REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
SPRING VALLEY DEVELOPMENTS LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
SPRING VALLEY DEVELOPMENTS LLP |
SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Profit and Loss Account | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
SPRING VALLEY DEVELOPMENTS LLP |
General Information |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
First Floor, Winston House |
349 Regents Park Road |
London |
N3 1DH |
SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147) |
Report of the Members |
FOR THE YEAR ENDED 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the period under review was that of property investment and management. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £53,277 (2023 - £2,498 profit). |
MEMBERS' INTERESTS |
Members' interest at the balance sheet date was £757,352 (2023: £748,075). |
ON BEHALF OF THE MEMBERS: |
SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147) |
Profit and Loss Account |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
£ | £ |
TURNOVER |
Administrative expenses |
48,742 | 2,498 |
Other operating income |
OPERATING PROFIT and |
PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147) |
Balance Sheet |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
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 |
757,352 |
748,075 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
757,352 |
748,075 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 6 | 757,352 | 748,075 |
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 |
SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Spring Valley Developments 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 |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in profit or loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the liability simultaneously. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with other unsecured debts. |