1 March 2022 false Taxfiler 2023.9 OC352290business:LimitedLiabilityPartnershipLLP2022-03-012023-02-28 OC3522902022-02-28 OC3522902022-03-012023-02-28 OC352290business:AuditExempt-NoAccountantsReport2022-03-012023-02-28 OC352290business:FullAccounts2022-03-012023-02-28 OC3522902023-02-28 OC352290business:PartnerLLP42022-03-012023-02-28 OC352290business:PartnerLLP72022-03-012023-02-28 OC352290business:RegisteredOffice2022-03-012023-02-28 OC3522902022-02-28 OC352290core:WithinOneYear2023-02-28 OC352290core:WithinOneYear2022-02-28 OC352290core:RevaluationReserve2023-02-28 OC352290core:RevaluationReserve2022-02-28 OC352290core:RetainedEarningsAccumulatedLosses2023-02-28 OC352290core:RetainedEarningsAccumulatedLosses2022-02-28 OC352290business:SmallEntities2022-03-012023-02-28 OC352290countries:EnglandWales2022-03-012023-02-28 OC352290core:LandBuildings2022-02-28 OC352290core:LandBuildings2023-02-28 OC3522902021-03-012022-02-28 iso4217:GBP xbrli:pure
Registered No. OC352290 (England and Wales)
HV PROPERTIES LLP Unaudited accounts for the year ended 28 February 2023
HV PROPERTIES LLP LLP Information for the year ended 28 February 2023
Designated members
Mr Kanji Khimji JESANI
Mr Vinod PATEL
Registered Number
OC352290 (England and Wales)
Registered Office
PADMA VILLA 2 REENGLASS ROAD STANMORE HA7 4NT ENGLAND
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HV PROPERTIES LLP Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
650,000 
650,000 
Current assets
Debtors
5,000 
20,700 
Cash at bank and in hand
57,265 
63,075 
62,265 
83,775 
Creditors: amounts falling due within one year
(4,386)
(26,131)
Net current assets
57,879 
57,644 
Net assets attributable to members
707,879 
707,644 
Represented by:
Loans and other debts due to members
60,235 
Members' other interests
Revaluation reserve
455,732 
455,732 
Other reserves
191,912 
251,912 
647,644 
707,644 
707,879 
707,644 
Total members' interests
Loans and other debts due to members
60,235 
Members' other interests
647,644 
707,644 
707,879 
707,644 
For the year ending 28 February 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 26 September 2023.
Mr Vinod PATEL Designated member Limited Liability Partnership Registration No. OC352290
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HV PROPERTIES LLP Notes to the Accounts for the year ended 28 February 2023
1
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Members' remuneration
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense. Members are expected to subscribe a minimum amount of capital and may be invited to contribute more. On retirement, all capital is repaid to the member concerned. Members' shares in the profit or loss for the year available for discretionary division among the members are accounted for as an allocation of that balance. Allocated balances are split between the members with any unallocated balances being included within 'Other reserves'. Members are permitted to make drawings in anticipation of that allocation, subject to the agreement of the other members.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost.
2
Statutory information
HV PROPERTIES LLP is a limited liability partnership, incorporated in England and Wales, registration number OC352290. Its registered office is PADMA VILLA, 2 REENGLASS ROAD, STANMORE, HA7 4NT, ENGLAND.
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HV PROPERTIES LLP Notes to the Accounts for the year ended 28 February 2023
3
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 March 2022
650,000 
At 28 February 2023
650,000 
Depreciation
At 28 February 2023
- 
Net book value
At 28 February 2023
650,000 
At 28 February 2022
650,000 
4
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security costs
4,386 
4,781 
Other creditors
- 
20,700 
Accruals
- 
650 
4,386 
26,131 
5
Loans and other debts due to members
2023 
2022 
£ 
£ 
Amounts due to members in respect of profits
60,235 
Amounts falling due within one year
60,235 
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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