Acorah Software Products - Accounts Production 15.0.600 false true 5 April 2023 6 April 2022 false 6 April 2023 5 April 2024 5 April 2024 OC424404 Mr KETAN CHUDASAMA Mrs POONAM CHUDASAMA iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC424404 2023-04-05 OC424404 2024-04-05 OC424404 2023-04-06 2024-04-05 OC424404 frs-core:CurrentFinancialInstruments 2024-04-05 OC424404 frs-core:Non-currentFinancialInstruments 2024-04-05 OC424404 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC424404 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-06 2024-04-05 OC424404 frs-bus:FilletedAccounts 2023-04-06 2024-04-05 OC424404 frs-bus:SmallEntities 2023-04-06 2024-04-05 OC424404 frs-bus:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC424404 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 OC424404 frs-countries:EnglandWales 2023-04-06 2024-04-05 OC424404 frs-bus:PartnerLLP1 2023-04-06 2024-04-05 OC424404 frs-bus:PartnerLLP2 2023-04-06 2024-04-05 OC424404 2022-04-05 OC424404 2023-04-05 OC424404 2022-04-06 2023-04-05 OC424404 frs-core:CurrentFinancialInstruments 2023-04-05 OC424404 frs-core:Non-currentFinancialInstruments 2023-04-05
Registered number: OC424404
CHUDASAMA PROPERTY INVESTMENT LLP
Unaudited Financial Statements
For The Year Ended 5 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC424404
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 804,074 1,009,574
804,074 1,009,574
CURRENT ASSETS
Debtors 5 8,874 -
Cash at bank and in hand 1,852 5,335
10,726 5,335
Creditors: Amounts Falling Due Within One Year 6 (50,960 ) (50,960 )
NET CURRENT ASSETS (LIABILITIES) (40,234 ) (45,625 )
TOTAL ASSETS LESS CURRENT LIABILITIES 763,840 963,949
Creditors: Amounts Falling Due After More Than One Year 7 (458,034 ) (638,164 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 305,806 325,785
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 1,001,200 1,001,200
Other amounts 6,876 16,625
1,008,076 1,017,825
Equity
Members' other interests
Members' capital (712,934) (693,392)
Other reserves 10,664 1,352
(702,270) (692,040)
305,806 325,785
TOTAL MEMBERS' INTEREST
Amounts due from members (8,874) -
Loans and other debts due to members within one year 1,008,076 1,017,825
Members' other interests (702,270) (692,040)
296,932 325,785
Page 1
Page 2
For the year ending 5 April 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr KETAN CHUDASAMA
Designated Member
06/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
CHUDASAMA PROPERTY INVESTMENT LLP is a limited liability partnership, incorporated in England & Wales, registered number OC424404 . The Registered Office is 2 BLENHEIM ROAD, HARROW, HA2 7AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including members, during the year was as follows: NIL (2023: NIL)
- -
4. Investment Property
2024
£
Fair Value
As at 6 April 2023 1,009,574
Disposals (205,500 )
As at 5 April 2024 804,074
5. Debtors
2024 2023
£ £
Due within one year
Amounts due from members 8,874 -
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 50,000 50,000
Accruals and deferred income 960 960
50,960 50,960
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 458,034 638,164
Page 4