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Registration number: OC439515

Nova Wimborne Square 110 LLP

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 31 March 2024

 

Nova Wimborne Square 110 LLP

(Registration number: OC439515)
Balance Sheet as at 31 March 2024

Note

31 March 2024
 £

31 March 2023
 £

Fixed assets

 

Investment property

4

1,100,000

1,306,627

Current assets

 

Debtors

5

208,128

5,654

Cash and short-term deposits

 

21,502

12,419

 

229,630

18,073

Creditors: Amounts falling due within one year

6

(19,630)

(14,700)

Net current assets

 

210,000

3,373

Net assets attributable to members

 

1,310,000

1,310,000

Represented by:

 

Members’ other interests

 

Members' capital classified as equity

 

1,310,000

1,310,000

   

1,310,000

1,310,000

Total members' interests

 

Amounts due from members

 

(207,228)

(3,379)

Equity

 

1,310,000

1,310,000

   

1,102,772

1,306,621

For the year ending 31 March 2024 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

The financial statements of Nova Wimborne Square 110 LLP (registered number OC439515) were approved by the Board and authorised for issue on 12 July 2024. They were signed on behalf of the limited liability partnership by:

.........................................
T G Lewis
Designated member

 

Nova Wimborne Square 110 LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

Nova Wimborne Square 110 LLP (LLP number:OC439515) is a limited liability partnership incorporated in England and Wales. Its registered office is 41 Commercial Road, Poole, Dorset, BH14 0HU.

The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting for Limited Liability Partnerships’ issued in December 2018.

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

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

2

Accounting policies

Revenue recognition

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.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Nova Wimborne Square 110 LLP

Notes to the Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2023 - 0).

4

Investment property

2024
£

At 1 April

1,306,627

Fair value adjustments

(206,627)

At 31 March

1,100,000

The property was valued in November 2023 by an independant valuer as £1,100,000.

5

Debtors

2024
£

2023
£

Trade debtors

-

2,275

Other debtors

207,228

3,379

Prepayments and accrued income

900

-

Total current trade and other debtors

208,128

5,654

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Trade creditors

870

13,200

Accruals and deferred income

18,760

1,500

19,630

14,700