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REGISTERED NUMBER: OC439732 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

NIAVALEX PROPERTY MANAGEMENT LLP

NIAVALEX PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC439732)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NIAVALEX PROPERTY MANAGEMENT LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr P A Ridgwell
Mrs S L Ridgwell





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: OC439732 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

NIAVALEX PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC439732)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,270,000 7,270,000

CURRENT ASSETS
Debtors 5 25,354 15,736

CREDITORS
Amounts falling due within one year 6 6,513 4,073
NET CURRENT ASSETS 18,841 11,663
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

7,288,841

7,281,663

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

18,841

11,663

MEMBERS' OTHER INTERESTS
Capital accounts 7,270,000 7,270,000
7,288,841 7,281,663

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 18,841 11,663
Members' other interests 7,270,000 7,270,000
Amounts due from members 5 (20,218 ) (12,636 )
7,268,623 7,269,027

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 2024.

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.

NIAVALEX PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC439732)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 July 2024 and were signed by:





Mr P A Ridgwell - Designated member

NIAVALEX PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC439732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Niavalex Property Management 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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 7,270,000
Net book value
At 31 March 2024 7,270,000
At 31 March 2023 7,270,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,836 -
Other debtors 22,518 15,736
25,354 15,736

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 6,513 4,073

NIAVALEX PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC439732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 18,841 11,663

Falling due within one year 18,841 11,663

This is not loan to members, this is the current accounts of designated partners.