REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
First Homes Partnership (North West) LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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: |
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: |
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 | ) |
Other operating income |
OPERATING LOSS | ( |
) | ( |
) |
Interest receivable and similar income |
(11,214 | ) | (34,008 | ) |
Interest payable and similar expenses |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
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 |
CURRENT ASSETS |
Stocks |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
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 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 were approved by the members of the LLP and authorised for issue on |
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 |
Tangible fixed assets |
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 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Other creditors |
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 |
Hire purchase contracts |
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 |