Ellesmere Street LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: OC326703 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

ELLESMERE STREET LLP

Page

General Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DESIGNATED MEMBERS:

N I Abbott

I B Bryning

C M Mcdermott

N D Stones

Unitwin Limited

REGISTERED OFFICE:

4 Burton Place

Castlefield

Manchester

M15 4PT

REGISTERED NUMBER:

OC326703 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

4

-

472,523

Investment property

5

681,723

-

681,723

472,523

CURRENT ASSETS

Debtors

6

49,052

13,281

Cash at bank

28,088

38,040

77,140

51,321

CREDITORS

Amounts falling due within one year

7

54,416

14,035

NET CURRENT ASSETS

22,724

37,286

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

704,447

509,809

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

495,247

509,809

MEMBERS' OTHER INTERESTS

Revaluation reserve

9

209,200

-

704,447

509,809

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

495,247

509,809

Members' other interests

209,200

-

704,447

509,809

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 31st 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 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 6th November 2023 and were signed by:

N D Stones - Designated member

1.	STATUTORY INFORMATION

Ellesmere Street 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the limited liability partnership's accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents rents and service charges receivable net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost and Land is not depreciated

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.

Financial instruments

The following assets are classified as financial instruments - trade debtors, trade creditors, bank loans and members' loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently at amortised cost using the effective interest method.

Members' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

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.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A members' participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors shown as amounts due from members within members' interests.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1st April 2022

681,723

Reclassification/transfer

(681,723

)

At 31st March 2023

-

DEPRECIATION

At 1st April 2022

209,200

Revaluation adjustments

(209,200

)

At 31st March 2023

-

NET BOOK VALUE

At 31st March 2023

-

At 31st March 2022

472,523

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

681,723

At 31st March 2023

681,723

NET BOOK VALUE

At 31st March 2023

681,723

The investment property is shown at its year end fair value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

39,893

13,281

Other debtors

9,159

-

49,052

13,281

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

20,118

600

Taxation and social security

4,880

4,870

Other creditors

29,418

8,565

54,416

14,035

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

9.

RESERVES

Revaluation

reserve

£

Revaluation in year

209,200

At 31st March 2023

209,200