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REGISTERED NUMBER: OC446199 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024

FOR

HOLNESS & PARTNER LLP

HOLNESS & PARTNER LLP (REGISTERED NUMBER: OC446199)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOLNESS & PARTNER LLP

GENERAL INFORMATION
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: Mr C P Clacken
Ms D M Holness





REGISTERED OFFICE: 50 Woodgate
Leicester
United Kingdom
Leicestershire
LE3 5GF





REGISTERED NUMBER: OC446199 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

HOLNESS & PARTNER LLP (REGISTERED NUMBER: OC446199)

BALANCE SHEET
31 MARCH 2024

Notes £    £   
FIXED ASSETS
Investment property 4 5,070,000

CURRENT ASSETS
Debtors 5 2,630
Cash at bank 5,105
7,735
CREDITORS
Amounts falling due within one year 6 2,380
NET CURRENT ASSETS 5,355
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,075,355

CREDITORS
Amounts falling due after more than one
year

7

4,206,581
NET ASSETS ATTRIBUTABLE TO
MEMBERS

868,774

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

868,774

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 868,774
Amounts due from members 5 (1,900 )
866,874

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 period 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.

HOLNESS & PARTNER LLP (REGISTERED NUMBER: OC446199)

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 7 January 2025 and were signed by:





Mr C P Clacken - Designated member

HOLNESS & PARTNER LLP (REGISTERED NUMBER: OC446199)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Holness & Partner 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 5,070,000
At 31 March 2024 5,070,000
NET BOOK VALUE
At 31 March 2024 5,070,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 2,630

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 2,380

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Mortgages 4,206,581

HOLNESS & PARTNER LLP (REGISTERED NUMBER: OC446199)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 8 MARCH 2023 TO 31 MARCH 2024

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

Repayable by instalments
Bank loans more 5 yr by instal 4,206,581

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Mortgages 4,206,581

The mortgages are secured by a fixed and floating charge over the undertakings and all property and assets of the limited liability partnership.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
£   
Amounts owed to members in respect of profits 868,774

Falling due within one year 868,774

Unsecured debt due to members ranks equally with debts due to other unsecured creditors in a winding up of the LLP.

There are no restrictions on the ability of the members to reduce the amount of Members' Other Interests.

10. RELATED PARTY DISCLOSURES

At the balance sheet date Holness & Partner LLP owed £870,674 to a designated member, in a personal capacity.