Darley Street Properties LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC346304 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

DARLEY STREET PROPERTIES LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Ironmere Limited

Marylebone Securities Limited

Autum Blaze Holdings Ltd.

REGISTERED OFFICE:

7-10 (5th Floor)

Chandos Street

London

W1G 9DQ

REGISTERED NUMBER:

OC346304 (England and Wales)

ACCOUNTANTS:

Orcom Civvals Limited

Accountants

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Investment property

4

11,340,000

8,730,001

CURRENT ASSETS

Debtors

5

1,960,657

1,644,495

CREDITORS

Amounts falling due within one year

6

236,223

221,883

NET CURRENT ASSETS

1,724,434

1,422,612

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

13,064,434

10,152,613

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

8,154,684

5,242,863

MEMBERS' OTHER INTERESTS

Capital accounts

4,909,750

4,909,750

13,064,434

10,152,613

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

8,154,684

5,242,863

Members' other interests

4,909,750

4,909,750

13,064,434

10,152,613

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 30 June 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 23 November 2022 and were signed by:

Ironmere Limited - Designated member

1.	STATUTORY INFORMATION

Darley Street Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the total invoice value of rents receivable excluding value added tax

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 (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

8,730,001

Additions

18,049

Revaluations

2,591,950

At 30 June 2022

11,340,000

NET BOOK VALUE

At 30 June 2022

11,340,000

At 30 June 2021

8,730,001

The investment property was valued by the designated members on an open market basis for existing use as at 30 June 2022.

If the investment property had not been revalued it would have been included at a historical cost of £9,071,957 (2021: £9,053,908).

If the investment property was sold at the valuation in these accounts there would be no liability to taxation.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

98,418

105,410

Other debtors

1,862,239

1,539,085

1,960,657

1,644,495

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

15,100

16,766

Other creditors

221,123

205,117

236,223

221,883

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.