REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st March 2023 |
for |
Norton Lakes Property LLP |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st March 2023 |
for |
Norton Lakes Property LLP |
Norton Lakes Property LLP (Registered number: OC313892) |
Contents of the Financial Statements |
for the Year Ended 31st March 2023 |
Page |
General Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Norton Lakes Property LLP |
General Information |
for the Year Ended 31st March 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Thorneloe House |
25 Barbourne Road |
Worcester |
Worcestershire |
WR1 1RU |
Norton Lakes Property LLP (Registered number: OC313892) |
Abridged Statement of Financial Position |
31st March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
6,874,827 |
4,276,931 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
5 |
6,874,827 |
4,276,931 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 5 | 6,874,827 | 4,276,931 |
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. |
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 |
Norton Lakes Property LLP (Registered number: OC313892) |
Notes to the Financial Statements |
for the Year Ended 31st March 2023 |
1. | STATUTORY INFORMATION |
Norton Lakes 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 |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st April 2022 |
Revaluations | 2,549,165 |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
Fair value at 31st March 2023 is represented by: |
£ |
Valuation in 2023 | 2,549,165 |
Cost | 4,450,835 |
7,000,000 |
5. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a |
winding up. |
There is no provision for specific legally enforceable protection afforded to creditors in such an event. |
There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other |
interests'. |