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 2021

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 2021.

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 profit for the year before members' remuneration and profit shares was £76,549 (2020 - £103,387 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

T Emiantor - Designated member

27 September 2021

TURNOVER

105,219

149,156

Administrative expenses

26,882

42,847

OPERATING PROFIT

78,337

106,309

Interest payable and similar expenses

1,788

2,922

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

76,549

103,387

FIXED ASSETS

Tangible assets

4

1,036,411

CURRENT ASSETS

Debtors

5

18,000

24,518

Cash at bank and in hand

126,698

161,375

144,698

185,893

CREDITORS

Amounts falling due within one year

6

16,793

61,825

NET CURRENT ASSETS

127,905

124,068

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,164,316

1,160,479

CREDITORS

Amounts falling due after more than one
year

7

106,991

132,703

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,057,325

1,027,776

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

719,066

689,517

MEMBERS' OTHER INTERESTS

Capital accounts

338,259

1,057,325

1,027,776

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

719,066

689,517

Members' other interests

338,259

1,057,325

1,027,776

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 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 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 27 September 2021 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 (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 April 2020

and 31 March 2021

1,034,302

49,629

1,083,931

DEPRECIATION

At 1 April 2020

and 31 March 2021

-

47,520

NET BOOK VALUE

At 31 March 2021

1,034,302

2,109

1,036,411

At 31 March 2020

1,034,302

2,109

1,036,411

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Other debtors

18,000

24,518

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade creditors

-

1,298

Taxation and social security

1,544

4,275

Other creditors

15,249

56,252

16,793

61,825

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Other creditors

106,991

132,703

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.