432932 (England and Wales)












RHOCS EIDDO YSTAD LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2022





Bevan Buckland LLP
Ground Floor
Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA








RHOCS EIDDO YSTAD LLP (REGISTERED NUMBER: OC432932)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

RHOCS EIDDO YSTAD LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DESIGNATED MEMBERS: M W Ingram-Jones
O G Ingram-Jones
R M Ingram-Jones
S Ingram-Jones
D C Ingram-Jones





REGISTERED OFFICE: c/o Morgan Marine Ltd
Llandybie
Ammanford
Carmarthenshire
SA18 3GY





REGISTERED NUMBER: OC432932 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor
Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA
Page 1
RHOCS EIDDO YSTAD LLP (REGISTERED NUMBER: OC432932)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 298,624 333,255
Investment property 5 1,050,011 853,567
1,348,635 1,186,822

CURRENT ASSETS
Debtors 6 23,360 16,711
Cash at bank 27,837 22,221
51,197 38,932
CREDITORS
Amounts falling due within one year 7 423,563 1,200,599
NET CURRENT LIABILITIES (372,366 ) (1,161,667 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
976,269
25,155

LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
976,269
25,155

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 976,269 25,155
Amounts due from members 6 (13,876 ) (9,420 )
962,393 15,735

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 notes form part of these financial statements

Page 2 continued...
RHOCS EIDDO YSTAD LLP (REGISTERED NUMBER: OC432932)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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 19 October 2022 and were signed by:





M W Ingram-Jones - Designated member

The notes form part of these financial statements

Page 3
RHOCS EIDDO YSTAD LLP (REGISTERED NUMBER: OC432932)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

RhOCS Eiddo Ystad 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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Valuation of Investment Properties
The members have considered the current valuation held in the financial statements and are satisfied that any difference in this valuation to current market value is not considered materially sufficient to adjust in these financial statements.

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

Turnover represents restaurant sales and rent receivable, and is accounted for on an accruals basis. All turnover is exclusive of VAT and trade discounts.

The turnover of the LLP is wholly attributable to the principal activities and arises entirely within the United Kingdom.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 10% on cost

Investment property
Investment property is recognised at cost.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Page 4 continued...
RHOCS EIDDO YSTAD LLP (REGISTERED NUMBER: OC432932)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2021 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 350,774
Additions 750
At 31 March 2022 351,524
DEPRECIATION
At 1 April 2021 17,519
Charge for year 35,381
At 31 March 2022 52,900
NET BOOK VALUE
At 31 March 2022 298,624
At 31 March 2021 333,255

5. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2021 853,567
Additions 196,444
At 31 March 2022 1,050,011
NET BOOK VALUE
At 31 March 2022 1,050,011
At 31 March 2021 853,567

The investment properties are currently held at cost in Financial Statements.

The Members have considered the current valuation held in the financial statements and are satisfied that any difference in this valuation to current market value is not considered materially sufficient to adjust in these financial statements.

Page 5 continued...
RHOCS EIDDO YSTAD LLP (REGISTERED NUMBER: OC432932)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 7,035 -
Other debtors 16,325 16,711
23,360 16,711

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 5,937 9,518
Amounts owed to associates 400,600 1,173,492
Taxation and social security 2,193 -
Other creditors 14,833 17,589
423,563 1,200,599

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2022 2021
£    £   
Amounts owed to members in respect of profits 951,269 155
Capital account 25,000 25,000
976,269 25,155

Falling due within one year 976,269 25,155

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of Members' other interests

9. GOVERNMENT GRANTS

During the year the company received government support as part of the Job Retention Scheme during the ongoing pandemic. The total amount received in the year was £21,281.

Page 6
ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RHOCS EIDDO YSTAD LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of RhOCS Eiddo Ystad LLP for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of RhOCS Eiddo Ystad LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of RhOCS Eiddo Ystad LLP and state those matters that we have agreed to state to the members of RhOCS Eiddo Ystad LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RhOCS Eiddo Ystad LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that RhOCS Eiddo Ystad LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of RhOCS Eiddo Ystad LLP. You consider that RhOCS Eiddo Ystad LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of RhOCS Eiddo Ystad LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bevan Buckland LLP
Ground Floor
Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA


19 December 2022

This page does not form part of the statutory financial statements

Page 7