REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
CO. DURHAM LAND LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
CO. DURHAM LAND LLP |
CO. DURHAM LAND LLP (REGISTERED NUMBER: OC421104) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
CO. DURHAM LAND LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Spitfire House |
19 Falcon Court |
Preston Farm Industrial Estate |
Stockton-on-Tees |
TS18 3TU |
CO. DURHAM LAND LLP (REGISTERED NUMBER: OC421104) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
The members present their report with the financial statements of the LLP for the year ended 29 February 2024. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
Mrs. V.P.G. Allan ceased to be a member of the LLP with effect from 6 September 2023. |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £3,224 (2023 - £3,120 loss). |
MEMBERS' INTERESTS |
Under the terms of the LLP Agreement, the Professional Member (as defined therein) agrees to contribute such capital as is required by the LLP and to ensure that the LLP has sufficient funds to discharge its liabilities as they fall due. |
ON BEHALF OF THE MEMBERS: |
CO. DURHAM LAND LLP (REGISTERED NUMBER: OC421104) |
INCOME STATEMENT |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
2024 | 2023 |
£ | £ |
TURNOVER |
Administrative expenses |
OPERATING LOSS and |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
CO. DURHAM LAND LLP (REGISTERED NUMBER: OC421104) |
BALANCE SHEET |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Development work in progress |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
4,000 |
4,000 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
4,000 |
4,000 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 4,000 | 4,000 |
Amounts due from members | 4 | (5,344 | ) | (2,120 | ) |
(1,344 | ) | 1,880 |
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 were approved by the members of the LLP and authorised for issue on |
CO. DURHAM LAND LLP (REGISTERED NUMBER: OC421104) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
Co. Durham Land 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 |
Development work in progress |
Development work in progress is stated at the lower of cost and estimated net realisable value. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Included in other debtors above is a total of £5,344 due from one member, Theakston Estates (Properties) Limited (2023: £2,120). |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari-passu with other creditors who are unsecured save to the extent that such other creditors have protection which is legally enforceable and cannot be revoked solely by a decision of the members. |
7. | RELATED PARTY DISCLOSURES |
At 29 February 2024 £2,805,929 (2023: £2,452,416) was owed to a related party. |
8. | OTHER INFORMATION |
At the balance sheet date the LLP held Options over various parcels of land in the Westpark/Sniperley area of County Durham. |