Silverfin false 31/03/2024 01/05/2023 31/03/2024 L M Crabb 06/11/2009 R N G Crabb 06/11/2009 O Workman 01/05/2019 25 November 2024 OC349884 2024-03-31 OC349884 bus:Director1 2024-03-31 OC349884 bus:Director2 2024-03-31 OC349884 bus:Director3 2024-03-31 OC349884 core:CurrentFinancialInstruments 2024-03-31 OC349884 core:CurrentFinancialInstruments 2023-04-30 OC349884 2023-04-30 OC349884 core:FurnitureFittings 2023-04-30 OC349884 core:FurnitureFittings 2024-03-31 OC349884 2023-05-01 2024-03-31 OC349884 bus:FullAccounts 2023-05-01 2024-03-31 OC349884 bus:SmallEntities 2023-05-01 2024-03-31 OC349884 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 OC349884 bus:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 OC349884 bus:Director1 2023-05-01 2024-03-31 OC349884 bus:Director2 2023-05-01 2024-03-31 OC349884 bus:Director3 2023-05-01 2024-03-31 OC349884 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-03-31 OC349884 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: OC349884 (England and Wales)

THREE HILLS PROPERTY LLP

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

THREE HILLS PROPERTY LLP

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

THREE HILLS PROPERTY LLP

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
THREE HILLS PROPERTY LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Current assets
Debtors 4 76,962 52,597
Cash at bank and in hand 88,295 178,882
165,257 231,479
Creditors: amounts falling due within one year 5 ( 23,559) ( 36,485)
Net current assets 141,698 194,994
Total assets less current liabilities 141,698 194,994
Net assets attributable to members 141,698 194,994
Represented by
Loans and other debts due to members within one year
Other amounts 141,698 194,994
141,698 194,994
Members' other interests
0 0
141,698 194,994
Total members' interests
Amounts due from members (included in debtors) (25,587) (29,068)
Loans and other debts due to members 7 141,698 194,994
116,111 165,926

For the financial period ending 31 March 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.

Members' responsibilities:

Three Hills Property LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Three Hills Property LLP (registered number: OC349884) were approved and authorised for issue by the Board of Directors on 25 November 2024. They were signed on its behalf by:

L M Crabb
Designated member
THREE HILLS PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
THREE HILLS PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Three Hills Property LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Trustrams Mead, Duntisbourne Leer, Cirencester, GL7 7AS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The reporting period length is shorter than 12 months as the LLP changed its accounting year end date due to the change in basis periods for taxation. These financial statements cover the 11 month period to 31 March 2024 and therefore comparative information is not entirely comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 3 years straight line
Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the LLP during the period 0 0

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 May 2023 7,461 7,461
At 31 March 2024 7,461 7,461
Accumulated depreciation
At 01 May 2023 7,461 7,461
At 31 March 2024 7,461 7,461
Net book value
At 31 March 2024 0 0
At 30 April 2023 0 0

4. Debtors

31.03.2024 30.04.2023
£ £
Trade debtors 47,576 19,208
Amounts owed by members 25,587 29,068
Prepayments 3,799 4,321
76,962 52,597

5. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Accruals 6,678 3,830
Other taxation and social security 9,190 32,580
Payments received on account 7,691 75
23,559 36,485

6. Financial commitments

Commitments

31.03.2024 30.04.2023
£ £
Total future minimum lease payments under non-cancellable operating lease 14,438 22,000

7. Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.