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REGISTERED NUMBER: OC422440 (England and Wales)










Financial Statements

for the Year Ended 31 March 2024

for

D11.02 NOVA 2018 LLP

D11.02 NOVA 2018 LLP (REGISTERED NUMBER: OC422440)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


D11.02 NOVA 2018 LLP

General Information
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: T Abdulsalam
M Abdulsalam
K Abdulsalam
Ms M Abdulsalam
Mrs T Bouresli





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: OC422440 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

D11.02 NOVA 2018 LLP (REGISTERED NUMBER: OC422440)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investment property 5 2,150,000 2,771,615
2,150,000 2,771,615

CURRENT ASSETS
Debtors 6 11,119 37,020
Cash at bank and in hand 239,652 37,373
250,771 74,393
CREDITORS
Amounts falling due within one year 7 76,682 71,746
NET CURRENT ASSETS 174,089 2,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,324,089

2,774,262

CREDITORS
Amounts falling due after more than one year 8 2,731,250 2,731,250
NET (LIABILITIES)/ASSETS ATTRIBUTABLE
TO MEMBERS

(407,161

)

43,012

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

553,373

299,887

MEMBERS' OTHER INTERESTS
Other reserves (960,534 ) (256,875 )
(407,161 ) 43,012

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 553,373 299,887
Members' other interests (960,534 ) (256,875 )
(407,161 ) 43,012

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.

D11.02 NOVA 2018 LLP (REGISTERED NUMBER: OC422440)

Balance Sheet - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 December 2024 and were signed by:





T Abdulsalam - Designated member

D11.02 NOVA 2018 LLP (REGISTERED NUMBER: OC422440)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

D11.02 Nova 2018 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

the estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue consist of rent received or receivable excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Property, plant and equipment is stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Fixtures fittings and equipment 25% on cost

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

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
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, whether transaction is measured at the present value of the future receipts discounted at a market rate of interest Financial assets classified as receivable within one year are not amortised.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 5 (2023 - 5 ) .

D11.02 NOVA 2018 LLP (REGISTERED NUMBER: OC422440)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 10,490
DEPRECIATION
At 1 April 2023
and 31 March 2024 10,490
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,771,615
Impairments (621,615 )
At 31 March 2024 2,150,000
NET BOOK VALUE
At 31 March 2024 2,150,000
At 31 March 2023 2,771,615

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,376 34,794
Prepayments 3,743 2,226
11,119 37,020

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 8,122 -
Accrued expenses 68,560 71,746
76,682 71,746

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 2,731,250 2,731,250

D11.02 NOVA 2018 LLP (REGISTERED NUMBER: OC422440)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,731,250 2,731,250

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,731,250 2,731,250

Bank loans are secured by way of a fixed charge over the investment property of the LLP.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

As at the year end, LLP owed to one of the designated member of £553,373 (2023:£299,887).