Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2023 1 December 2022 false 1 December 2023 31 March 2024 31 March 2024 OC414479 Mr Simon Froom Mrs Anne Froom iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC414479 2023-11-30 OC414479 2024-03-31 OC414479 2023-12-01 2024-03-31 OC414479 frs-core:CurrentFinancialInstruments 2024-03-31 OC414479 frs-core:FurnitureFittings 2024-03-31 OC414479 frs-core:FurnitureFittings 2023-12-01 2024-03-31 OC414479 frs-core:FurnitureFittings 2023-11-30 OC414479 frs-bus:LimitedLiabilityPartnershipLLP 2023-12-01 2024-03-31 OC414479 frs-bus:LimitedLiabilityPartnershipsSORP 2023-12-01 2024-03-31 OC414479 frs-bus:FilletedAccounts 2023-12-01 2024-03-31 OC414479 frs-bus:SmallEntities 2023-12-01 2024-03-31 OC414479 frs-bus:AuditExempt-NoAccountantsReport 2023-12-01 2024-03-31 OC414479 frs-bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-03-31 OC414479 frs-countries:EnglandWales 2023-12-01 2024-03-31 OC414479 frs-bus:PartnerLLP1 2023-12-01 2024-03-31 OC414479 frs-bus:PartnerLLP2 2023-12-01 2024-03-31 OC414479 2022-11-30 OC414479 2023-11-30 OC414479 2022-12-01 2023-11-30 OC414479 frs-core:CurrentFinancialInstruments 2023-11-30
Registered number: OC414479
LPF Property Ventures LLP
Unaudited Financial Statements
For the Period 1 December 2023 to 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC414479
31 March 2024 30 November 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,359 -
2,359 -
CURRENT ASSETS
Debtors 5 10,769 -
Cash at bank and in hand 1,234 10,284
12,003 10,284
Creditors: Amounts Falling Due Within One Year 6 (233 ) (15,455 )
NET CURRENT ASSETS (LIABILITIES) 11,770 (5,171 )
TOTAL ASSETS LESS CURRENT LIABILITIES 14,129 (5,171 )
NET ASSETS/(LIABILITIES) ATTRIBUTABLE TO MEMBERS 14,129 (5,171 )
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability (25,936) (45,236)
Other amounts 40,065 40,065
14,129 (5,171)
14,129 (5,171)
TOTAL MEMBERS' INTEREST
Amounts due from members (10,769) -
Loans and other debts due to members within one year 14,129 (5,171)
3,360 (5,171)
Page 1
Page 2
For the period 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Simon Froom
Designated Member
09/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
LPF Property Ventures LLP is a limited liability partnership, incorporated in England & Wales, registered number OC414479 . The Registered Office is Little Park Farm, The Forehead, Mortimer, RG7 2AR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 4 years straight line
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL (2023: NIL)
- -
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 December 2023 -
Additions 2,516
As at 31 March 2024 2,516
Depreciation
As at 1 December 2023 -
Provided during the period 157
As at 31 March 2024 157
Net Book Value
As at 31 March 2024 2,359
As at 1 December 2023 -
5. Debtors
31 March 2024 30 November 2023
£ £
Due within one year
Amounts due from members 10,769 -
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 30 November 2023
£ £
Trade creditors (9,531 ) 5,529
Other creditors 9,764 9,926
233 15,455
Page 4