Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 OC310519 Mr Robert Walsh Mrs Jane Walsh true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC310519 2023-03-31 OC310519 2024-03-31 OC310519 2023-04-01 2024-03-31 OC310519 frs-core:CurrentFinancialInstruments 2024-03-31 OC310519 frs-core:Non-currentFinancialInstruments 2024-03-31 OC310519 frs-core:FurnitureFittings 2024-03-31 OC310519 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC310519 frs-core:FurnitureFittings 2023-03-31 OC310519 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC310519 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC310519 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC310519 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC310519 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC310519 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC310519 1 2023-04-01 2024-03-31 OC310519 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC310519 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC310519 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC310519 2022-03-31 OC310519 2023-03-31 OC310519 2022-04-01 2023-03-31 OC310519 frs-core:CurrentFinancialInstruments 2023-03-31 OC310519 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC310519
Chesford Grange Estates LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC310519
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,274 4,103
Investment Properties 5 8,500,000 8,500,000
8,501,274 8,504,103
CURRENT ASSETS
Debtors 6 64,249 71,250
64,249 71,250
Creditors: Amounts Falling Due Within One Year 7 (2,321,386 ) (794,555 )
NET CURRENT ASSETS (LIABILITIES) (2,257,137 ) (723,305 )
TOTAL ASSETS LESS CURRENT LIABILITIES 6,244,137 7,780,798
Creditors: Amounts Falling Due After More Than One Year 8 - (1,621,667 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 6,244,137 6,159,131
REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability 60 60
Other amounts 467,895 382,889
467,955 382,949
Equity
Members' other interests
Other reserves 5,776,182 5,776,182
5,776,182 5,776,182
6,244,137 6,159,131
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 467,955 382,949
Members' other interests 5,776,182 5,776,182
6,244,137 6,159,131
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
Mr Robert Walsh
Designated Member
17th January 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Chesford Grange Estates LLP is a limited liability partnership, incorporated in England & Wales, registered number OC310519 . The Registered Office is 18 Chesford Grange, Warrington, WA1 4RQ.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Fixtures & Fittings 4 years straight line
2.4. Investment Properties
Investment property is carried at fair value determined by JLL as at 31 January 2022 in accordance with RICS valuation Global Standards 2017 and based on estimated market value with reference to current market rents and investment property yields for comparable real estate. Changes in fair value are recognised in the Statement of comprehensive income. Changes in investment property valuations are available for discretionary division amongst members.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 149,769
As at 31 March 2024 149,769
Depreciation
As at 1 April 2023 145,666
Provided during the period 2,829
As at 31 March 2024 148,495
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 1,274
As at 1 April 2023 4,103
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 8,500,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,583 17,639
Other debtors 52,666 53,611
64,249 71,250
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,384 21,405
Bank loans and overdrafts 2,216,601 704,624
Other creditors 50,208 36,613
Taxation and social security 35,193 31,913
2,321,386 794,555
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 1,621,667
9. Related Party Transactions
During the year the LLP charged rent of £291,000 (2023: £291,000) and utility recharges of £42,693 (2023 £49,150) to Edwards Cheshire Company Limited, a member of the LLP.
10. Ultimate Controlling Party
The LLP's ultimate controlling party is Mr R E Walsh and Mrs J Walsh.
Page 4