3L Projects LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC416512 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

3L PROJECTS LIMITED LIABILITY

PARTNERSHIP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr A Kenyon

Ms W Tippett

REGISTERED OFFICE:

3 Elliston Road

Redland

Bristol

BS6 6QF

REGISTERED NUMBER:

OC416512 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

and Statutory Auditor

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

4

4,174

5,566

Investment property

5

1,425,819

946,888

1,429,993

952,454

CURRENT ASSETS

Debtors

6

9,439

3,600

Cash at bank

9,651

1,051

19,090

4,651

CREDITORS

Amounts falling due within one year

7

8,130

4,534

NET CURRENT ASSETS

10,960

117

TOTAL ASSETS LESS CURRENT LIABILITIES

1,440,953

952,571

CREDITORS

Amounts falling due after more than one year

8

530,756

257,018

NET ASSETS ATTRIBUTABLE TO MEMBERS

910,197

695,553

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

910,197

695,553

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

910,197

695,553

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 14 December 2021 and were signed by:

Mr A Kenyon - Designated member

Ms W Tippett - Designated member

1.	STATUTORY INFORMATION

3L Projects Limited Liability Partnership 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.

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment Property is at cost which is considered to be fair value at the year end.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

9,895

DEPRECIATION

At 1 April 2020

4,329

Charge for year

1,392

At 31 March 2021

5,721

NET BOOK VALUE

At 31 March 2021

4,174

At 31 March 2020

5,566

5.	INVESTMENT PROPERTY

Total

£

COST

At 1 April 2020

946,888

Additions

478,931

At 31 March 2021

1,425,819

NET BOOK VALUE

At 31 March 2021

1,425,819

At 31 March 2020

946,888

The Investment Property is currently shown at cost which is considered fair value at the year end

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

9,439

3,600

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

715

Other creditors

8,130

3,819

8,130

4,534

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

530,756

257,018

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

530,756

257,018

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2021

2020

£

£

Amounts owed to members in respect of profits

910,197

695,553

Falling due within one year

910,197

695,553

Loans and other debts due to members' rank pari passu as liabilities alongside all other unsecured liabilities of the firm in the event of a winding up. There are no restrictions or limitations on the ability of members to reduce the amounts of members' other interests.