Registration number:
Nova Lemana 92 LLP
Annual Report and Unaudited Financial Statements - Companies House Filing
for the Year Ended 31 March 2024
Nova Lemana 92 LLP
(Registration number: OC428274)
Statement of Financial Position as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Net assets attributable to members |
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Represented by: |
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Members’ other interests |
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Members' capital classified as equity |
1,134,022 |
1,134,022 |
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1,134,022 |
1,134,022 |
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Total members' interests |
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Amounts due from members |
(297,228) |
(305,286) |
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Equity |
|
|
|
836,794 |
828,736 |
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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.
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 Lemana 92 LLP (registered number OC428274) were approved by the
Nova Lemana 92 LLP
(Registration number: OC428274)
Statement of Financial Position as at 31 March 2024
.........................................
Designated member
Nova Lemana 92 LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
Nova Lemana 92 LLP (LLP number: OC428274) is a limited liability partnership incorporated in England and Wales. Its registered office is 41 Commerical 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 (£).
Accounting policies |
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.
Revenue recognition
Revenue is recognised to the extent that the company 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.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
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.
Nova Lemana 92 LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Investment properties
The investment property is carried at fair value and is derived from the current market price for comparable real estate determined by external valuers. The valuers use observable market prices, adjusted if necessary far any difference in nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
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.
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.
Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
Investment property |
2024 |
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At 1 April |
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At 31 March |
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The investment property was revalued by the designated members at the balance sheet date at its market value
within the benefit of the existing lease. The historic cost of the property was £1,111,126.
Debtors |
2024 |
2023 |
|
Trade debtors |
|
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Other debtors |
|
|
355,865 |
363,923 |
Nova Lemana 92 LLP
Notes to the Financial Statements for the Year Ended 31 March 2024
Creditors: Amounts falling due within one year |
2024 |
2023 |
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Bank loans |
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Other creditors |
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Accruals and deferred income |
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Taxation and social security |
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Creditors amounts falling due within one year includes the following liabilities, on which security has been given by the limited liability partnership:
2024 |
2023 |
|
Bank loan |
- |
8,759 |
The bank loan is secured by way of a legal charge over the freehold property.
Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up. There is no provision for specific legally enforceable protection afforded to creditors in such an event.
There are no restrictions on the members' liability to reduce the amount of members' other interests.
Creditors: Amounts falling due after more than one year |
2024 |
2023 |
|
Bank loans |
- |
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Creditors amounts falling due after more than one year includes the following liabilities, on which security has been given by the limited liability partnership:
2024 |
2023 |
|
Bank loan |
- |
3,706 |
The bank loan is secured by way of a legal charge over the freehold property.