Silverfin false 31/03/2024 01/04/2023 31/03/2024 F M Garvey 30/07/2014 T G Lewis 30/07/2014 23 August 2024 OC394547 2024-03-31 OC394547 bus:Director1 2024-03-31 OC394547 bus:Director2 2024-03-31 OC394547 2023-03-31 OC394547 core:CurrentFinancialInstruments 2024-03-31 OC394547 core:CurrentFinancialInstruments 2023-03-31 OC394547 2023-04-01 2024-03-31 OC394547 bus:FullAccounts 2023-04-01 2024-03-31 OC394547 bus:SmallEntities 2023-04-01 2024-03-31 OC394547 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC394547 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC394547 bus:Director1 2023-04-01 2024-03-31 OC394547 bus:Director2 2023-04-01 2024-03-31 OC394547 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: OC394547 (England and Wales)

NOVA CHRISTCHURCH 43 LLP

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

NOVA CHRISTCHURCH 43 LLP

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

NOVA CHRISTCHURCH 43 LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 March 2024
NOVA CHRISTCHURCH 43 LLP

LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 March 2024
DESIGNATED MEMBERS F M Garvey
T G Lewis
REGISTERED OFFICE 41 Commercial Road
Poole
BH14 0HU
United Kingdom
REGISTERED NUMBER OC394547 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Towngate House
2-8 Parkstone Road
Poole
Dorset BH15 2PW
NOVA CHRISTCHURCH 43 LLP

BALANCE SHEET

As at 31 March 2024
NOVA CHRISTCHURCH 43 LLP

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 176,188 176,188
176,188 176,188
Current assets
Debtors 4 35,394 52,847
Cash at bank and in hand 14,571 20,778
49,965 73,625
Creditors: amounts falling due within one year 5 ( 21,587) ( 42,843)
Net current assets 28,378 30,782
Total assets less current liabilities 204,566 206,970
Net assets attributable to members 204,566 206,970
Represented by
Members' other interests
Members' capital classified as equity 243,000 243,000
Revaluation reserve (50,925) (50,925)
Other reserves 12,491 14,895
204,566 206,970
204,566 206,970
Total members' interests
Amounts due from members (included in debtors) (16,831) (20,791)
Members' other interests 204,566 206,970
187,735 186,179

For the financial 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.

Members' responsibilities:

The financial statements of Nova Christchurch 43 LLP (registered number: OC394547) were approved and authorised for issue by the Board of Directors on 23 August 2024. They were signed on its behalf by:

T G Lewis
Designated member
NOVA CHRISTCHURCH 43 LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
NOVA CHRISTCHURCH 43 LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Nova Christchurch 43 LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 41 Commercial Road, Poole, Dorset, BH14 0HU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to LLPs subject to the small LLPs regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

Turnover

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty. Revenue comprises of rents receivable.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the LLP intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 176,188
As at 31 March 2024 176,188

Valuation

The Investment property was revalued by the designated members at the balance sheet date at its market value with the benefit of the existing lease.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 227,113 227,113

4. Debtors

2024 2023
£ £
Trade debtors 18,563 32,056
Amounts owed by members 16,831 20,791
35,394 52,847

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 15,307 15,172
Other taxation and social security 2,735 5,367
Other creditors 3,545 22,304
21,587 42,843