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REGISTERED NUMBER: OC414993 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DESIGNATED MEMBERS: Ms H McMurray
M J Blay
Mrs A L Friend
G L McMurray





REGISTERED OFFICE: The Willows Somerswey
Shalford
Guildford
Surrey
GU4 8EQ





REGISTERED NUMBER: OC414993 (England and Wales)





ACCOUNTANTS: Numera Partners LLP
4th Floor
Charles House
108-110 Finchley Road
London
NW3 5JJ

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161 215
Investment property 5 134,995 329,255
135,156 329,470

CURRENT ASSETS
Debtors 6 108,700 32,000
Cash at bank 1,911 1,592
110,611 33,592
CREDITORS
Amounts falling due within one year 7 1,800 7,993
NET CURRENT ASSETS 108,811 25,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

243,967

355,069

CREDITORS
Amounts falling due after more than one year 8 - 160,513
NET ASSETS ATTRIBUTABLE TO
MEMBERS

243,967

194,556

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

243,967

194,556

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 243,967 194,556

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 December 2023.

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.

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)

BALANCE SHEET - continued
31 DECEMBER 2023


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 2 October 2024 and were signed by:





Ms H McMurray - Designated member

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Crestfield Properties (35A Farncombe) 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 (£) and rounded to the nearest £.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is derived from the day to day ordinary activities of the company and is show gross of value
added tax.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore continues to adopt the going concern policy in preparing its financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilites 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 revisions affects both current and future periods.

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

Computer equipment - 25% on reducing balance

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.

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 'basic financial instruments' and section 12 'other financial instruments issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions of the instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial instruments
Basic financial instruments, which include debtors and 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, where the 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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairments at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in the profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are recognised only when the contractual rights to the cashflows form the asset expire of are settled, or when the company transfers the financial assets and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 current liabilities.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt , are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 679
DEPRECIATION
At 1 January 2023 464
Charge for year 54
At 31 December 2023 518
NET BOOK VALUE
At 31 December 2023 161
At 31 December 2022 215

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 329,255
Disposals (194,260 )
At 31 December 2023 134,995
NET BOOK VALUE
At 31 December 2023 134,995
At 31 December 2022 329,255

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 74,553
Valuation in 2019 787
Valuation in 2020 (1,435 )
Cost 61,090
134,995

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 61,090 149,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 108,700 32,000

CRESTFIELD PROPERTIES (35A FARNCOMBE)
LLP (REGISTERED NUMBER: OC414993)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts - 7,495
Other creditors 1,800 498
1,800 7,993

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 160,513

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 119,762

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.