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REGISTERED NUMBER: OC311382 (England and Wales)















CESSATION FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2023 TO 31 JULY 2024

FOR

ITT PRODUCTION LLP

ITT PRODUCTION LLP (REGISTERED NUMBER: OC311382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 March 2023 to 31 July 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ITT PRODUCTION LLP

GENERAL INFORMATION
FOR THE PERIOD 1 March 2023 to 31 July 2024







DESIGNATED MEMBERS: Justington Group Limited
Shelton Assets Limited





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: OC311382 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

ITT PRODUCTION LLP (REGISTERED NUMBER: OC311382)

BALANCE SHEET
31 July 2024

31.7.24 28.2.23
Notes $    $    $    $   
FIXED ASSETS
Intangible assets 4 - 503

CURRENT ASSETS
Cash at bank - 4,980,933

CREDITORS
Amounts falling due within one year 5 15,412 5,021,388
NET CURRENT LIABILITIES (15,412 ) (40,455 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET LIABILITIES ATTRIBUTABLE TO
MEMBERS

(15,412

)

(39,952

)

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

11,183,152

11,133,465

MEMBERS' OTHER INTERESTS
Capital accounts 1,000 1,000
Other reserves (11,199,564 ) (11,174,417 )
(15,412 ) (39,952 )

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 11,183,152 11,133,465
Members' other interests (11,198,564 ) (11,173,417 )
(15,412 ) (39,952 )

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 period ended 31 July 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.

ITT PRODUCTION LLP (REGISTERED NUMBER: OC311382)

BALANCE SHEET - continued
31 July 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 24 October 2024 and were signed by:




Justington Group Limited - Designated member




Shelton Assets Limited - Designated member


ITT PRODUCTION LLP (REGISTERED NUMBER: OC311382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 March 2023 to 31 July 2024

1. STATUTORY INFORMATION

ITT Production 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of eight years.

Foreign currencies
Assets and liabilities in foreign currencies are translated into US $ at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into US $ at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

The presentation currency used in the financial statements for the period ended 31 July 2024 and 28 February 2023 is US $ and its functional currency is also US $.

3. EMPLOYEE INFORMATION

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
$   
COST
At 1 March 2023 1,600
Disposals (1,600 )
At 31 July 2024 -
AMORTISATION
At 1 March 2023 1,097
Eliminated on disposal (1,097 )
At 31 July 2024 -
NET BOOK VALUE
At 31 July 2024 -
At 28 February 2023 503

ITT PRODUCTION LLP (REGISTERED NUMBER: OC311382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 March 2023 to 31 July 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 28.2.23
$    $   
Bank loans and overdrafts - 326
Trade creditors - 4,956,368
Other creditors 15,412 64,694
15,412 5,021,388

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.