E S Walton (Property) LLP Accounts

E.S. WALTON (PROPERTY) LLP - Company Information






E S Walton (Property) LLP

	Registered No. OC326016
	Information for Filing with the Registrar
		31 March 2023

at	31 March 2023

Registered No.			OC326016	Notes	2023	2022
					£	£
Fixed assets


	Investment property			5	134,272	134,272

					134,272	134,272
Current assets

	Debtors			6	5,000	3,000

	Cash at bank and in hand				4,987	35,955
					9,987	38,955
Creditors: Amounts falling due within one year				7	(85,490)	(85,491)
Net current liabilities					(75,503)	(46,536)
Total assets less current liabilities					58,769	87,736
Creditors: Amounts falling due after more than one year				8	-	(13,000)

Net assets attributable to members					58,769	74,736

Represented by:
	Loans and other debts due to members				8,311	24,278
	Members' other interests
		Members' capital			50,458	50,458


					50,458	50,458

					58,769	74,736



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 March 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit)(Application of Companies Act 2006) Regulations 2008) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 22 December 2023 and signed on its behalf by:
H. Northover
Designated member
22 December 2023

for the year ended 31 March 2023

General information

E S Walton (Property) LLP is a limited liability partnership and incorporated in England and Wales.

Its registered number is: OC326016

Its registered office is:

70 Tradewinds

Liberty Place

Liverpool

L1 5BG

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is rents receivable in the year from investment properties.

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

3	Information in relation to members
		2023	2022
		Number	Number
	The average number of members during the year :	2	2

		2023	2022
		£	£



	Automatic division of profits	5,144	5,806
		5,144	5,806

4	Employees
		2023	2022
		Number	Number

	The average number of persons employed during the year was:	0	0

5	Investment property
		Freehold Investment Property
		£
	Valuation
	At 1 April 2022	134,272



	At 31 March 2023	134,272

6	Debtors
		2023	2022
		£	£




	Other debtors	5,000	3,000

		5,000	3,000

7	Creditors:
	amounts falling due within one year
		2023	2022
		£	£
	Bank loans and overdrafts	-	-
	Other loans	13,035	13,035




	Other creditors	71,727	71,727
	Accruals and deferred income	728	729
		85,490	85,491

8	Creditors:
	amounts falling due after more than one year
		2023	2022
		£	£

	Other loans	-	13,000





		-	13,000

9	Loans and other debts due to members
		2023	2022
		£	£

	Loans from members	(2,445)	(2,445)

	Amounts due to members in respect of profits	10,756	26,723
		8,311	24,278

	Amounts falling due within one year	8,311	-

		8,311	24,278