Silverfin false 31/12/2023 01/01/2023 31/12/2023 M Graver 20/12/2010 R Nagioff 20/12/2010 G Osen 01/02/2021 W Rosenberg 20/12/2010 08 August 2024 OC360401 2023-12-31 OC360401 bus:Director1 2023-12-31 OC360401 bus:Director2 2023-12-31 OC360401 bus:Director3 2023-12-31 OC360401 bus:Director4 2023-12-31 OC360401 2022-12-31 OC360401 core:CurrentFinancialInstruments 2023-12-31 OC360401 core:CurrentFinancialInstruments 2022-12-31 OC360401 2023-01-01 2023-12-31 OC360401 bus:FullAccounts 2023-01-01 2023-12-31 OC360401 bus:SmallEntities 2023-01-01 2023-12-31 OC360401 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 OC360401 bus:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC360401 bus:Director1 2023-01-01 2023-12-31 OC360401 bus:Director2 2023-01-01 2023-12-31 OC360401 bus:Director3 2023-01-01 2023-12-31 OC360401 bus:Director4 2023-01-01 2023-12-31 OC360401 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: OC360401 (England and Wales)

VILLAGE HOMES (HATFIELD) LLP

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

VILLAGE HOMES (HATFIELD) LLP

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

VILLAGE HOMES (HATFIELD) LLP

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
VILLAGE HOMES (HATFIELD) LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 100,000 100,000
100,000 100,000
Current assets
Cash at bank and in hand 34,606 27,842
34,606 27,842
Creditors: amounts falling due within one year 4 ( 1,410) ( 719)
Net current assets 33,196 27,123
Total assets less current liabilities 133,196 127,123
Net assets attributable to members 133,196 127,123
Represented by
Loans and other debts due to members after more than one year
Other amounts 159,732 159,732
159,732 159,732
Members' other interests
Other reserves (26,536) (32,609)
(26,536) (32,609)
133,196 127,123
Total members' interests
Loans and other debts due to members 159,732 159,732
Members' other interests (26,536) (32,609)
133,196 127,123

For the financial year ending 31 December 2023 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

The financial statements of Village Homes (Hatfield) LLP (registered number: OC360401) were approved and authorised for issue by the Board of Directors on 08 August 2024. They were signed on its behalf by:

G Osen
Designated member
VILLAGE HOMES (HATFIELD) LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
VILLAGE HOMES (HATFIELD) LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Village Homes (Hatfield) LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 35 Ballards Lane, London, United Kingdom.

The principal activity of the LLP during the financial year was that of property investment.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises ground rent recognised in the period by the LLP.

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Investment property

Investment property
£
Valuation
As at 01 January 2023 100,000
As at 31 December 2023 100,000

Valuation

The 2023 valuations were made by the members, on an open market value for existing use basis.

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 690 0
Other creditors 720 719
1,410 719