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REGISTERED NUMBER: OC396598 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

Godwit Haven LLP

Godwit Haven LLP (Registered number: OC396598)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Godwit Haven LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr P Gudka
Mr D S Leigh
Mr J S Orchard
Mr G E Smith





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: OC396598 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Godwit Haven LLP (Registered number: OC396598)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 6,000,000 6,000,000

CURRENT ASSETS
Debtors 5 99,404 117,456
Cash at bank 105,640 81,476
205,044 198,932
CREDITORS
Amounts falling due within one year 6 (109,563 ) (119,716 )
NET CURRENT ASSETS 95,481 79,216
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

6,095,481

6,079,216

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

125,495

69,230

MEMBERS' OTHER INTERESTS
Capital accounts 9,569,986 9,609,986
Fair value reserve 8 (3,600,000 ) (3,600,000 )
6,095,481 6,079,216

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 125,495 69,230
Members' other interests 5,969,986 6,009,986
Amounts due from members 5 - (12 )
6,095,481 6,079,204

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 31 March 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.

Godwit Haven LLP (Registered number: OC396598)

Statement of Financial Position - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 August 2024 and were signed by:





Mr P Gudka - Designated member

Godwit Haven LLP (Registered number: OC396598)

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

1. STATUTORY INFORMATION

Godwit Haven 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 currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Income comprises rent receivable and other income from investment properties net of value added tax and is recognised on an accruals basis. Benefits provided to lessees in the form of rent free periods and capital contributions are treated as a reduction in the overall return on the lease and are recognised on a straight line basis over the full term of the lease.

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 6,000,000
NET BOOK VALUE
At 31 March 2024 6,000,000
At 31 March 2023 6,000,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 6,000,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 9,600,000 9,600,000

The investment properties were valued on an open market basis on 31 March 2024 by the members .

Godwit Haven LLP (Registered number: OC396598)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,456 42,444
Amounts due from members - 12
Other debtors 65,948 75,000
99,404 117,456

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,826 3,309
VAT 15,221 27,607
Other creditors 43,753 36,081
Accruals and deferred income 48,763 52,719
109,563 119,716

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with other unsecured creditors in the event of a winding up of the LLP. There are no restrictions on the ability of the members to reduce the amount of members’ other interests.

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 (3,600,000 )

9. RELATED PARTY DISCLOSURES

During the year, the LLP paid Mr P Gudka £9,000 (2023: £18,000) for accountancy services. The LLP also paid Mr G E Smith £9,000 (2023: £18,000) for property consultancy services. Both, Mr P Gudka and Mr G E Smith are designated members.


At the reporting date, the LLP was owed £35,000 (2023: £75,000) by KOP Pavement Shopping Limited, a company related by virtue of common ownership. This amount is unsecured, interest-free and repayable on demand.