Thomas Sinden Estates LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: OC313034 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Thomas Sinden Estates LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

G Sinden

Thomas Sinden Limited

REGISTERED OFFICE:

137-145 Church Road

Harold Wood

Romford

Essex

RM3 0SH

REGISTERED NUMBER:

OC313034 (England and Wales)

ACCOUNTANTS:

Fisher Michael

The Old Grange

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

FIXED ASSETS

Investment property

4

3,500,000

4,083,000

CURRENT ASSETS

Debtors

5

310,587

61,688

Cash at bank

94,492

68,503

405,079

130,191

CREDITORS

Amounts falling due within one year

6

101,231

144,815

NET CURRENT ASSETS/(LIABILITIES)

303,848

(14,624

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,803,848

4,068,376

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

3,448,848

3,713,376

MEMBERS' OTHER INTERESTS

Capital accounts

355,000

355,000

3,803,848

4,068,376

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

3,448,848

3,713,376

Members' other interests

355,000

355,000

Amounts due from members

5

(248,899

)

-

3,554,949

4,068,376

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 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 21 December 2023 and were signed by:

G Sinden - Designated member

1.	STATUTORY INFORMATION

Thomas Sinden Estates 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.

Significant judgements and estimates

No significant judgements or estimations have been applied in the preparation of the financial statements.

Turnover

Turnover represents rental income measured at the fair value of the consideration received or receivable.

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 LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debtors

Short term debtors are measured at the transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

4,083,000

Revaluations

(583,000

)

At 31 March 2023

3,500,000

NET BOOK VALUE

At 31 March 2023

3,500,000

At 31 March 2022

4,083,000

Fair value at 31 March 2023 is represented by:

£

Valuation in 2007

614,580

Valuation in 2011

1,026,915

Valuation in 2021

472,053

Valuation in 2023

(583,000

)

Cost

1,969,452

3,500,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023

2022

£

£

Cost

1,969,452

1,969,452

The investment property was valued on an open market basis on 28 September 2023 by Glenny LLP .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

58,320

58,320

Other debtors

252,267

3,368

310,587

61,688

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

43,060

Trade creditors

996

1,740

VAT

5,216

6,346

Other creditors

95,019

93,669

101,231

144,815

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2023

2022

£

£

Loans from members

2,912,307

2,795,236

Amounts owed to members in respect of profits

536,541

918,140

3,448,848

3,713,376

Falling due within one year

536,541

918,140

Falling due after more than one year

2,912,307

2,795,236

3,448,848

3,713,376

In the event of the Limited Liability Partnership being wound up, all unsecured creditors would rank equally. There is no provision for specific legal enforceable protection afforded to creditors in such an event. There are no restrictions or limitations that exist on the members to reduce the 'Members other interest'.

8.	RELATED PARTY DISCLOSURES

During the period, transactions took place between the LLP and one of its members, Thomas Sinden Limited.

Thomas Sinden Limited occupies premises which are owned by Thomas Sinden Estates LLP. During the year rent was charged to Thomas Sinden Limited of £141,600 (2022: £141,600).

£6,000 management fees were charged to the LLP by Thomas Sinden Limited in the year (2022: £6,000)

Interest of £163,745 (2022: £80,074) has been charged by Thomas Sinden Limited on the long term loan, during the year.