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REGISTERED NUMBER: OC398486 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Farnley Estates (No 1) LLP

Farnley Estates (No 1) LLP (Registered number: OC398486)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Farnley Estates (No 1) LLP

General Information
for the Year Ended 29 February 2024







DESIGNATED MEMBERS: Mr T P Sykes
Mr J D Sykes





REGISTERED OFFICE: Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW





REGISTERED NUMBER: OC398486 (England and Wales)





ACCOUNTANTS: Harris & Co Limited
Chartered Accountants
Marland House
13 Huddersfield Road
Barnsley
South Yorkshire
S70 2LW

Farnley Estates (No 1) LLP (Registered number: OC398486)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 204,928 206,163

CURRENT ASSETS
Debtors 6 1,201 878,453
Cash at bank 867,605 128,635
868,806 1,007,088
CREDITORS
Amounts falling due within one year 7 (733,038 ) (2,900 )
NET CURRENT ASSETS 135,768 1,004,188
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

340,696

1,210,351

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

258,213

1,127,868

MEMBERS' OTHER INTERESTS
Capital accounts 82,483 82,483
340,696 1,210,351

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 258,213 1,127,868
Members' other interests 82,483 82,483
340,696 1,210,351

Farnley Estates (No 1) LLP (Registered number: OC398486)

Balance Sheet - continued
29 February 2024


The Llp is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 29 February 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the Llp keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Llp as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the Llp.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 September 2024 and were signed by:





Mr T P Sykes - Designated member

Farnley Estates (No 1) LLP (Registered number: OC398486)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Farnley Estates (No 1) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation and functional currency of the financial statements is the Pound Sterling (£).

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over is estimated useful life.

Freehold land - land is not depreciated

4. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Freehold
land
£   
COST
At 1 March 2023 206,163
Disposals (1,235 )
At 29 February 2024 204,928
NET BOOK VALUE
At 29 February 2024 204,928
At 28 February 2023 206,163

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,201 1,201
Other debtors - 877,252
1,201 878,453

Farnley Estates (No 1) LLP (Registered number: OC398486)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 730,138 -
Other creditors 2,900 2,900
733,038 2,900

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 258,213 1,127,868

Falling due within one year 258,213 1,127,868

The loans and other debts due to members' (other than members' capital classified as debt) rank equal in relation to other creditors.