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REGISTERED NUMBER: OC437796 (England and Wales)















Heartland Investments LLP

Members' Report and

Unaudited Financial Statements for the Year Ended 30 June 2023






Heartland Investments LLP (Registered number: OC437796)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

General Information 1

Members' Report 2

Chartered Certified Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Heartland Investments LLP

General Information
for the Year Ended 30 June 2023







DESIGNATED MEMBERS: Mr L B Brooks
Mrs A C Brooks





REGISTERED OFFICE: Suite 16, Enterprise House
Telford Road
Bicester
Oxon
OX26 4LD





REGISTERED NUMBER: OC437796 (England and Wales)





ACCOUNTANTS: Morgan Accountancy Solutions Ltd
Chartered Certified Accountants
Suite 16, Enterprise House
Telford Road
Bicester
Oxon
OX26 4LD

Heartland Investments LLP (Registered number: OC437796)

Members' Report
for the Year Ended 30 June 2023

The members present their report with the financial statements of the LLP for the year ended 30 June 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of property management.

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

Mr L B Brooks
Mrs A C Brooks

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £31,550 (2022 - £16,885 profit).

MEMBERS' INTERESTS
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

ON BEHALF OF THE MEMBERS:





Mrs A C Brooks - Designated member


28 March 2024

Chartered Certified Accountants' Report to the Members
on the Unaudited Financial Statements of
Heartland Investments 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 Heartland Investments LLP for the year ended 30 June 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the members of Heartland Investments LLP, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Heartland Investments LLP and state those matters that we have agreed to state to the members of Heartland Investments LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Heartland Investments 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 profit of Heartland Investments LLP. You consider that Heartland Investments 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 Heartland Investments 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.






Morgan Accountancy Solutions Ltd
Chartered Certified Accountants
Suite 16, Enterprise House
Telford Road
Bicester
Oxon
OX26 4LD


28 March 2024

Heartland Investments LLP (Registered number: OC437796)

Income Statement
for the Year Ended 30 June 2023

Period
8/6/21
Year Ended to
30/6/23 30/6/22
£    £   

TURNOVER 63,756 69,481

Administrative expenses 55,396 41,617
8,360 27,864

Other operating income 650 -
9,010 27,864

Gain/loss on revaluation of
investment property

35,000

-
44,010 27,864

Interest payable and similar
expenses

12,460

10,979
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES



31,550



16,885

Heartland Investments LLP (Registered number: OC437796)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,624 25,851
Investment property 5 982,000 947,000
1,015,624 972,851

CURRENT ASSETS
Cash at bank 11,716 9,042

CREDITORS
Amounts falling due within one year 6 581 580
NET CURRENT ASSETS 11,135 8,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,026,759

981,313

CREDITORS
Amounts falling due after more than
one year

7

561,685

408,509
NET ASSETS ATTRIBUTABLE TO
MEMBERS

465,074

572,804

Heartland Investments LLP (Registered number: OC437796)

Balance Sheet - continued
30 June 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 465,074 572,804
465,074 572,804

TOTAL MEMBERS' INTERESTS
Members' other interests 465,074 572,804

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 30 June 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 28 March 2024 and were signed by:




Mrs A C Brooks - Designated member




Mr L B Brooks - Designated member


Heartland Investments LLP (Registered number: OC437796)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Heartland 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 as modified by the revaluation of certain assets.

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

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 etc - 25% on cost and 20% on reducing balance

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non convertible preference preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

Heartland Investments LLP (Registered number: OC437796)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 26,406
Additions 39,968
Disposals (26,006 )
At 30 June 2023 40,368
DEPRECIATION
At 1 July 2022 555
Charge for year 6,731
Eliminated on disposal (542 )
At 30 June 2023 6,744
NET BOOK VALUE
At 30 June 2023 33,624
At 30 June 2022 25,851

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 947,000
Revaluations 35,000
At 30 June 2023 982,000
NET BOOK VALUE
At 30 June 2023 982,000
At 30 June 2022 947,000

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2023 35,000
Cost 947,000
982,000

Heartland Investments LLP (Registered number: OC437796)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 947,000 947,000

The investment properties were valued on an open market basis on 30 June 2023 by the designated members .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 581 580

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 561,685 408,509