Whitemark Group LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: OC423275 (England and Wales)

Financial Statements

for the Year Ended 28 March 2023

for

Whitemark Group LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J R Joyner

N Joyner

R J Joyner

Whitemark Estates Limited

REGISTERED OFFICE:

46 Coatham Road

Redcar

United Kingdom

TS10 1RS

REGISTERED NUMBER:

OC423275 (England and Wales)

ACCOUNTANTS:

SKS Bailey Group Limited

Oaklea House

46 Coatham Road

Redcar

TS10 1RS

FIXED ASSETS

Investment property

4

12,869,057

12,844,057

CURRENT ASSETS

Debtors

5

232,753

227,130

CREDITORS

Amounts falling due within one year

6

(6,594

)

(8,249

)

NET CURRENT ASSETS

226,159

218,881

TOTAL ASSETS LESS CURRENT LIABILITIES

13,095,216

13,062,938

CREDITORS

Amounts falling due after more than one year

7

(7,293,033

)

(7,269,179

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

5,802,183

5,793,759

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

5,802,183

5,793,759

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

5,802,183

5,793,759

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 28 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 28 March 2024 and were signed by:

N Joyner - Designated member

1.	STATUTORY INFORMATION

Whitemark Group 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.

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.

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.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 March 2022

12,844,057

Revaluations

25,000

At 28 March 2023

12,869,057

NET BOOK VALUE

At 28 March 2023

12,869,057

At 28 March 2022

12,844,057

Fair value at 28 March 2023 is represented by:

£

Valuation in 2020

(315,000

)

Valuation in 2022

25,000

Valuation in 2023

25,000

Cost

13,134,057

12,869,057

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

232,753

227,130

The amount in other debtors of £232,753 is due from Whitemark Developments Ltd of which the member is a director. The loan is interest free and fully repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

4,650

4,649

Accrued expenses

1,944

3,600

6,594

8,249

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Mortgages

7,293,033

7,269,179

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Mortgages

7,293,033

7,269,179

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.