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REGISTERED NUMBER: OC379886 (England and Wales)














Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Aspire Investments LLP

Aspire Investments LLP (Registered number: OC379886)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Report of the Members 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 5


Aspire Investments LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Maxed Out Consulting Ltd
P E Mcvay





REGISTERED OFFICE: 2 Railway Street
Stafford
Staffordshire
ST16 2EA





REGISTERED NUMBER: OC379886 (England and Wales)





ACCOUNTANTS: Thompson Wright Limited
Chartered Accountants
Ebenezer House
Ryecroft
Newcastle under Lyme
Staffordshire
ST5 2BE

Aspire Investments LLP (Registered number: OC379886)

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 property investment.

DESIGNATED MEMBERS
The designated members during the year under review were:

Maxed Out Consulting Ltd
P E Mcvay

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £12,174 (2022 - £94,568 loss).

MEMBERS' INTERESTS
Capital introduced by the members form time to time is classified as debt owed by the limited liability partnership and is repayable on demand.

The members may make drawings from the limited liability partnership at any time, subject to the agreement of the other members and subject also to the cash requirements of the business.

ON BEHALF OF THE MEMBERS:





P E Mcvay - Designated member


10 November 2023

Aspire Investments LLP (Registered number: OC379886)

Profit and Loss Account
for the Year Ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 20,100 34,043

Cost of sales 2,760 3,034
GROSS PROFIT 17,340 31,009

Administrative expenses 5,021 122,543
OPERATING PROFIT/(LOSS) 12,319 (91,534 )


Interest payable and similar expenses 145 3,034
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

12,174

(94,568

)

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

12,174

(94,568

)

Members' remuneration charged as an expense 4 (12,174 ) 94,568
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR
DISCRETIONARY DIVISION AMONG MEMBERS

-

-

Aspire Investments LLP (Registered number: OC379886)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 145,007 145,007

CURRENT ASSETS
Debtors 6 16,175 12,403
Cash at bank 5,020 2,637
21,195 15,040
CREDITORS
Amounts falling due within one year 7 15,659 83,056
NET CURRENT ASSETS/(LIABILITIES) 5,536 (68,016 )
TOTAL ASSETS LESS CURRENT LIABILITIES 150,543 76,991

CREDITORS
Amounts falling due after more than one year 8 5,407 7,407
NET ASSETS ATTRIBUTABLE TO MEMBERS 145,136 69,584

LOANS AND OTHER DEBTS DUE TO MEMBERS 9 135,211 59,659

MEMBERS' OTHER INTERESTS
Undistributable reserves 10 9,925 9,925
145,136 69,584

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 135,211 59,659
Members' other interests 9,925 9,925
145,136 69,584

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 10 November 2023 and were signed by:



P E Mcvay - Designated member

Aspire Investments LLP (Registered number: OC379886)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Aspire Investments 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

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 1 (2022 - 1 ) .

4. INFORMATION IN RELATION TO MEMBERS
2023 2022
£    £   
Members' remuneration charged as an expense
Automatic division of profit/(loss) 12,174 (94,568 )

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 145,007
NET BOOK VALUE
At 31 March 2023 145,007
At 31 March 2022 145,007

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,175 12,403

Aspire Investments LLP (Registered number: OC379886)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,001 1,952
Trade creditors (100 ) 3,151
Other creditors 13,758 77,953
15,659 83,056

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 5,407 7,407

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with other unsecured creditors.

10. RESERVES
Undistributable
reserves
£   
At 1 April 2022
and 31 March 2023 9,925

11. ULTIMATE CONTROLLING PARTY

The controlling party is P E Mcvay.