Pipp LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC370676 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

PIPP LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Dr J S Dhariwal

Mrs V K Dhariwal

REGISTERED OFFICE:

24 High Street

Slough

Berkshire

SL1 1EQ

REGISTERED NUMBER:

OC370676 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

FIXED ASSETS

Investment property

4

251,793

251,793

CURRENT ASSETS

Cash at bank

6,139

4,799

CREDITORS

Amounts falling due within one year

5

9,659

10,619

NET CURRENT LIABILITIES

(3,520

)

(5,820

)

TOTAL ASSETS LESS CURRENT LIABILITIES

248,273

245,973

CREDITORS

Amounts falling due after more than one year

6

129,453

138,686

NET ASSETS ATTRIBUTABLE TO MEMBERS

118,820

107,287

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

118,820

107,287

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

118,820

107,287

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 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 6 December 2021 and were signed by:

Dr J S Dhariwal - Designated member

1.	STATUTORY INFORMATION

PIPP 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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

251,793

NET BOOK VALUE

At 31 March 2021

251,793

At 31 March 2020

251,793

Investment property was valued on 31 March 2021 by the Members.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

8,699

8,699

Trade creditors

-

960

Accruals and deferred income

960

960

9,659

10,619

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 1-2 years

8,752

8,752

Bank loans - 2-5 years

27,893

27,893

Bank loans more 5 yr by instal

92,808

102,041

129,453

138,686

31.3.21

31.3.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

92,808

102,041

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

138,152

147,385

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31.3.21

31.3.20

£

£

Amounts owed to members in respect of profits

118,820

107,287

Falling due within one year

118,820

107,287

Loans and other debts due to members', other than members' capital classified as debt rank equally in relation to unsecured other creditors.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Dr J S Dhariwal and Mrs V Dhariwal.