Maniben Limited Liability Partnership - Period Ending 2023-04-05

Maniben Limited Liability Partnership

Contents

Limited liability partnership information	1
Statement of Members' Responsibilities	2
Abridged Financial Statements	3 to 7
Abridged Balance Sheet	3
Statement of Changes in Members’ Interests	5
Notes to the Abridged Financial Statements	6

Maniben Limited Liability Partnership

Limited liability partnership information

Designated members

RC Shah M C Shah R Shah

Members

R R Shah N M Shah H L Shah M H Shah H C Shah S Shah S A Shah P S Shah A K Shah R Shah N P Shah

Registered office

76 Canterbury Road Croydon Surrey CR0 3HA

Maniben Limited Liability Partnership

Statement of Members' Responsibilities for the Year Ended 5 April 2023

The Limited Liability Partnerships (Accounts & Audit) (Application of Companies Act 2006) Regulations 2008 require the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under Company law as applied to LLPs the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the limited liability partnership and of the profit or loss of the limited liability partnership for that year. In preparing these financial statements, the members are required to:
 

•	select suitable accounting policies and then apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Partnership will continue in business.

The members are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the limited liability partnership and enable them to ensure that the financial statements comply with the Companies Act 2006, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, and in accordance with the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued July 2014). They are also responsible for safeguarding the assets of the limited liability partnership and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

These responsibilities are exercised by the Board on behalf of the members.

Maniben Limited Liability Partnership

(Registration number: OC335987)
Abridged Balance Sheet as at 5 April 2023

	Note	2023  £	2022  £
Fixed assets
Tangible assets	3	1,494,905	1,017,155
Current assets
Debtors		1,484	372,320
Cash and short-term deposits		12,111	27,565
		13,595	399,885
Prepayments and accrued income		1,650	1,637
Net current assets		15,245	401,522
Total assets less current liabilities		1,510,150	1,418,677
Accruals and deferred income		(10,522)	(21,140)
Net assets attributable to members		1,499,628	1,397,537
Represented by:
Loans and other debts due to members
Members' capital classified as a liability		864,244	754,711
Members’ other interests
Members' capital classified as equity		512,293	512,293
Other reserves		123,091	130,533
		635,384	642,826
		1,499,628	1,397,537
Total members' interests
Loans and other debts due to members		864,244	754,711
Equity		635,384	642,826
		1,499,628	1,397,537

Maniben Limited Liability Partnership

(Registration number: OC335987)
Abridged Balance Sheet as at 5 April 2023 (continued)

For the year ending 5 April 2023 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 provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

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.

These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements of Maniben Limited Liability Partnership (registered number OC335987) were approved by the Board and authorised for issue on 27 September 2023. They were signed on behalf of the limited liability partnership by:

......................................... RC Shah Designated member

......................................... M C Shah Designated member

......................................... R Shah Designated member

Maniben Limited Liability Partnership

Statement of Changes in Members’ Interests
At 5 April 2023

	Equity	Loans and other debts due to/(from) members
	Members' capital £	Members' capital classified as a liability £	Total 2023  £
Members' interest at 6 April 2022	512,293	885,244	1,397,537
Profit for the financial year available for discretionary division among members	-	123,091	123,091
Members' interests after profit for the year	512,293	1,008,335	1,520,628
Drawings (including tax payments)	-	(21,000)	(21,000)
At 5 April 2023	512,293	987,335	1,499,628

 

	Equity	Loans and other debts due to/(from) members
	Members' capital £	Members' capital classified as a liability £	Total 2022  £
Members' interest at 5 April 2021	512,293	789,711	1,302,004
Profit for the financial year available for discretionary division among members	-	130,533	130,533
Members' interests after total comprehensive income	512,293	920,244	1,432,537
Drawings (including tax payments)	-	(35,000)	(35,000)
At 5 April 2022	512,293	885,244	1,397,537

Maniben Limited Liability Partnership

Notes to the Abridged Financial Statements for the Year Ended 5 April 2023

1	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, and in accordance to the Statement of Recommended Practice (SORP) 'Accounting by Limited Liability Partnership' issued in January 2017.

General information and basis of accounting

The limited liability partnership is incorporated in 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 Maniben Limited Liability Partnership 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.

Revenue recognition

Revenue is recognised at the fair value of the consideration received, excluding discounts and rebates.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members.

Maniben Limited Liability Partnership

Notes to the Abridged Financial Statements for the Year Ended 5 April 2023 (continued)

1	Accounting policies (continued)

other taxes policy

Tangible fixed assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated impairment losses.

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.

2	Average number of members

The average number of persons employed by the limited liability partnership during the year was 0 (2022 - 0).

3	Tangible fixed assets

	Total £
Cost
At 6 April 2022	1,017,155
Additions	477,750
At 5 April 2023	1,494,905
Net book value
At 5 April 2023	1,494,905
At 5 April 2022	1,017,155