Acorah Software Products - Accounts Production 16.1.200 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC328323 Ms Asmita Minesh Brahmbhatt Mr Vikash Minesh Brahmbhatt iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC328323 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2024-03-31 OC328323 2023-03-31 OC328323 2024-03-31 OC328323 2023-04-01 2024-03-31 OC328323 frs-core:CurrentFinancialInstruments 2024-03-31 OC328323 frs-core:Non-currentFinancialInstruments 2024-03-31 OC328323 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 OC328323 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC328323 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 OC328323 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC328323 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC328323 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC328323 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC328323 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC328323 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC328323 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC328323 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC328323 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC328323 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-03-31 OC328323 2022-03-31 OC328323 2023-03-31 OC328323 2022-04-01 2023-03-31 OC328323 frs-core:CurrentFinancialInstruments 2023-03-31 OC328323 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC328323
VVB Estates LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC328323
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 714,045 721,245
714,045 721,245
CURRENT ASSETS
Debtors 6 471,390 455,000
Cash at bank and in hand 5,114 12,429
476,504 467,429
Creditors: Amounts Falling Due Within One Year 7 (242,767 ) (240,893 )
NET CURRENT ASSETS (LIABILITIES) 233,737 226,536
TOTAL ASSETS LESS CURRENT LIABILITIES 947,782 947,781
Creditors: Amounts Falling Due After More Than One Year 8 (566,353 ) (566,353 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 381,429 381,428
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability (214,055) (214,056)
(214,055) (214,056)
Equity
Members' other interests
Revaluation reserve 595,484 595,484
595,484 595,484
381,429 381,428
TOTAL MEMBERS' INTEREST
Amounts due from members (58,136) (23,776)
Loans and other debts due to members (214,055) (214,056)
Members' other interests 595,484 595,484
323,293 357,652
Page 1
Page 2
For the year ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Ms Asmita Minesh Brahmbhatt
Designated Member
10 December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
VVB Estates LLP is a limited liability partnership, incorporated in England & Wales, registered number OC328323 . The Registered Office is Unit 4 Eclipse Industrial Estate, 20 Sandown Road, Watford, Hertfordshire, WD24 7AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on Cost
2.4. Members Participating Interests
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.
All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.
Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.
2.5. Impairement of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the
asset belongs.
Page 3
Page 4
2.6. Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is
more representative of the time pattern in which economic benefits from the leased asset are consumed
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
4. Members' Remuneration
2024 2023
Average number of members during the year 2 2
5. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 900,000
As at 31 March 2024 900,000
Depreciation
As at 1 April 2023 178,755
Provided during the period 7,200
As at 31 March 2024 185,955
Net Book Value
As at 31 March 2024 714,045
As at 1 April 2023 721,245
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 17,455
Amounts owed by group undertakings 406,638 406,638
Other debtors 64,752 30,907
471,390 455,000
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,149 25,840
Amounts owed to group undertakings 120,501 111,936
Other creditors 104,117 103,117
242,767 240,893
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 566,353 566,353
9. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due between one and five years:
Other loans 566,353 566,353
Page 5