Stig Properties (Kent) LLP - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: OC435722 (England and Wales)

Unaudited Financial Statements

for the Period 26 February 2021 to 31 March 2022

for

Stig Properties (Kent) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Agravain Advisory Limited

Mrs A L Smith-Thompson

J B Smith Thompson

REGISTERED OFFICE:

Affinity House, Beaufort Court,

Sir Thomas Longley Road

Medway City Estate

Rochester

Kent

ME2 4FD

REGISTERED NUMBER:

OC435722 (England and Wales)

FIXED ASSETS

Investment property

4

4,095,166

CURRENT ASSETS

Debtors

5

183,000

Cash at bank

33,167

216,167

CREDITORS

Amounts falling due within one year

6

487,047

NET CURRENT LIABILITIES

(270,880

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,824,286

CREDITORS

Amounts falling due after more than one year

7

2,851,650

NET ASSETS ATTRIBUTABLE TO MEMBERS

972,636

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

972,636

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

972,636

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 6 June 2023 and were signed by:

J B Smith Thompson - Designated member

1.	STATUTORY INFORMATION

Stig Properties (Kent) 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 at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

4,095,166

At 31 March 2022

4,095,166

NET BOOK VALUE

At 31 March 2022

4,095,166

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

183,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to participating interests

487,047

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

2,851,650

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

£

Amounts owed to members in respect of profits

972,636

Falling due within one year

972,636

The capital element of member interest ranks behind that of all other creditors but loans due to members are secured on the assets of the company and therefore rank behind 1st charge mortgage holders and ahead of unsecured creditors.