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Registered number: OC342131










TERRA DEVELOPMENTS LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
TERRA DEVELOPMENTS LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 4


 
TERRA DEVELOPMENTS LLP
REGISTERED NUMBER: OC342131

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
71,777
71,073

Cash at bank and in hand
  
25,199
31,275

  
96,976
102,348

Creditors: Amounts Falling Due Within One Year
 5 
(2,190)
(6,183)

Net current assets
  
 
 
94,786
 
 
96,165

Total assets less current liabilities
  
94,786
96,165

  

Net assets
  
94,786
96,165


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
94,786
96,165

  

  
94,786
96,165


Total members' interests
  

Loans and other debts due to members
 6 
94,786
96,165

  
94,786
96,165

Page 1

 
TERRA DEVELOPMENTS LLP
REGISTERED NUMBER: OC342131
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 480 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 24 July 2024.


Mr E Grove
Designated member

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
TERRA DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Terra Developments LLP is a limited liability partnership incorporated and domiciled in England. The address of it`s registered office and principal place of business is Rainier House, 62 High Street, Henley-in-Arden,Warwickshire, B95 5AN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

 
2.3

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 3

 
TERRA DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
2023
£
£


Other debtors
71,777
71,073



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,440
5,433

Accruals and deferred income
750
750

2,190
6,183



6.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
94,786
96,165

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
94,786
96,165

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

Page 4