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REGISTERED NUMBER: OC399093 (England and Wales)











REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

CHINEWOOD HOMES LLP

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


CHINEWOOD HOMES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: N A J Ellis
J D M Ellis





REGISTERED OFFICE: Old Library House
4 Dean Park Crescent
Bournemouth
Dorset
BH1 1LY





REGISTERED NUMBER: OC399093 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023


The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the collection of ground rent.

DESIGNATED MEMBERS
The designated members during the year under review were:

N A J Ellis
J D M Ellis

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £22,441 (2022 - £33,503 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





N A J Ellis - Designated member


23 October 2024

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
£    £   

TURNOVER 5,544 5,164

Administrative expenses 23,167 32,854
OPERATING LOSS (17,623 ) (27,690 )


Interest payable and similar expenses 4,818 5,813
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





(22,441





)





(33,503





)

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,512 85,332
Investment property 5 5,000 5,000
49,512 90,332

CURRENT ASSETS
Debtors 6 100,972 102,081
Cash at bank 609 -
101,581 102,081
CREDITORS
Amounts falling due within one year 7 104,593 76,869
NET CURRENT (LIABILITIES)/ASSETS (3,012 ) 25,212
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,500

115,544

CREDITORS
Amounts falling due after more than one
year

8

28,424

89,614
NET ASSETS ATTRIBUTABLE TO
MEMBERS

18,076

25,930

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

BALANCE SHEET - continued
31 MARCH 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

18,076

25,930

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 18,076 25,930
Amounts due from members 6 (3,501 ) (5,325 )
14,575 20,605

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 2023.

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.

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

The financial statements were approved by the members of the LLP and authorised for issue on 23 October 2024 and were signed by:





N A J Ellis - Designated member

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Chinewood Homes 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 represents rent received during the period.

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.
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2022 - 2 ) .

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 April 2022 143,230
Disposals (52,790 )
At 31 March 2023 90,440
DEPRECIATION
At 1 April 2022 57,898
Charge for year 14,838
Eliminated on disposal (26,808 )
At 31 March 2023 45,928
NET BOOK VALUE
At 31 March 2023 44,512
At 31 March 2022 85,332

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022 143,230
Disposals (52,790 )
At 31 March 2023 90,440
DEPRECIATION
At 1 April 2022 57,898
Charge for year 14,838
Eliminated on disposal (26,808 )
At 31 March 2023 45,928
NET BOOK VALUE
At 31 March 2023 44,512
At 31 March 2022 85,332

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 5,000
NET BOOK VALUE
At 31 March 2023 5,000
At 31 March 2022 5,000

An appraisal of the investment property has been made by directors on a fair value basis as at 31 March 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,044 712
Other debtors 99,928 101,369
100,972 102,081

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,225 10,000
Hire purchase contracts 54,783 46,194
Trade creditors 4,550 4,550
Taxation and social security 6,714 6,885
Other creditors 17,321 9,240
104,593 76,869

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 28,424 38,424
Hire purchase contracts - 51,190
28,424 89,614

CHINEWOOD HOMES LLP (REGISTERED NUMBER: OC399093)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 49,649 48,424
Hire purchase contracts 54,783 97,384
104,432 145,808

The hire purchase loans are secured against the assets to which they relate.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.