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REGISTERED NUMBER: OC341094 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

First Homes Partnership (North West) LLP

First Homes Partnership (North West) LLP (Registered number: OC341094)






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




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


First Homes Partnership (North West) LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: J Renwick
Mrs G Renwick





REGISTERED OFFICE: Unit 4 Discovery Works
Trafford Park
Trafford Park Road
Manchester
M17 1AN





REGISTERED NUMBER: OC341094 (England and Wales)





ACCOUNTANTS: Woodhouse
25 Netherwood Road
Manchester
M22 4BW

First Homes Partnership (North West) LLP (Registered number: OC341094)

Report of the Members
for the Year Ended 31 March 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property development and rental.

DESIGNATED MEMBERS
The designated members during the year under review were:

J Renwick
Mrs G Renwick

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £11,214 (2023 - £36,749 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mrs G Renwick - Designated member


29 May 2024

First Homes Partnership (North West) LLP (Registered number: OC341094)

Income Statement
for the Year Ended 31 March 2024

31.3.24 31.3.23
£    £   

TURNOVER - -

Administrative expenses 25,500 41,317
(25,500 ) (41,317 )

Other operating income 12,781 7,309
OPERATING LOSS (12,719 ) (34,008 )

Interest receivable and similar income 1,505 -
(11,214 ) (34,008 )

Interest payable and similar expenses - 2,741
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(11,214




)




(36,749




)

First Homes Partnership (North West) LLP (Registered number: OC341094)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 329,763 32,540

CURRENT ASSETS
Stocks 344,467 -
Cash at bank 2,326 135,009
346,793 135,009
CREDITORS
Amounts falling due within one year 5 3,863 450
NET CURRENT ASSETS 342,930 134,559
TOTAL ASSETS LESS CURRENT
LIABILITIES

672,693

167,099

CREDITORS
Amounts falling due after more than one
year

6

241,229

31,040
NET ASSETS ATTRIBUTABLE TO
MEMBERS

431,464

136,059

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

431,464

136,059

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 431,464 136,059

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.

First Homes Partnership (North West) LLP (Registered number: OC341094)

Balance Sheet - continued
31 March 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 29 May 2024 and were signed by:





Mrs G Renwick - Designated member

First Homes Partnership (North West) LLP (Registered number: OC341094)

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

1. STATUTORY INFORMATION

First Homes Partnership (North West) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 - 32,540 32,540
Additions 294,328 2,895 297,223
At 31 March 2024 294,328 35,435 329,763
NET BOOK VALUE
At 31 March 2024 294,328 35,435 329,763
At 31 March 2023 - 32,540 32,540

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,413 -
Other creditors 450 450
3,863 450

First Homes Partnership (North West) LLP (Registered number: OC341094)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 213,750 -
Hire purchase contracts 27,479 31,040
241,229 31,040

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

The loans from the members rank below the loan from together finance which has a charge on the property 67 Canterbury Road