Registration number:
North Point One LLP
for the Year Ended 31 January 2024
North Point One LLP
Contents
Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
North Point One LLP
Limited liability partnership information
Designated members |
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Registered office |
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Accountants |
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North Point One LLP
(Registration number: OC342913)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets attributable to members |
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Represented by: |
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Loans and other debts due to members |
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Other amounts |
399,240 |
399,240 |
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399,240 |
399,240 |
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Total members' interests |
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Loans and other debts due to members |
399,240 |
399,240 |
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399,240 |
399,240 |
For the year ending 31 January 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of North Point One LLP (registered number OC342913) were approved by the
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North Point One LLP
Notes to the Financial Statements for the Year Ended 31 January 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of North Point One LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cost.
Members' interests
Amounts due to members comprise certain loans from members which are not repayable within twelve months of the balance sheet date.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
North Point One LLP
Notes to the Financial Statements for the Year Ended 31 January 2024
Tangible fixed assets |
Land and buildings |
Total |
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Cost |
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At 1 February 2023 |
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At 31 January 2024 |
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Net book value |
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At 31 January 2024 |
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At 31 January 2023 |
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Creditors: Amounts falling due within one year |
2024 |
2023 |
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Accruals and deferred income |
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Loans and other debts due to members |
2024 |
2023 |
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Money owed to members by the LLP |
399,240 |
399,240 |
Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.