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REGISTERED NUMBER: OC427201 (England and Wales)















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: Devonshire Avenue Developments Limited
Gusto Construction Limited
Gusto Developments Limited





REGISTERED OFFICE: Gusto House
Green Way
Collingham
Newark
Nottinghamshire
NG23 7DX





REGISTERED NUMBER: OC427201 (England and Wales)





ACCOUNTANTS: Mellor Oxland LLP
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:

Devonshire Avenue Developments Limited
Gusto Construction Limited
Gusto Developments Limited

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:





Gusto Developments Limited - Designated member


9 November 2023

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.






Mellor Oxland LLP
Chartered Accountants
Hine House
25 Regent Street
Nottingham
NG1 5BS


9 November 2023

Gusto Homes (Easthorpe) LLP (Registered number: OC427201)

Income Statement
for the Year Ended 31 March 2023

2023 2022
£    £   

TURNOVER - -

Administrative expenses 1,985 1,839
OPERATING LOSS and
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





(1,985





)





(1,839





)

Gusto Homes (Easthorpe) LLP (Registered number: OC427201)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 3,461,710 3,305,558
Debtors 4 12,532 11,746
Cash at bank 34,537 47,424
3,508,779 3,364,728
CREDITORS
Amounts falling due within one year 5 357,779 263,728
NET CURRENT ASSETS 3,151,000 3,101,000
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 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.

The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 9 November 2023 and were signed by:




Gusto Developments Limited - Designated member

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
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.

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 1,052 9,576
Other creditors 356,727 254,152
357,779 263,728

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.