Pawletts Investments LLP - LLP accounts 22.3

REGISTERED NUMBER: OC347924 (England and Wales)

PAWLETTS INVESTMENTS LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JANUARY 2023

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

I R Pawlett

S L Pawlett

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

OC347924 (England and Wales)

The members present their report with the financial statements of the LLP for the year ended 31 January 2023.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property rental.

DESIGNATED MEMBERS

The designated members during the year under review were:

I R Pawlett

S L Pawlett

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £8,398 (2022 - £7,807 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

I R Pawlett - Designated member

24 August 2023

TURNOVER

14,542

14,111

Cost of sales

1,114

1,364

GROSS PROFIT

13,428

12,747

Administrative expenses

1,377

2,163

OPERATING PROFIT

12,051

10,584

Interest payable and similar expenses

3,653

2,777

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

8,398

7,807

FIXED ASSETS

Investment property

4

188,189

CURRENT ASSETS

Cash at bank

11,838

8,027

CREDITORS

Amounts falling due within one year

5

46,612

46,613

NET CURRENT LIABILITIES

(34,774

)

(38,586

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

153,415

149,603

CREDITORS

Amounts falling due after more than one year

6

(54,266

)

(58,852

)

PROVISIONS FOR LIABILITIES

(5,700

)

(5,700

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

93,449

85,051

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

81,299

72,901

MEMBERS' OTHER INTERESTS

Revaluation reserve

8

24,300

Other reserves 2

(12,150

)

(12,150

)

93,449

85,051

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

81,299

72,901

Members' other interests

12,150

93,449

85,051

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 January 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 financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 24 August 2023 and were signed by:

I R Pawlett - Designated member

1.	STATUTORY INFORMATION

Pawletts Investments 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 year was 2 (2022 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

and 31 January 2023

188,189

NET BOOK VALUE

At 31 January 2023

188,189

At 31 January 2022

188,189

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

Bank loans and overdrafts

5,221

Other creditors

41,391

41,392

46,612

46,613

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

Bank loans

54,266

58,852

2023

2022

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

33,382

37,968

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans and other debts due to members are due within one year.

8.

RESERVES

Revaluation

reserve

£

At 1 February 2022

and 31 January 2023

24,300