IM & SL Thomas LLP - Accounts to registrar (filleted) - small 23.1.5

IM & SL Thomas LLP - Accounts to registrar (filleted) - small 23.1.5

IM & SL THOMAS LLP - Company Information

Print Friendly Version

IRIS Accounts Production v23.1.5.20 OC416515 designated member designated member 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC4165152022-03-31OC4165152023-03-31OC4165152022-04-012023-03-31OC4165152021-03-31OC4165152021-04-012022-03-31OC4165152022-03-31OC416515ns16:EnglandWales2022-04-012023-03-31OC416515ns15:PoundSterling2022-04-012023-03-31OC416515ns11:Director12022-04-012023-03-31OC416515ns11:Director22022-04-012023-03-31OC416515ns11:LimitedLiabilityPartnershipLLP2022-04-012023-03-31OC416515ns11:SmallEntities2022-04-012023-03-31OC416515ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-31OC416515ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31OC416515ns11:LimitedLiabilityPartnershipsSORP2022-04-012023-03-31OC416515ns11:FullAccounts2022-04-012023-03-31OC416515ns11:RegisteredOffice2022-04-012023-03-31OC416515ns6:CurrentFinancialInstruments2023-03-31OC416515ns6:CurrentFinancialInstruments2022-03-31OC416515ns6:Non-currentFinancialInstruments2023-03-31OC416515ns6:Non-currentFinancialInstruments2022-03-31OC416515ns6:Secured2023-03-31OC416515ns6:Secured2022-03-31
REGISTERED NUMBER: OC416515 (England and Wales)












IM & SL THOMAS LLP
TRADING AS
EPLS

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






IM & SL THOMAS LLP (REGISTERED NUMBER: OC416515)
TRADING AS EPLS

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 5


IM & SL THOMAS LLP
TRADING AS EPLS

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mrs S L Thomas
I M Thomas





REGISTERED OFFICE: 209 Goldhawk Road
London
W12 8EP





REGISTERED NUMBER: OC416515 (England and Wales)
Page 1
IM & SL THOMAS LLP (REGISTERED NUMBER: OC416515)
TRADING AS EPLS

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,860,000 1,550,947

CURRENT ASSETS
Cash at bank 19,257 21,381

CREDITORS
Amounts falling due within one year 5 (96,160 ) (907,080 )
NET CURRENT LIABILITIES (76,903 ) (885,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,783,097
665,248

CREDITORS
Amounts falling due after more than one
year
6
(775,334
)
-
NET ASSETS ATTRIBUTABLE TO
MEMBERS
1,007,763
665,248

The notes form part of these financial statements

Page 2 continued...
IM & SL THOMAS LLP (REGISTERED NUMBER: OC416515)
TRADING AS EPLS

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS
8
686,288
343,773

MEMBERS' OTHER INTERESTS
Capital accounts 321,475 321,475
1,007,763 665,248

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 686,288 343,773
Members' other interests 321,475 321,475
1,007,763 665,248

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 2023.

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 notes form part of these financial statements

Page 3 continued...
IM & SL THOMAS LLP (REGISTERED NUMBER: OC416515)
TRADING AS EPLS

BALANCE SHEET - continued
31 MARCH 2023


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 June 2023 and were signed by:




Mrs S L Thomas - Designated member




I M Thomas - Designated member


The notes form part of these financial statements

Page 4
IM & SL THOMAS LLP (REGISTERED NUMBER: OC416515)
TRADING AS EPLS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

IM & SL Thomas 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 as modified by the revaluation of certain assets.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the LLP. Monetary amounts in these financial statements are rounded to the nearest £1.

Turnover
Turnover represents rental income due for the period.

Investment property
In accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', investment properties are carried at fair value and no depreciation is provided.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,550,947
Revaluations 309,053
At 31 March 2023 1,860,000
NET BOOK VALUE
At 31 March 2023 1,860,000
At 31 March 2022 1,550,947


Page 5 continued...
IM & SL THOMAS LLP (REGISTERED NUMBER: OC416515)
TRADING AS EPLS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 65,885 876,805
Other creditors 30,275 30,275
96,160 907,080

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 775,334 -

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 841,219 876,805

The bank loans are secured by way of a fixed charge over the investment properties.

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 686,288 343,773

Falling due within one year 686,288 343,773

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.

9. RELATED PARTY DISCLOSURES

Motion Picture Solutions Limited is a company in which the designated members are directors. During the year, I M & S L Thomas LLP charged Motion Picture Solutions Limited £117,500 (2022: £117,500) in respect of property rental.

Page 6