REGISTERED NUMBER: |
NAISSANCE ESTATES LLP |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 JULY 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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: |
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: |
NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 JULY 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
(75,104 | ) | (71,172 | ) |
Other operating income |
OPERATING LOSS | 4 | ( |
) | ( |
) |
Interest payable and similar expenses |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
NAISSANCE ESTATES LLP (REGISTERED NUMBER: OC433681) |
BALANCE SHEET |
31 JULY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
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 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
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 |