Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC432785 Mr James Brennan Mr Mevlan Dani Mr Ramadan Gashi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC432785 2023-03-31 OC432785 2024-03-31 OC432785 2023-04-01 2024-03-31 OC432785 frs-core:Non-currentFinancialInstruments 2024-03-31 OC432785 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC432785 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC432785 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC432785 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC432785 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC432785 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC432785 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC432785 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC432785 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC432785 frs-bus:PartnerLLP3 2023-04-01 2024-03-31 OC432785 2022-03-31 OC432785 2023-03-31 OC432785 2022-04-01 2023-03-31 OC432785 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC432785
NOVA PARK ST LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
CBS Accountants Ltd
Chartered Accountants
Unit 17, Orbital 25 Business Park
Dwight Road
Watford
Hertfordshire
WD18 9DA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC432785
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 819,000 521,158
819,000 521,158
CURRENT ASSETS
Debtors 5 64,335 26,666
Cash at bank and in hand 32,577 15,200
96,912 41,866
Creditors: Amounts Falling Due Within One Year 6 (242,185 ) (563,024 )
NET CURRENT ASSETS (LIABILITIES) (145,273 ) (521,158 )
TOTAL ASSETS LESS CURRENT LIABILITIES 673,727 -
Creditors: Amounts Falling Due After More Than One Year 7 (613,005 ) -
NET ASSETS ATTRIBUTABLE TO MEMBERS 60,722 -
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 60,722 -
60,722 -
60,722 -
TOTAL MEMBERS' INTEREST
Amounts due from members (64,335) (26,666)
Loans and other debts due to members within one year 60,722 -
(3,613) (26,666)
Page 1
Page 2
For the year ending 31 March 2024 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr James Brennan
Designated Member
09/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
NOVA PARK ST LLP is a limited liability partnership, incorporated in England & Wales, registered number OC432785 . The Registered Office is 2 Reedsdale, Luton, LU2 9TG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rent from investment properties. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.4. Financial Instruments
Basic financial instruments are recognized at amortised cost using the effective interest method.
Other financial instruments are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognized in profit or loss.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)
- -
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Page 4
4. Investment Property
2024
£
Fair Value
As at 1 April 2023 521,158
Revaluations 297,842
As at 31 March 2024 819,000
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 64,335 26,666
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 242,185 563,024
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 613,005 -
8. Transition to FRS 102
As stated in note 1 ( Accounting Policies), these are the company's first financial statements prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The accounting policies set out in note 1 have been applied in preparing the financial statements for the year ended 31 March 2024.
The policies applied under the Company's previous accounting framework are not materially different to FRS 102 standards
applicable in the UK and Republic of Ireland.
Page 4