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REGISTERED NUMBER: OC367980 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

ELEVATION LETTINGS LLP

ELEVATION LETTINGS LLP (REGISTERED NUMBER: OC367980)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELEVATION LETTINGS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: P Thomas
P Lightfoot
M E Gray





REGISTERED OFFICE: Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS





REGISTERED NUMBER: OC367980 (England and Wales)





ACCOUNTANTS: Landers Accountants Ltd
Church View Chambers
38 Market Square
Toddington
Bedfordshire
LU5 6BS

ELEVATION LETTINGS LLP (REGISTERED NUMBER: OC367980)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,026 3,167
Investments 5 149,467 149,467
151,493 152,634

CURRENT ASSETS
Debtors 6 17,754 38,754
Cash at bank 135,343 167,356
153,097 206,110
CREDITORS
Amounts falling due within one year 7 269,130 301,258
NET CURRENT LIABILITIES (116,033 ) (95,148 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

35,460

57,486

LOANS AND OTHER DEBTS DUE TO
MEMBERS

35,460

57,486

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 35,460 57,486
Amounts due from members 6 (14,061 ) (4,972 )
21,399 52,514

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.

ELEVATION LETTINGS LLP (REGISTERED NUMBER: OC367980)

BALANCE SHEET - 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 10 July 2024 and were signed by:




P Thomas - Designated member




P Lightfoot - Designated member


ELEVATION LETTINGS LLP (REGISTERED NUMBER: OC367980)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Elevation Lettings 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 8 (2023 - 9 ) .

ELEVATION LETTINGS LLP (REGISTERED NUMBER: OC367980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 92,321
Additions 598
At 31 March 2024 92,919
DEPRECIATION
At 1 April 2023 89,154
Charge for year 1,739
At 31 March 2024 90,893
NET BOOK VALUE
At 31 March 2024 2,026
At 31 March 2023 3,167

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 59,500
DEPRECIATION
At 1 April 2023
and 31 March 2024 59,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

ELEVATION LETTINGS LLP (REGISTERED NUMBER: OC367980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 149,467
NET BOOK VALUE
At 31 March 2024 149,467
At 31 March 2023 149,467

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 418
Other debtors 17,754 38,336
17,754 38,754

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 18,355 55,423
Amounts owed to group undertakings 109,290 110,816
Taxation and social security 39,057 34,516
Other creditors 102,428 100,503
269,130 301,258

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 19,993 20,814
Between one and five years 21,455 23,482
41,448 44,296