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REGISTERED NUMBER: OC411367 (England and Wales)























Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Planos Villa LLP

Planos Villa LLP (Registered number: OC411367)

Contents of the Financial Statements
for the Year Ended 5 April 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Planos Villa LLP

General Information
for the Year Ended 5 April 2024







DESIGNATED MEMBERS: M J Chester
Mrs N J Utley
B J Utley
Mrs K A Chester





REGISTERED OFFICE: Legacy House
407 Preston Road
Clayton Le Woods
Chorley
Lancs
PR6 7JA





REGISTERED NUMBER: OC411367 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Planos Villa LLP (Registered number: OC411367)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 344,511 344,511

CREDITORS
Amounts falling due within one year 5 13,737 12,442
NET CURRENT LIABILITIES (13,737 ) (12,442 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

330,774

332,069

CREDITORS
Amounts falling due after more than one
year

6

80,924

88,937
NET ASSETS ATTRIBUTABLE TO
MEMBERS

249,850

243,132

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

249,850

243,132

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 249,850 243,132

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 5 April 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.

Planos Villa LLP (Registered number: OC411367)

Balance Sheet - continued
5 April 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 9 October 2024 and were signed by:




M J Chester - Designated member




B J Utley - Designated member


Planos Villa LLP (Registered number: OC411367)

Notes to the Financial Statements
for the Year Ended 5 April 2024


1. STATUTORY INFORMATION

Planos Villa 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.

COVID-19
On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic. The LLP has remained largely unaffected and this has not had a significant impact on operations to date. The Designated Members will continue to monitor and assess the ongoing effects and respond accordingly and as such the accounts have been prepared on a going concern basis.

Income
Income represents the value of rental income received.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023
and 5 April 2024 344,511
NET BOOK VALUE
At 5 April 2024 344,511
At 5 April 2023 344,511

The members have reviewed the fair value of the property at the balance sheet date and are satisfied that no adjustment is required this year.

Planos Villa LLP (Registered number: OC411367)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Bank loans and overdrafts (see note 7) 12,177 10,882
Accrued expenses 1,560 1,560
13,737 12,442

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
5.4.24 5.4.23
£    £   
Bank loans (see note 7) 80,924 88,937

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 32,205 45,401

7. LOANS

An analysis of the maturity of loans is given below:

5.4.24 5.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans - less than 1 yr 12,177 10,882

Amounts falling due between one and two years:
Bank loans - 1-2 years 12,180 10,884

Amounts falling due between two and five years:
Bank loans - 2-5 years 36,539 32,652

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 32,205 45,401

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Do not hold any priority over other creditors and therefore rank equally.