Deryn Properties (Investment) LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC348146 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2022

for

Deryn Properties (Investment) 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 Deryn Properties (Investment) LLP for the year ended 31 August 2022 which comprise the Profit & Loss Account, 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 Deryn Properties (Investment) 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 Deryn Properties (Investment) LLP and state those matters that we have agreed to state to the members of Deryn Properties (Investment) 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 Deryn Properties (Investment) LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Deryn Properties (Investment) 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 profit of Deryn Properties (Investment) LLP. You consider that Deryn Properties (Investment) 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 Deryn Properties (Investment) 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.

BPU Limited

13 January 2023

FIXED ASSETS

Investment property

3

1,781,750

3,218,787

CURRENT ASSETS

Debtors

4

68,802

138,331

Cash at bank

280,544

289,953

349,346

428,284

CREDITORS

Amounts falling due within one year

5

147,855

210,808

NET CURRENT ASSETS

201,491

217,476

TOTAL ASSETS LESS CURRENT LIABILITIES

1,983,241

3,436,263

CREDITORS

Amounts falling due after more than one year

6

767,486

2,362,900

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,215,755

1,073,363

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

1,215,755

1,073,363

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

1,215,755

1,073,363

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 August 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 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 13 January 2023 and were signed by:

J N Leyland - Designated member

1.	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 represents the invoiced value of goods & services, less related value added tax, in relation to property investment.

Investment properties

The LLP's properties are held for long term investments. The LLP has not revalued the properties as the designated members are of the opinion that the carrying values accurately reflect market value.

2.	EMPLOYEE INFORMATION

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

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 September 2021

3,218,787

Additions

130,475

Disposals

(1,567,512

)

At 31 August 2022

1,781,750

NET BOOK VALUE

At 31 August 2022

1,781,750

At 31 August 2021

3,218,787

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

28,423

13,906

Other debtors

40,379

124,425

68,802

138,331

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Mortgage loan

37,200

109,900

Trade creditors

12,282

11,466

VAT

11,586

18,354

Other creditors

53,512

-

Deferred income

30,000

15,300

Accruals & other creditors

3,275

55,788

147,855

210,808

The mortgage loan is secured over the properties concerned.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other loan

-

250,000

Mortgage loan

767,486

2,112,900

767,486

2,362,900

The mortgage loan is secured over the properties concerned,

The total amount repayable by instalments over more than 5 years is £516,428 (2021

- £1,638,800).

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2022

2021

£

£

Amounts owed to members in respect of profits

1,215,755

1,073,363

Falling due within one year

1,215,755

1,073,363

The loans and other debts due to members rank pari passu with other unsecured creditors in the event of a winding up of the business.