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REGISTERED NUMBER: OC340264 (England and Wales)














Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Future Horizons Supported Housing LLP

Future Horizons Supported Housing LLP (Registered number: OC340264)






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




Page

General Information 1

Report of the Members 2

Profit and loss 3

Balance Sheet 4

Notes to the Financial Statements 5


Future Horizons Supported Housing LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: Mrs A J Knowles
P E Mcvay





REGISTERED OFFICE: 2 Railway Street
Stafford
Staffordshire
ST16 2EA





REGISTERED NUMBER: OC340264 (England and Wales)





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

Future Horizons Supported Housing LLP (Registered number: OC340264)

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 rental.

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

Mrs A J Knowles
P E Mcvay

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £27,723 (2022 - £66,475 profit).

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

Future Horizons Supported Housing LLP (Registered number: OC340264)

Profit and loss
for the Year Ended 31 March 2023

2023 2022
Notes £    £   

TURNOVER 102,668 109,620

Administrative expenses 20,619 13,571
OPERATING PROFIT 82,049 96,049


Interest payable and similar expenses 54,326 29,574
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

27,723

66,475

PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT SHARES

27,723

66,475

Members' remuneration charged as an expense 4 (27,723 ) (66,475 )
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR
DISCRETIONARY DIVISION AMONG MEMBERS

-

-

Future Horizons Supported Housing LLP (Registered number: OC340264)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 1,577,840 1,577,840
1,577,840 1,577,840

CURRENT ASSETS
Debtors 7 500 16,046
Cash at bank 3,594 15,799
4,094 31,845
CREDITORS
Amounts falling due within one year 8 1,093,424 138,335
NET CURRENT LIABILITIES (1,089,330 ) (106,490 )
TOTAL ASSETS LESS CURRENT LIABILITIES 488,510 1,471,350

CREDITORS
Amounts falling due after more than one year 9 11,722 1,022,185
NET ASSETS ATTRIBUTABLE TO MEMBERS 476,788 449,165

LOANS AND OTHER DEBTS DUE TO MEMBERS 11 476,788 449,165

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 476,788 449,165

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

Future Horizons Supported Housing LLP (Registered number: OC340264)

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

1. STATUTORY INFORMATION

Future Horizons Supported Housing 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.

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Historic Plant and machinery have been fully written down to nil.

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 2 (2022 - 2 ) .

4. INFORMATION IN RELATION TO MEMBERS
2023 2022
£    £   
Members' remuneration charged as an expense
Automatic division of profit 27,723 66,475

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 3,400
DEPRECIATION
At 1 April 2022
and 31 March 2023 3,400
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Future Horizons Supported Housing LLP (Registered number: OC340264)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,577,840
NET BOOK VALUE
At 31 March 2023 1,577,840
At 31 March 2022 1,577,840

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 15,046
Other debtors 500 1,000
500 16,046

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,073 81,114
Trade creditors 14,262 -
Other creditors 1,075,089 57,221
1,093,424 138,335

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 11,722 1,022,185

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 661,495

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 15,795 1,103,299

Bank loans are secured with a fixed and floating charge on the properties of the company.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

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

12. ULTIMATE CONTROLLING PARTY

The designated members jointly represent the ultimate controlling party by virtue of their status as members of the LLP.