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REGISTERED NUMBER: OC433681 (England and Wales)












NAISSANCE ESTATES LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2023






NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


NAISSANCE ESTATES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DESIGNATED MEMBERS: Mr J R Skelding
Scylding Group Limited
Mrs J Skelding





REGISTERED OFFICE: C/O Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea
SA7 9LA





REGISTERED NUMBER: OC433681 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 JULY 2023

The members present their report with the financial statements of the LLP for the year ended 31 July 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of estate rental and management.

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

Mr J R Skelding
Scylding Group Limited
Mrs J Skelding

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £55,692 (2022 - £21,763 loss).

MEMBERS' INTERESTS
The members are entitled to draw monthly, on account of profit, such sums as may from time to time be mutally agreed.

The capital requisite for carrying on this business of the LLP shall be agreed and contributed by the members from time to time. The total amount of and the respective contributions of the members to the fixed capital of the LLP shall be in the shares in which they are entitled to the net profits of the LLP.

ON BEHALF OF THE MEMBERS:





Mr J R Skelding - Designated member


29 August 2024

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JULY 2023

2023 2022
Notes £    £   

TURNOVER 151,740 27,823

Cost of sales 31,820 10,838
GROSS PROFIT 119,920 16,985

Administrative expenses 195,024 88,157
(75,104 ) (71,172 )

Other operating income 19,412 49,811
OPERATING LOSS 4 (55,692 ) (21,361 )


Interest payable and similar expenses - 402
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(55,692




)




(21,763




)

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 27,321 35,339
Investment property 6 2,689,264 2,689,264
2,716,585 2,724,603

CURRENT ASSETS
Debtors 7 85,865 36,525
Cash at bank and in hand 10,417 5,685
96,282 42,210
CREDITORS
Amounts falling due within one year 8 24,699 31,658
NET CURRENT ASSETS 71,583 10,552
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,788,168

2,735,155

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

3,350

3,350

MEMBERS' OTHER INTERESTS
Capital accounts 2,784,818 2,731,805
2,788,168 2,735,155

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 3,350 3,350
Members' other interests 2,784,818 2,731,805
Amounts due from members 7 (78,652 ) (22,960 )
2,709,516 2,712,195

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 July 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.

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

BALANCE SHEET - continued
31 JULY 2023


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 29 August 2024 and were signed by:





Mr J R Skelding - Designated member

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Naissance Estates 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.

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 - 33% on cost
Fixtures and fittings - 20% on cost

Cost comprises the purchase price of the asset and expenditure directly attributable to the acquisition of the item.

A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income statement.

Impairment of fixed assets
The company performs impairment testing where there are any indicators of impairment. Impairment is calculated as the difference between the carrying value and the recoverable value of the asset. Recoverable value is the higher of net realisable value and estimated value in use at the date the impairment loss is recognised. Value in use represents the present value of expected future discounted cash flows. If incurred, impairment is recognised immediately in the income statement.

Where an impairment loss subsequently reverses, the carrying value of the asset is increased to the revised estimate of the recoverable amount, but so that the increased carrying value does not exceed the carrying value that would have been determined if no impairment loss had been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the income statement.

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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

Taxation
Taxation on all the LLP's profits is solely the personal liability of individual members and is not dealt with in these financial statements.

Provisions
Provisions relate to contractual obligations og the LLP which are expected to give rise to a liability which is uncertain in timing or amount.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 8 (2022 - 1 ) .

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. OPERATING LOSS

The operating loss is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 10,298 9,589

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 August 2022 4,290 43,660 47,950
Additions - 2,280 2,280
At 31 July 2023 4,290 45,940 50,230
DEPRECIATION
At 1 August 2022 2,153 10,458 12,611
Charge for year 1,430 8,868 10,298
At 31 July 2023 3,583 19,326 22,909
NET BOOK VALUE
At 31 July 2023 707 26,614 27,321
At 31 July 2022 2,137 33,202 35,339

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 2,689,264
NET BOOK VALUE
At 31 July 2023 2,689,264
At 31 July 2022 2,689,264

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,068 3,967
Other debtors 83,797 32,558
85,865 36,525

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,181 15,476
Taxation and social security - 847
Other creditors 18,518 15,335
24,699 31,658

NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event. There are no restrictions or limitations on the ability of the members to reduce the amount of members' other interests.

10. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - -