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Registered number: OC322403
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Stelling LLP
Financial statements
Information for filing with the registrar
5 April 2023
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Balance sheet
At 5 April 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Loans and other debts due to members
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1
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Balance sheet (continued)
At 5 April 2023
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity 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.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 13 December 2023.
Registered number: OC322403
The notes on pages 3 to 5 form part of these financial statements.
2
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Notes to the financial statements
Year ended 5 April 2023
The LLP is registered in England and Wales.The address of the registered office is UNW LLP, Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The following principal accounting policies have been applied:
Turnover represents amounts receivable for goods and services net of VAT.
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property should be revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. However, the members have taken the decision not to revalue the investment properties and they are therefore shown in the accounts at cost. This is not in accordance with UK GAAP.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
3
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Notes to the financial statements
Year ended 5 April 2023
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Freehold investment property
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As noted in the accounting policies, investment properties are shown in the accounts at cost and this policy is not in accordance with UK GAAP.
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Creditors: amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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4
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Notes to the financial statements
Year ended 5 April 2023
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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Related party transactions
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Included in other creditors at 31 March 2023 is £198,634 (2022: £200,716) due to Athenaeum Developments Limited, this loan is unsecured, repayable on demand and incurs no interest.
Included in other debtors at 31 March 2023 is £750 (2022: £750) due from Athenaeum Developments Pension Scheme, this loan is unsecured, repayable on demand and incurs no interest.
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5
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