REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Gusto Homes (Easthorpe) LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Gusto Homes (Easthorpe) LLP |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
Gusto Homes (Easthorpe) LLP |
General Information |
for the Year Ended 31 March 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Hine House |
25 Regent Street |
Nottingham |
NG1 5BS |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Report of the Members |
for the Year Ended 31 March 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of residential property construction. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £1,985 (2022 - £1,839 loss). |
MEMBERS' INTERESTS |
The members are entitled to draw profits, in accordance with the partnership agreement by mutual agreement. |
Details pertaining to members’ drawings, subscriptions and repayment of capital are documented in the partnership agreement. |
ON BEHALF OF THE MEMBERS: |
Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
Gusto Homes (Easthorpe) LLP |
In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Gusto Homes (Easthorpe) LLP for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the members of Gusto Homes (Easthorpe) LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gusto Homes (Easthorpe) LLP and state those matters that we have agreed to state to the members of Gusto Homes (Easthorpe) LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gusto Homes (Easthorpe) LLP and its members, as a body, for our work or for this report. |
It is your duty to ensure that Gusto Homes (Easthorpe) LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gusto Homes (Easthorpe) LLP. You consider that Gusto Homes (Easthorpe) LLP is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Gusto Homes (Easthorpe) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Hine House |
25 Regent Street |
Nottingham |
NG1 5BS |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Income Statement |
for the Year Ended 31 March 2023 |
2023 | 2022 |
£ | £ |
TURNOVER |
Administrative expenses |
OPERATING LOSS and |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,151,000 |
3,101,000 |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Balance Sheet - continued |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
3,150,000 |
3,100,000 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,000 | 1,000 |
3,151,000 | 3,101,000 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members |
6 |
3,150,000 |
3,100,000 |
Members' other interests | 1,000 | 1,000 |
Amounts due from members | 4 | (11,511 | ) | (9,526 | ) |
3,139,489 | 3,091,474 |
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. |
The financial statements were approved by the members of the LLP and authorised for issue on |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Gusto Homes (Easthorpe) 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 |
Stocks |
The stock figure shown in the balance sheet represents work in progress, valued at the |
lower of cost and net realisable value. Cost includes all direct costs. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Included in other debtors is an amount of £1,000 (2022: £1,000) in respect of unpaid members' capital. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
Gusto Homes (Easthorpe) LLP (Registered number: OC427201) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2023 | 2022 |
£ | £ |
Loans from members | 3,150,000 | 3,100,000 |
Falling due after more than one year | 3,150,000 | 3,100,000 |
The loan from Devonshire Avenue Developments Limited is secured by a fixed and floating |
charge on the land and buildings known as the land on Easthorpe Lodge, Manor Road, Easthorpe, Nottingham NG13 0DU. (As registered at the land registry with title number LT513899.) |
In event of winding up, the loan would rank at least pari passu in right and priority of payments with all its other unsecured and subordinated obligations and liabilities. |