IRIS Accounts Production v24.1.0.578 OC420114 designated member 31.3.23 30.3.24 30.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4201142023-03-30OC4201142024-03-30OC4201142023-03-312024-03-30OC4201142022-03-30OC4201142022-03-312023-03-30OC4201142023-03-30OC420114ns15:EnglandWales2023-03-312024-03-30OC420114ns14:PoundSterling2023-03-312024-03-30OC420114ns10:Director12023-03-312024-03-30OC420114ns10:LimitedLiabilityPartnershipLLP2023-03-312024-03-30OC420114ns10:SmallEntities2023-03-312024-03-30OC420114ns10:AuditExempt-NoAccountantsReport2023-03-312024-03-30OC420114ns10:SmallCompaniesRegimeForAccounts2023-03-312024-03-30OC420114ns10:LimitedLiabilityPartnershipsSORP2023-03-312024-03-30OC420114ns10:FullAccounts2023-03-312024-03-30OC420114ns10:Director22023-03-312024-03-30OC420114ns10:Director32023-03-312024-03-30OC420114ns10:RegisteredOffice2023-03-312024-03-30OC420114ns5:CurrentFinancialInstruments2024-03-30OC420114ns5:CurrentFinancialInstruments2023-03-30OC420114ns5:Non-currentFinancialInstruments2024-03-30OC420114ns5:Non-currentFinancialInstruments2023-03-30OC420114ns5:RevaluationReserve2024-03-30OC420114ns5:RevaluationReserve2023-03-30OC420114ns5:CapitalRedemptionReserve2024-03-30OC420114ns5:CapitalRedemptionReserve2023-03-30OC420114ns5:PlantMachinery2023-03-312024-03-30OC420114ns5:PlantMachinery2023-03-30OC420114ns5:PlantMachinery2024-03-30OC420114ns5:PlantMachinery2023-03-30OC420114ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-30OC420114ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-30OC420114ns5:RevaluationReserve2023-03-30
REGISTERED NUMBER: OC420114 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2024

FOR

BROOM DEVELOPMENTS LLP

BROOM DEVELOPMENTS LLP (REGISTERED NUMBER: OC420114)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BROOM DEVELOPMENTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DESIGNATED MEMBERS: Mr S P Ablett
Mrs J F Ablett
Rowan Lodge Properties Limited





REGISTERED OFFICE: Rowan Lodge
71b High Street
Broom
Biggleswade
SG18 9NA





REGISTERED NUMBER: OC420114 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

BROOM DEVELOPMENTS LLP (REGISTERED NUMBER: OC420114)

STATEMENT OF FINANCIAL POSITION
30 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,121 12,161
Investment property 5 2,221,147 2,221,147
2,230,268 2,233,308

CURRENT ASSETS
Debtors 6 10,353 -
Cash at bank 11,443 40,811
21,796 40,811
CREDITORS
Amounts falling due within one year 7 4,761 4,605
NET CURRENT ASSETS 17,035 36,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,247,303

2,269,514

CREDITORS
Amounts falling due after more than one year 8 3,663 6,724
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,243,640

2,262,790

BROOM DEVELOPMENTS LLP (REGISTERED NUMBER: OC420114)

STATEMENT OF FINANCIAL POSITION - continued
30 MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 2,128,403 2,153,138
Revaluation reserve 9 135,000 135,000
Other reserves (19,763 ) (25,348 )
2,243,640 2,262,790

TOTAL MEMBERS' INTERESTS
Members' other interests 2,243,640 2,262,790

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 30 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.

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 18 November 2024 and were signed by:





Mrs J F Ablett - Designated member

BROOM DEVELOPMENTS LLP (REGISTERED NUMBER: OC420114)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1. STATUTORY INFORMATION

Broom Developments LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical accounting estimates. lt also requires management to exercise judgement in applying the company's accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In preparing the financial statements, the members are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 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.

FINANCIAL INSTRUMENTS
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties.

Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in profit or loss.

For financial assets measured at amortized cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BROOM DEVELOPMENTS LLP (REGISTERED NUMBER: OC420114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 March 2023
and 30 March 2024 22,842
DEPRECIATION
At 31 March 2023 10,681
Charge for year 3,040
At 30 March 2024 13,721
NET BOOK VALUE
At 30 March 2024 9,121
At 30 March 2023 12,161

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023
and 30 March 2024 2,221,147
NET BOOK VALUE
At 30 March 2024 2,221,147
At 30 March 2023 2,221,147

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2019 10,000
Valuation in 2020 125,000
Cost 2,086,147
2,221,147

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 10,353 -

BROOM DEVELOPMENTS LLP (REGISTERED NUMBER: OC420114)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,061 2,985
Accruals and deferred income 1,700 1,620
4,761 4,605

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 3,663 6,724

9. RESERVES
Revaluation
reserve
£   
At 31 March 2023
and 30 March 2024 135,000