IRIS Accounts Production v24.3.2.46 OC432690 designated member 1.8.23 31.3.24 31.3.24 0 0 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4326902023-07-31OC4326902024-03-31OC4326902023-08-012024-03-31OC4326902022-07-31OC4326902022-08-012023-07-31OC4326902023-07-31OC432690ns15:EnglandWales2023-08-012024-03-31OC432690ns14:PoundSterling2023-08-012024-03-31OC432690ns10:PartnerLLP12023-08-012024-03-31OC432690ns10:LimitedLiabilityPartnershipLLP2023-08-012024-03-31OC432690ns10:SmallEntities2023-08-012024-03-31OC432690ns10:AuditExempt-NoAccountantsReport2023-08-012024-03-31OC432690ns10:SmallCompaniesRegimeForAccounts2023-08-012024-03-31OC432690ns10:LimitedLiabilityPartnershipsSORP2023-08-012024-03-31OC432690ns10:FullAccounts2023-08-012024-03-31OC432690ns5:JointVenture12023-08-012024-03-31OC432690ns10:PartnerLLP22023-08-012024-03-31OC432690ns10:RegisteredOffice2023-08-012024-03-31OC432690ns5:CurrentFinancialInstruments2024-03-31OC432690ns5:CurrentFinancialInstruments2023-07-31OC432690ns5:CostValuation2023-07-31OC432690ns5:JointVenture112023-08-012024-03-31OC432690ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC432690ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: OC432690 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 AUGUST 2023 TO 31 MARCH 2024

FOR

NORTON POWER PARTNERSHIP LLP

NORTON POWER PARTNERSHIP LLP (REGISTERED NUMBER: OC432690)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


NORTON POWER PARTNERSHIP LLP

GENERAL INFORMATION
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024







DESIGNATED MEMBERS: A M Duguid
H R Hunter





REGISTERED OFFICE: Norton Place
Bishop Norton
Market Rasen
Lincolnshire
LN8 2AX





REGISTERED NUMBER: OC432690 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

NORTON POWER PARTNERSHIP LLP (REGISTERED NUMBER: OC432690)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 50 50

CURRENT ASSETS
Debtors 5 14,996 10,831

CREDITORS
Amounts falling due within one year 6 14,996 10,831
NET CURRENT LIABILITIES - -
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 50 50

LOANS AND OTHER DEBTS DUE TO MEMBERS - -

MEMBERS' OTHER INTERESTS
Capital accounts 50 50
50 50

TOTAL MEMBERS' INTERESTS
Members' other interests 50 50
Amounts due from members 5 (10,681 ) (9,481 )
(10,631 ) (9,431 )

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.

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 9 December 2024 and were signed by:





A M Duguid - Designated member

NORTON POWER PARTNERSHIP LLP (REGISTERED NUMBER: OC432690)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

1. STATUTORY INFORMATION

Norton Power Partnership 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.

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.

Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Entities in which the limited liability partnership has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS
Interest
in joint
venture
£   
COST
At 1 August 2023
and 31 March 2024 50
NET BOOK VALUE
At 31 March 2024 50
At 31 July 2023 50

NORTON POWER PARTNERSHIP LLP (REGISTERED NUMBER: OC432690)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 AUGUST 2023 TO 31 MARCH 2024

4. FIXED ASSET INVESTMENTS - continued

The LLP's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Hemswell Power Solutions Limited
Registered office: The Control Tower, Hemswell Cliff Industrial Estate, Hemswell Cliff, Gainsborough, Lincolnshire, UK, DN21 5TJ
Nature of business: Sale of electricity
%
Class of shares: holding
Ordinary 50.00

The limited liability partnership holds a 50% equity shareholding (and voting rights) in Hemswell Power
Solutions Limited, a joint venture. The investment is held at a carrying amount of £50.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 14,996 10,831

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 14,996 10,831

7. RELATED PARTY TRANSACTIONS

During the period Hemswell Estates Limited paid for transactions on behalf of Norton Power Partnership LLP
of £nil (2023: £8,126). The amount due outstanding to Hemswell Estates Limited at 31 March 2024 was
£12,201 (2023: £9,236). Mr A Duguid is a director and shareholder of Hemswell Estates Limited.
During the period Adam Duguid & Son received transactions on behalf of Norton Power Partnership LLP of £nil (2023: £1,350). The amount due from Adam Duguid & Son at 31 March 2024 was £nil (2023: £1,350). Mr A Duguid is the proprietor of Adam Duguid & Son.
The loans are interest free, have no fixed terms for repayment, and are repayable on demand.

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank
equally with unsecured creditors.