Moss Bank Properties LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC342995 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2021

for

Moss Bank Properties LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

R G Webb

Mrs I M Webb

REGISTERED OFFICE:

Moss Bank Farm

Seven Sisters Lane

Toft

Knutsford

Cheshire

WA16 8TJ

REGISTERED NUMBER:

OC342995 (England and Wales)

ACCOUNTANTS:

Pareto Tax & Wealth LLP

Level 7, Tower 12,

18-22 Bridge Street,

Spinningfields,

Manchester

M3 3BZ

FIXED ASSETS

Investment property

4

2,305,277

2,305,277

CURRENT ASSETS

Debtors

5

1,480

524

Cash at bank

2,487

2,756

3,967

3,280

CREDITORS

Amounts falling due within one year

6

58,750

53,795

NET CURRENT LIABILITIES

(54,783

)

(50,515

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,250,494

2,254,762

CREDITORS

Amounts falling due after more than one year

7

1,398,734

1,426,811

NET ASSETS ATTRIBUTABLE TO MEMBERS

851,760

827,951

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

851,760

827,951

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

851,760

827,951

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 January 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 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 16 October 2021 and were signed by:

R G Webb - Designated member

1.	STATUTORY INFORMATION

Moss Bank Properties 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rental income receivable. Turnover is matched to the period to which the rental period relates with amounts invoiced in advance being recognised as deferred income where appropriate.

Investment property

Investment properties are revalued annually at their open market value. Any aggregate surplus or deficit arising from changes in market value are transferred to a revaluation reserve except where the deficit reduces the property below its historic cost, in which case it is recognised in the profit and loss account.

No depreciation is provided on investment properties which is a departure from the requirements of the Companies act 2006. In the opinion of the members the properties are held primarily for their investment potential, as represented by market value, and to depreciate them would not give a true and fair view.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2020

and 31 January 2021

2,305,277

NET BOOK VALUE

At 31 January 2021

2,305,277

At 31 January 2020

2,305,277

Fair value at 31 January 2021 is represented by:

£

Cost

2,305,277

If investment property had not been revalued it would have been included at the following historical cost:

31.1.21

31.1.20

£

£

Cost

2,305,277

2,305,277

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

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Trade debtors

-

514

Other debtors

1,480

10

1,480

524

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans and overdrafts

56,000

50,000

Other creditors

950

1,995

Accrued expenses

1,800

1,800

58,750

53,795

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.21

31.1.20

£

£

Bank loans - more than 1 year

1,398,734

1,426,811

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.21

31.1.20

£

£

Bank loans

1,454,734

1,476,811

The bank loans are secured against the property asset to which they relate.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.1.21

31.1.20

£

£

Amounts owed to members in respect of profits

851,760

827,951

Falling due within one year

851,760

827,951

Members only take drawings where cash is available and other creditors are not adversely affected.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R G Webb.