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REGISTERED NUMBER: OC421823 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

NR LETTINGS LLP

NR LETTINGS LLP (REGISTERED NUMBER: OC421823)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NR LETTINGS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Miss Nandhini Ratnavel
NR Property Management Ltd





REGISTERED OFFICE: 100 Raleigh Drive
London
N20 0XA





REGISTERED NUMBER: OC421823 (England and Wales)





ACCOUNTANTS: BENEDICTS
873 High Road
North Finchley
London
N12 8QA

NR LETTINGS LLP (REGISTERED NUMBER: OC421823)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 6,355,333 6,148,985

CURRENT ASSETS
Debtors 5 - 1,816
Cash at bank 101,874 151,743
101,874 153,559
CREDITORS
Amounts falling due within one year 6 48,147 33,447
NET CURRENT ASSETS 53,727 120,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,409,060

6,269,097

CREDITORS
Amounts falling due after more than one
year

7

2,774,871

2,559,473
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,634,189

3,709,624

LOANS AND OTHER DEBTS DUE
TO MEMBERS

8

3,634,189

3,709,624

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 3,634,189 3,709,624

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 31 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.

NR LETTINGS LLP (REGISTERED NUMBER: OC421823)

BALANCE SHEET - continued
31 MARCH 2023


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 10 November 2023 and were signed by:





Miss Nandhini Ratnavel - Designated member

NR LETTINGS LLP (REGISTERED NUMBER: OC421823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

NR Lettings LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes 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).

NR LETTINGS LLP (REGISTERED NUMBER: OC421823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 6,148,985
Additions 235,000
Revaluations (28,652 )
At 31 March 2023 6,355,333
NET BOOK VALUE
At 31 March 2023 6,355,333
At 31 March 2022 6,148,985

The properties were valued by the member at current market values.

Fair value at 31 March 2023 is represented by:
£   
Cost 6,355,333

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 1,816

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Credit cards 452 165
Tenant deposits 22,435 19,982
Other creditors 360 -
Accruals & deferred income 18,300 13,300
Accruals 6,600 -
48,147 33,447

7. LONG TERM LOANS
2023 2022
£    £   
Loans 2,774,871 2,559,473

The loans have a charge against the investment properties.

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other creditors.

NR LETTINGS LLP (REGISTERED NUMBER: OC421823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. ULTIMATE CONTROLLING PARTY

The controlling party is Miss Nandhini Ratnavel.