Granite Property Partners LLP - LLP accounts 22.3

Granite Property Partners LLP - LLP accounts 22.3

GRANITE PROPERTY PARTNERS LLP - Company Information

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REGISTERED NUMBER: OC300257 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Granite Property Partners LLP
Granite Property Partners LLP (Registered number: OC300257)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Report of the Members 2

Chartered Certified Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


Granite Property Partners LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: K C Owen
I D Lipman





REGISTERED OFFICE: 114a Cromwell Road
Kensington
London
SW7 4AG





REGISTERED NUMBER: OC300257 (England and Wales)





ACCOUNTANTS: Pabs Consultancy Limited
39A Joel Street
Northwood Hills
Middlesex
HA6 1NZ
Page 1
Granite Property Partners LLP (Registered number: OC300257)

Report of the Members
for the Year Ended 31 March 2023

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

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the provision of property consultancy services and property management, development and investment.

DESIGNATED MEMBERS
The designated members during the year under review were:

K C Owen
I D Lipman

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £266 (2022 - £1,707 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

ON BEHALF OF THE MEMBERS:





I D Lipman - Designated member


15 November 2023

Page 2
Chartered Certified Accountants' Report to the Members
on the Unaudited Financial Statements of
Granite Property Partners LLP


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 Granite Property Partners LLP for the year ended 31 March 2023 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the members of Granite Property Partners 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 Granite Property Partners LLP and state those matters that we have agreed to state to the members of Granite Property Partners LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Granite Property Partners 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 Granite Property Partners LLP. You consider that Granite Property Partners 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 Granite Property Partners 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.






Pabs Consultancy Limited
39A Joel Street
Northwood Hills
Middlesex
HA6 1NZ


15 November 2023

This page does not form part of the statutory financial statements

Page 3
Granite Property Partners LLP (Registered number: OC300257)

Income Statement
for the Year Ended 31 March 2023

2023 2022
£    £   

TURNOVER 12,940 24,000

Administrative expenses 12,674 22,293
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS



266



1,707

The notes form part of these financial statements

Page 4
Granite Property Partners LLP (Registered number: OC300257)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 4 28,193 24,326
Cash at bank 2,199 5,907
30,392 30,233
CREDITORS
Amounts falling due within one
year
5
1,378
1,485
NET CURRENT ASSETS 29,014 28,748
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
29,014
28,748

LOANS AND OTHER DEBTS DUE TO
MEMBERS
6
29,014
28,748

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members
6
29,014
28,748

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 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 15 November 2023 and were signed by:




I D Lipman - Designated member




K C Owen - Designated member


The notes form part of these financial statements

Page 5
Granite Property Partners LLP (Registered number: OC300257)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Granite Property Partners 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.

Consolidation

The LLP and its subsidiary undertakings comprise a small group. The LLP has taken advantage of the exemption provided by Section 405 of the Companies Act 1985 not to prepare group accounts.

Turnover
Turnover represents the value of services supplied during the year, excluding value added tax.

3. EMPLOYEE AND MEMBERS

The average number of employees during the year was 2 (2022 - NIL ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,150 24,000
Other debtors 43 326
28,193 24,326

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 216 -
Other creditors 1,162 1,485
1,378 1,485

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loan and other debts due to Members rank parri-passu to other creditors.

Page 6