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Registration number: OC342913

North Point One LLP

Annual Report and Unaudited Financial Statements

for the period from 1 February 2024 to 31 March 2024

 

North Point One LLP

Contents

Financial Statements

1 to 3

Balance Sheet

1

Notes to the Financial Statements

2

 

North Point One LLP

(Registration number: OC342913)
Balance Sheet as at 31 March 2024

Note

2024
£

2024
£

Fixed assets

 

Tangible assets

3

400,000

400,000

Creditors: Amounts falling due within one year

4

(360)

(760)

Net assets attributable to members

 

399,640

399,240

Represented by:

 

Loans and other debts due to members

 

Other amounts

5

399,640

399,240

   

399,640

399,240

Total members' interests

 

Loans and other debts due to members

 

399,640

399,240

   

399,640

399,240

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 North Point One LLP (registered number OC342913) were approved by the Board and authorised for issue on 13 September 2024. They were signed on behalf of the limited liability partnership by:

.........................................
Mr I A Mellor
Designated member

 

North Point One LLP

Notes to the Financial Statements for the Period from 1 February 2024 to 31 March 2024

1

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

General information and basis of accounting

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of North Point One LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

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.

Tangible fixed assets

Individual fixed assets costing £100 or more are initially recorded at cost.

Members' interests

Amounts due to members comprise certain loans from members which are not repayable within twelve months of the balance sheet date.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the period was 0 (2024 - 0).

 

North Point One LLP

Notes to the Financial Statements for the Period from 1 February 2024 to 31 March 2024

3

Tangible fixed assets

Land and buildings
£

Total
£

Cost

At 1 February 2024

400,000

400,000

At 31 March 2024

400,000

400,000

Net book value

At 31 March 2024

400,000

400,000

At 31 January 2024

400,000

400,000

4

Creditors: Amounts falling due within one year

2024
£

2024
£

Accruals and deferred income

360

760

5

Loans and other debts due to members

31 March 2024
 £

31 January 2024
 £

Money owed to members by the LLP

399,640

399,240

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.