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REGISTERED NUMBER: OC449055 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

12 SEPTEMBER 2023 TO 31 MARCH 2024

FOR

TARETON HOMES LLP

TARETON HOMES LLP (REGISTERED NUMBER: OC449055)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 SEPTEMBER 2023 TO 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TARETON HOMES LLP

GENERAL INFORMATION
FOR THE PERIOD 12 SEPTEMBER 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: P R Pithiya
R Pithiya





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: OC449055 (England and Wales)





ACCOUNTANTS: AC Partners LLP
Chartered Accountants
869 High Road
London
N12 8QA

TARETON HOMES LLP (REGISTERED NUMBER: OC449055)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Investment property 4 500,000

CURRENT ASSETS
Debtors 35,966

CREDITORS
Amounts falling due within one year 5 1,320
NET CURRENT ASSETS 34,646
TOTAL ASSETS LESS CURRENT LIABILITIES 534,646

CREDITORS
Amounts falling due after more than one year 6 319,249
NET ASSETS ATTRIBUTABLE TO MEMBERS 215,397

LOANS AND OTHER DEBTS DUE TO MEMBERS 7 215,397

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 215,397
Amounts due from members (35,966 )
179,431

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 period 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.

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 19 August 2024 and were signed by:





P R Pithiya - Designated member

TARETON HOMES LLP (REGISTERED NUMBER: OC449055)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 12 SEPTEMBER 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Tareton Homes 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.

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

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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 period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,125,000
Disposals (625,000 )
At 31 March 2024 500,000
NET BOOK VALUE
At 31 March 2024 500,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 1,320

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 319,249

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 319,249

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.