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Registration number: OC435450

Nova Terminus 101 LLP

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 31 March 2024

 

Nova Terminus 101 LLP

Contents

Financial Statements

1 to 3

Balance Sheet

1

Notes to the Financial Statements

2

 

Nova Terminus 101 LLP

(Registration number: OC435450)
Balance Sheet as at 31 March 2024

Note

2024
 £

2023
 £

Fixed assets

 

Investment property

4

229,399

280,195

Current assets

 

Debtors

5

102,501

49,737

Cash and short-term deposits

 

3,146

13,272

 

105,647

63,009

Creditors: Amounts falling due within one year

6

(17,046)

(25,204)

Net current assets

 

88,601

37,805

Net assets attributable to members

 

318,000

318,000

Represented by:

 

Members’ other interests

 

Members' capital classified as equity

 

318,000

318,000

   

318,000

318,000

Total members' interests

 

Amounts due from members

 

(90,186)

(37,422)

Equity

 

318,000

318,000

   

227,814

280,578

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 Terminus 101 LLP (registered number OC435450) were approved by the Board and authorised for issue on 6 September 2024. They were signed on behalf of the limited liability partnership by:

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

 

Nova Terminus 101 LLP

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

1

General information

Nova Terminus 101 LLP (LLP number:OC435450) 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, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

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 services performed in the ordinary course of business.

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.

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.

 

Nova Terminus 101 LLP

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

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

280,195

Fair value adjustments

(50,796)

At 31 March

229,399

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 £313,121.

5

Debtors

2024
£

2023
£

Trade debtors

11,799

11,799

Other debtors

90,186

37,422

Prepayments and accrued income

516

516

Total current trade and other debtors

102,501

49,737

6

Creditors: Amounts falling due within one year

2024
£

2023
£

Other creditors

471

8,656

Accruals and deferred income

14,150

14,150

Taxation and social security

2,425

2,398

17,046

25,204