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REGISTERED NUMBER: OC363525 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THORPE GRANGE LLP

THORPE GRANGE LLP (REGISTERED NUMBER: OC363525)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THORPE GRANGE LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: J A Kirby
J S Jones





REGISTERED OFFICE: 11 Sadler Court
Stirlin Point
Lincoln
Lincolnshire
LN6 3RG





REGISTERED NUMBER: OC363525 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

THORPE GRANGE LLP (REGISTERED NUMBER: OC363525)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 609,463 609,463

CURRENT ASSETS
Debtors 5 - 900
Cash at bank 1,947 2,086
1,947 2,986
CREDITORS
Amounts falling due within one year 6 28,773 28,597
NET CURRENT LIABILITIES (26,826 ) (25,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES 582,637 583,852

CREDITORS
Amounts falling due after more than one year 7 23,985 36,497
NET ASSETS ATTRIBUTABLE TO MEMBERS 558,652 547,355

LOANS AND OTHER DEBTS DUE TO MEMBERS 9 558,652 547,355

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 558,652 547,355

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 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 1 November 2024 and were signed by:




J A Kirby - Designated member



J S Jones - Designated member


THORPE GRANGE LLP (REGISTERED NUMBER: OC363525)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Thorpe Grange 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.

Turnover
Rental income is recognised over the period to which it relates. Rent paid in advance and bond payments are deferred over the relevant period.

Tangible fixed assets
Freehold property is stated at cost. No depreciation is charged on freehold property as it consists of land.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 609,463
NET BOOK VALUE
At 31 March 2024 609,463
At 31 March 2023 609,463

Included in cost of land and buildings is freehold land of £ 609,463 (2023 - £ 609,463 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 900

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,470 13,293
Other creditors 12,598 12,598
Accruals and deferred income 2,705 2,706
28,773 28,597

THORPE GRANGE LLP (REGISTERED NUMBER: OC363525)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 14,746 13,649
Bank loans - 2-5 years 9,239 22,848
23,985 36,497

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 37,455 49,790

Bank debt is secured by a fixed charge over the land and assets at Thorpe Grange, Newark Road, South Hykeham, Lincoln.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

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