Acorah Software Products - Accounts Production 15.0.600 false true false 7 September 2023 5 April 2024 5 April 2024 OC449006 Agnieszka Gosiewska Marc Hoang Nguyen iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC449006 2023-09-06 OC449006 2024-04-05 OC449006 2023-09-07 2024-04-05 OC449006 frs-core:CurrentFinancialInstruments 2024-04-05 OC449006 frs-core:Non-currentFinancialInstruments 2024-04-05 OC449006 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-05 OC449006 frs-core:InvestmentPropertyIncludedWithinPPE 2023-09-06 OC449006 frs-bus:LimitedLiabilityPartnershipLLP 2023-09-07 2024-04-05 OC449006 frs-bus:LimitedLiabilityPartnershipsSORP 2023-09-07 2024-04-05 OC449006 frs-bus:FilletedAccounts 2023-09-07 2024-04-05 OC449006 frs-bus:SmallEntities 2023-09-07 2024-04-05 OC449006 frs-bus:AuditExempt-NoAccountantsReport 2023-09-07 2024-04-05 OC449006 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-07 2024-04-05 OC449006 frs-countries:EnglandWales 2023-09-07 2024-04-05 OC449006 frs-bus:PartnerLLP1 2023-09-07 2024-04-05 OC449006 frs-bus:PartnerLLP2 2023-09-07 2024-04-05
Registered number: OC449006
Magnares Homes LLP
Unaudited Financial Statements
For the Period 7 September 2023 to 5 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC449006
5 April 2024
Notes £ £
FIXED ASSETS
Tangible Assets 3 740,176
740,176
CURRENT ASSETS
Cash at bank and in hand 6
6
Creditors: Amounts Falling Due Within One Year 4 (5,884 )
NET CURRENT ASSETS (LIABILITIES) (5,878 )
TOTAL ASSETS LESS CURRENT LIABILITIES 734,298
Creditors: Amounts Falling Due After More Than One Year 5 (441,924 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 292,374
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 13,474
13,474
Equity
Members' other interests
Members' capital 278,900
278,900
292,374
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 13,474
Members' other interests 278,900
292,374
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Page 2
For the period 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
Agnieszka Gosiewska
Designated Member
3 July 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. Accounting Policies
1.1. 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.
1.2. 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.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
1.4. 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.
2. Average Number of Employees
Average number of employees, including members, during the year was as follows: 2
2
3. Tangible Assets
Investment Properties
£
Cost
As at 7 September 2023 -
Additions 740,176
As at 5 April 2024 740,176
Net Book Value
As at 5 April 2024 740,176
As at 7 September 2023 -
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4. Creditors: Amounts Falling Due Within One Year
5 April 2024
£
Other creditors 4,732
Accruals and deferred income 1,152
5,884
5. Creditors: Amounts Falling Due After More Than One Year
5 April 2024
£
Bank loans 441,924
441,924
6. Secured Creditors
Of the creditors the following amounts are secured:
5 April 2024
£
Bank loans and overdrafts 441,924
7. Related Party Transactions
Included in creditors falling due within one year is an amount of £4,732 owed to the partners. The amount is interest free and repayable on demand.
8. General Information
Magnares Homes LLP is a limited liability partnership, incorporated in England & Wales, registered number OC449006 . The Registered Office is 191 Montrose Avenue, Welling , DA16 2QT.
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