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CROWNCOAST PROPERTIES LLP

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024






CROWNCOAST PROPERTIES LLP (REGISTERED NUMBER: OC390934)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

General Information 1

Report of the Members 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


CROWNCOAST PROPERTIES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DESIGNATED MEMBERS: Mr P J Leuzzi
Mr S H Simons





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: OC390934 (England and Wales)





ACCOUNTANTS: Kounnis And Partners Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

CROWNCOAST PROPERTIES LLP (REGISTERED NUMBER: OC390934)

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.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property investment and development.

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

Mr P J Leuzzi
Mr S H Simons

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £312 (2023 - £20 profit).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amount of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

ON BEHALF OF THE MEMBERS:





Mr S H Simons - Designated member


27 November 2024

CROWNCOAST PROPERTIES LLP

REPORT OF THE ACCOUNTANTS TO THE MEMBERS OF
CROWNCOAST PROPERTIES LLP



As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages four to seven and you consider that the LLP is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Kounnis And Partners Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE


27 November 2024

CROWNCOAST PROPERTIES LLP (REGISTERED NUMBER: OC390934)

INCOME STATEMENT
FOR THE YEAR ENDED 29 FEBRUARY 2024

29.2.24 28.2.23
£    £   

REVENUE 1,500 2,000

Administrative expenses (656 ) (787 )
OPERATING PROFIT 844 1,213


Interest payable and similar expenses (1,156 ) (1,193 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS





(312





)





20

CROWNCOAST PROPERTIES LLP (REGISTERED NUMBER: OC390934)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
CURRENT ASSETS
Debtors 4 47,170 47,324
Cash at bank 13 87
47,183 47,411
CREDITORS
Amounts falling due within one year 5 (7,016 ) (7,146 )
NET CURRENT ASSETS 40,167 40,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

40,167

40,265

CREDITORS
Amounts falling due after more than one
year

6

(40,167

)

(40,164

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

-

101

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

101

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members - 101
Amounts due from members 4 (211 ) -
(211 ) 101

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 29 February 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.

CROWNCOAST PROPERTIES LLP (REGISTERED NUMBER: OC390934)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 27 November 2024 and were signed by:





Mr S H Simons - Designated member

CROWNCOAST PROPERTIES LLP (REGISTERED NUMBER: OC390934)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Crowncoast Properties 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - 2 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 47,170 47,324

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 5,956 5,956
Trade creditors - 710
Other creditors 1,060 480
7,016 7,146

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 40,167 40,164

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 16,343 16,340