TSI Property LLP - Accounts to registrar (filleted) - small 23.2.5

TSI Property LLP - Accounts to registrar (filleted) - small 23.2.5

TSI PROPERTY LLP - Company Information

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REGISTERED NUMBER: OC433962 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

TSI Property LLP
TSI Property LLP (Registered number: OC433962)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TSI Property LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: T Izzet
Mrs S Izzet





REGISTERED OFFICE: 940 Green Lanes
London
N21 2AD





REGISTERED NUMBER: OC433962 (England and Wales)





ACCOUNTANTS: Graeme Bruce & Partners LLP
940 Green Lanes
London
N21 2AD
Page 1
TSI Property LLP (Registered number: OC433962)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 600
Investments 5 9,205,000 -
Investment property 6 - 13,500,000
9,205,000 13,500,600

CURRENT ASSETS
Debtors 7 1,501,500 -
Cash at bank 1 -
1,501,501 -
CREDITORS
Amounts falling due within one year 8 6,066 3,708
NET CURRENT ASSETS/(LIABILITIES) 1,495,435 (3,708 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
10,700,435
13,496,892

CREDITORS
Amounts falling due after more than one
year
9
-
3,252,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS
10,700,435
10,244,892

LOANS AND OTHER DEBTS DUE TO
MEMBERS
10
10,700,435
10,244,892

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 10,700,435 10,244,892

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 notes form part of these financial statements

Page 2 continued...
TSI Property LLP (Registered number: OC433962)

Balance Sheet - continued
31 March 2023


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 22 December 2023 and were signed by:





T Izzet - Designated member

The notes form part of these financial statements

Page 3
TSI Property LLP (Registered number: OC433962)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

TSI Property 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.

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

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 1,000
Disposals (1,000 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 400
Eliminated on disposal (400 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 600

Page 4 continued...
TSI Property LLP (Registered number: OC433962)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 9,205,000
At 31 March 2023 9,205,000
NET BOOK VALUE
At 31 March 2023 9,205,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 13,500,000
Disposals (13,500,000 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 13,500,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 1,501,500 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 6,066 3,708

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other creditors - 3,252,000

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans and other debts due to members rank above other creditors.

Page 5