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REGISTERED NUMBER: OC444339 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 20 OCTOBER 2022 TO 31 MARCH 2024

FOR

ASPLEY GROUP LLP

ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 20 October 2022 to 31 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


ASPLEY GROUP LLP

GENERAL INFORMATION
for the Period 20 October 2022 to 31 March 2024







DESIGNATED MEMBERS: Mrs J Barrett
A Barrett





REGISTERED OFFICE: North Common Farm
Woburn Road
Marston Moretaine
Bedfordshire
MK43 0NN





REGISTERED NUMBER: OC444339 (England and Wales)





ACCOUNTANTS: S R Lynn & Co
Chartered Certified Accountants
6 Partridge Lane
Bromham
Bedford
Bedfordshire
MK43 8PQ

ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339)

REPORT OF THE MEMBERS
for the Period 20 October 2022 to 31 March 2024

The members present their report with the financial statements of the LLP for the period 20 October 2022 to 31 March 2024.

INCORPORATION
The LLP was incorporated on 20 October 2022 and commenced trading on 1 July 2023.

CESSATION OF TRADING
The LLP ceased trading on 1 August 2023. The LLP was then incorporated into a Limited company, Aspley Group Holdings Limited.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of property development and letting.

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

Mrs J Barrett
A Barrett

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The profit for the period before members' remuneration and profit shares was £103,520.

MEMBERS' INTERESTS
Members' capital
The LLP was financed through Members capital introduced.

Members' drawings
The overall policy for Members' drawings is to advance a proportion of the profit during the financial year, taking into account amounts due to settle Members' income tax liabilities.

ON BEHALF OF THE MEMBERS:





A Barrett - Designated member


29 May 2024

ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339)

INCOME STATEMENT
for the Period 20 October 2022 to 31 March 2024

£   

TURNOVER 202,130

Administrative expenses 64,355
137,775

Other operating income 4,922
OPERATING PROFIT 142,697


Interest payable and similar expenses 39,177
PROFIT FOR THE FINANCIAL PERIOD
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




103,520

ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339)

BALANCE SHEET
31 March 2024

Notes £   
FIXED ASSETS
Tangible assets 4 -
Investments 5 9,520,875
Investment property 6 -
9,520,875
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

9,520,875

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

9,520,875

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 9,520,875

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 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 May 2024 and were signed by:





A Barrett - Designated member

ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 20 October 2022 to 31 March 2024

1. STATUTORY INFORMATION

Aspley Group LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Rental income
Rental income from leases is credited to the Income Statement on a straight line basis over the term of the relevant lease.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the asset is diminished.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective method, less any impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL.

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 39,542
Reclassification/transfer (39,542 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -

ASPLEY GROUP LLP (REGISTERED NUMBER: OC444339)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 20 October 2022 to 31 March 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 9,520,875
At 31 March 2024 9,520,875
NET BOOK VALUE
At 31 March 2024 9,520,875

The LLP's investments at the Balance Sheet date in the share capital of companies include the following:

Aspley Group Holdings Limited
Registered office: North Common Farm, Woburn Road, Lidlington, Bedfordshire, MK430NN
Nature of business: Land and building rentals
%
Class of shares: holding
Ordinary 100.00

The properties were transferred to a UK incorporated company that is connected to the partners (Aspley Group Holdings Limited, CRN: 14445132) as part of the transfer of the entire assets & trade of a residential letting business. Therefore, the proceeds represent the estimated market value of the properties transferred at that date. The estimated market values were provided by an independent professional property valuation expert (Sherwill Drake Forbes).

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 16,315,000
Reclassification/transfer (16,315,000 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
£   
Amounts owed to members in respect of profits 9,520,875

Falling due within one year 9,520,875

Designated Members capital accounts,are classified as debt.