Pencilgrass LLP - Accounts to registrar (filleted) - small 23.2.5

Pencilgrass LLP - Accounts to registrar (filleted) - small 23.2.5

PENCILGRASS LLP - Company Information

Print Friendly Version

IRIS Accounts Production v23.3.1.45 OC445494 designated member 24.1.23 31.3.23 31.3.23 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4454942023-01-23OC4454942023-03-31OC4454942023-01-242023-03-31OC4454942023-01-23OC445494ns10:Originalns15:EnglandWales2023-01-242023-03-31OC445494ns14:PoundSterlingns10:Original2023-01-242023-03-31OC445494ns10:Originalns10:Director12023-01-242023-03-31OC445494ns10:Original2023-01-242023-03-31OC445494ns10:Original2023-03-31OC445494ns10:Originalns10:LimitedLiabilityPartnershipLLP2023-01-242023-03-31OC445494ns10:Originalns10:SmallEntities2023-01-242023-03-31OC445494ns10:Originalns10:AuditExempt-NoAccountantsReport2023-01-242023-03-31OC445494ns10:SmallCompaniesRegimeForAccountsns10:Original2023-01-242023-03-31OC445494ns10:LimitedLiabilityPartnershipsSORPns10:Original2023-01-242023-03-31OC445494ns10:Originalns10:FullAccounts2023-01-242023-03-31OC445494ns10:Originalns10:Director22023-01-242023-03-31OC445494ns10:Originalns10:RegisteredOffice2023-01-242023-03-31OC445494ns10:Original12023-01-242023-03-31
REGISTERED NUMBER: OC445494 (England and Wales)












PENCILGRASS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

24 JANUARY 2023 TO 31 MARCH 2023





Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA








PENCILGRASS LLP (REGISTERED NUMBER: OC445494)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 24 JANUARY 2023 TO 31 MARCH 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PENCILGRASS LLP

GENERAL INFORMATION
FOR THE PERIOD 24 JANUARY 2023 TO 31 MARCH 2023







DESIGNATED MEMBERS: A J Dalton
St Brides Ltd





REGISTERED OFFICE: Roma Building
York Road
Bridgend Industrial Estate
Bridgend
CF31 3TB





REGISTERED NUMBER: OC445494 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA
Page 1
PENCILGRASS LLP (REGISTERED NUMBER: OC445494)

BALANCE SHEET
31 MARCH 2023

Notes £    £   
FIXED ASSETS
Investment property 4 394,936

CURRENT ASSETS
Debtors 35,476
Cash at bank 1,577
37,053
NET CURRENT ASSETS 37,053
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
431,989

LOANS AND OTHER DEBTS DUE TO
MEMBERS
5
431,989

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 5 431,989
Amounts due from members (35,476 )
396,513

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 period 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 29 December 2023 and were signed by:





A J Dalton - Designated member

The notes form part of these financial statements

Page 2
PENCILGRASS LLP (REGISTERED NUMBER: OC445494)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 24 JANUARY 2023 TO 31 MARCH 2023

1. STATUTORY INFORMATION

Pencilgrass LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Valuation of Investment Properties
The members have considered the current valuation held in the financial statements and are satisfied that any difference in this valuation to current market value is not considered materially sufficient to adjust in these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 394,936
At 31 March 2023 394,936
NET BOOK VALUE
At 31 March 2023 394,936

5. LOANS AND OTHER DEBTS DUE TO MEMBERS
£   
Amounts owed to members in respect of profits 431,989

Falling due within one year 431,989

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of Members' other interests

Page 3