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REGISTERED NUMBER: OC396147 (England and Wales)




















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: D Toledano
Greshfield Ltd





REGISTERED OFFICE: 64 Ballards Lane
London
N3 2BU





REGISTERED NUMBER: OC396147 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
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:

D Toledano
Greshfield Ltd

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:





Greshfield Ltd - Designated member


2 December 2024

SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147)

Profit and Loss Account
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£    £   

TURNOVER 49,894 15,000

Administrative expenses 1,152 12,502
48,742 2,498

Other operating income 4,535 -
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




53,277




2,498

SPRING VALLEY DEVELOPMENTS LLP (REGISTERED NUMBER: OC396147)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 718,173 718,173

CURRENT ASSETS
Cash at bank 51,329 42,052

CREDITORS
Amounts falling due within one year 5 12,150 12,150
NET CURRENT ASSETS 39,179 29,902
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 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 31 March 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.

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 2 December 2024 and were signed by:





Greshfield Ltd - Designated member

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
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
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 718,173
NET BOOK VALUE
At 31 March 2024 718,173
At 31 March 2023 718,173

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 12,150 12,150

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with other unsecured debts.