Asra Management Services LLP - LLP accounts 23.2

REGISTERED NUMBER: OC389131 (England and Wales)

ASRA MANAGEMENT SERVICES LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

R S Vora

Mrs N Vora

R R Vora

REGISTERED OFFICE:

2nd Floor, One Hobbs House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

OC389131 (England and Wales)

ACCOUNTANTS:

Albury Associates Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

The members present their report with the financial statements of the LLP for the year ended 30 November 2022.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of the provision of advice, consultancy and management services to the Health Food Industry.

DESIGNATED MEMBERS

The designated members during the year under review were:

R S Vora

Mrs N Vora

R R Vora

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £6,188 (2021 - £21,684 profit).

MEMBERS' INTERESTS

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cashrequirement of the business. A members capital requirement is linked to their share of profit and the financingrequirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:

R S Vora - Designated member

24 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Asra Management Services LLP for the year ended 30 November 2022 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Asra Management Services LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Asra Management Services LLP and state those matters that we have agreed to state to the members of Asra Management Services LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Asra Management Services LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Asra Management Services LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Asra Management Services LLP. You consider that Asra Management Services LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Asra Management Services LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Albury Associates Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

24 August 2023

TURNOVER

139,779

113,800

Administrative expenses

132,799

99,594

6,980

14,206

Other operating income

-

9,219

OPERATING PROFIT

6,980

23,425

Interest payable and similar expenses

792

1,741

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

6,188

21,684

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

6,188

21,684

Members' remuneration charged as an expense

4

(6,188

)

(21,684

)

PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

-

-

FIXED ASSETS

Investments

5

250,000

250,000

CURRENT ASSETS

Debtors

6

299,611

367,021

Cash at bank

29,828

73,598

329,439

440,619

CREDITORS

Amounts falling due within one year

7

336,486

281,909

NET CURRENT (LIABILITIES)/ASSETS

(7,047

)

158,710

TOTAL ASSETS LESS CURRENT LIABILITIES

242,953

408,710

CREDITORS

Amounts falling due after more than one year

8

26,185

34,730

NET ASSETS ATTRIBUTABLE TO MEMBERS

216,768

373,980

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

177,768

334,980

MEMBERS' OTHER INTERESTS

Capital accounts

39,000

39,000

216,768

373,980

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

177,768

334,980

Members' other interests

39,000

39,000

216,768

373,980

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 November 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 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:

R S Vora - Designated member

1.	STATUTORY INFORMATION

Asra Management Services 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2021 - 4 ) .

4.	INFORMATION IN RELATION TO MEMBERS

2022

2021

£

£

Members' remuneration charged as an expense

Automatic division of profit

6,188

21,684

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2021

and 30 November 2022

250,000

NET BOOK VALUE

At 30 November 2022

250,000

At 30 November 2021

250,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

-

75,000

Other debtors

299,611

292,021

299,611

367,021

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts (see note 9)

9,783

9,573

Trade creditors

1,036

1,839

Taxation and social security

5,271

5,550

Other creditors

320,396

264,947

336,486

281,909

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans (see note 9)

26,185

34,730

9.

LOANS

An analysis of the maturity of loans is given below:

2022

2021

£

£

Amounts falling due within one year or on demand:

Bank loans

9,783

9,573

Amounts falling due between one and two years:

Bank loans

20,315

19,877

Amounts falling due between two and five years:

Bank loans

5,870

14,853

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2022

2021

£

£

Loans from members

145,689

325,688

Amounts owed to members in respect of profits

32,079

9,292

177,768

334,980

Falling due within one year

32,079

9,292

Falling due after more than one year

145,689

325,688

177,768

334,980

Loan and other debts due to members rank in subordination to Other Creditors. Other creditors are unsecured. There are no restrictions on the ability of the Members to reduce the amounts of Members other interests.

11.	RELATED PARTY DISCLOSURES

At the year-end date, included within Other Debtors is an amount of £38,390 (2021: £30,800) due from related entities in which Mr R Vora and Mrs N Vora have beneficial interest.

These amounts are unsecured, interest free and repayable on demand.

At the year-end date, included within Other Creditors is an amount of £396,897 (2021: £261,776) due to related entities in which Mr R Vora and Mrs N Vora have beneficial interest.

These amounts are unsecured, interest-free and payable on demand.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R S Vora, N Vora, and R R Vora.