Chambers Property Partnership LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC438153 (England and Wales)

Unaudited Financial Statements

For The Period 1 July 2021 to 31 March 2022

for

Chambers Property Partnership LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr J Patel

Mrs K J Patel

Mr N Patel

Mr P V Patel

Mrs Y P Patel

Mrs A R D Tank

REGISTERED OFFICE:

9 Melrose Gardens

Edgware

Middlesex

HA8 5LN

REGISTERED NUMBER:

OC438153 (England and Wales)

ACCOUNTANTS:

RNS Business Solutions Limited

Chartered Accountants

276 Preston Road

Harrow

Middlesex

HA3 0QA

FIXED ASSETS

Tangible assets

4

6,237,500

CURRENT ASSETS

Debtors

5

2,457

Cash in hand

1,354

3,811

CREDITORS

Amounts falling due within one year

6

7,466

NET CURRENT LIABILITIES

(3,655

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,233,845

CREDITORS

Amounts falling due after more than one year

7

2,593,733

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,640,112

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

3,640,112

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

3,640,112

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 period ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2023 and were signed by:

Mr P V Patel - Designated member

1.	STATUTORY INFORMATION

Chambers Property Partnership 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 as the rental income received or receivable, gross of lettings and agents fees.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investments are recognised initially at fair value which is normally the transaction price excluding transactions costs. Subsequently, they are measure at fair value through profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was NIL.

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

6,237,500

At 31 March 2022

6,237,500

NET BOOK VALUE

At 31 March 2022

6,237,500

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

2,457

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

7,466

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Other creditors

2,593,733

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank after all unsecured creditors in the event of a winding up. No legally enforceable protection is afforded to any creditors.