Registration number:
53 King Street LLP
Annual Report and Unaudited Abridged Financial Statements
for the Year Ended 27 March 2019
Davenports Group Limited
Preservation House
Badger Street
Bury
BL9 6AD
53 King Street LLP
Contents
Limited liability partnership information |
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Abridged Financial Statements |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
53 King Street LLP
Limited liability partnership information
Chairman |
Pirannah Freight Limited |
Designated members |
M Leahy Property Limited Pirannah Freight Limited |
Registered office |
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Solicitors |
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Accountants |
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53 King Street LLP
(Registration number: OC344341)
Abridged Balance Sheet as at 27 March 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Investments |
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- |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Accruals and deferred income |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Members' capital classified as a liability |
1,533,394 |
1,289,314 |
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Members’ other interests |
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Members' capital classified as equity |
100 |
100 |
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Other reserves |
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( |
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414,407 |
(66,025) |
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1,947,801 |
1,223,289 |
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Total members' interests |
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Amounts due from members |
972 |
972 |
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Loans and other debts due to members |
1,533,394 |
1,289,314 |
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Equity |
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( |
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1,948,773 |
1,224,261 |
53 King Street LLP
(Registration number: OC344341)
Abridged Balance Sheet as at 27 March 2019 (continued)
For the year ending 27 March 2019 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships, and the option not to file the Profit and Loss Account has been taken.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
All of the limited liability partnership's members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006, as applied to limited liability partnerships.
The financial statements of 53 King Street LLP (registered number OC344341) were approved by the
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53 King Street LLP
Notes to the Abridged Financial Statements for the Year Ended 27 March 2019
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England & Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of 53 King Street LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
other taxes policy
Tangible fixed assets
Individual fixed assets costing or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
Not depreciated |
Motor vehicles |
25% reducing balance |
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
53 King Street LLP
Notes to the Abridged Financial Statements for the Year Ended 27 March 2019 (continued)
Tangible fixed assets |
Total |
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Cost |
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At 28 March 2018 |
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At 27 March 2019 |
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Depreciation |
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At 28 March 2018 |
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Charge for the year |
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At 27 March 2019 |
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Net book value |
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At 27 March 2019 |
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At 27 March 2018 |
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Investments held as fixed assets |
Total |
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Cost |
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Additions |
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At 27 March 2019 |
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Net book value |
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At 27 March 2019 |
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Debtors |
Debtors includes £629,825 (2018 - £629,825) due after more than one year. This is analysed as:
2019 |
2018 |
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Other debtors |
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Control |
The ultimate controlling party is the same as the controlling party.