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REGISTERED NUMBER: OC423936 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 5 April 2024

for

Redchurch LLP

Redchurch LLP (Registered number: OC423936)

Contents of the Financial Statements
for the Year Ended 5 April 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Redchurch LLP

General Information
for the Year Ended 5 April 2024







DESIGNATED MEMBERS: S C Murphy
Ms J M Burda
Redchurch Real Estate Limited





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC423936 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Redchurch LLP (Registered number: OC423936)

Balance Sheet
5 April 2024

5.4.24 5.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,025 1,367
Investment property 5 1,360,000 1,360,000
1,361,025 1,361,367

CURRENT ASSETS
Debtors 6 657 647
Cash at bank 14,913 4,576
15,570 5,223
CREDITORS
Amounts falling due within one year 7 10,011 14,302
NET CURRENT ASSETS/(LIABILITIES) 5,559 (9,079 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,366,584

1,352,288

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

11,834

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,354,750 1,352,288
1,366,584 1,352,288

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 11,834 -
Members' other interests 1,354,750 1,352,288
1,366,584 1,352,288

Redchurch LLP (Registered number: OC423936)

Balance Sheet - continued
5 April 2024


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 5 April 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 18 January 2025 and were signed by:





S C Murphy - Designated member

Redchurch LLP (Registered number: OC423936)

Notes to the Financial Statements
for the Year Ended 5 April 2024


1. STATUTORY INFORMATION

Redchurch 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 as modified by the revaluation of certain assets.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

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

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover represents gross rents received net of value added tax. It represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method.

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

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Redchurch LLP (Registered number: OC423936)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Provision for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 6 April 2023
and 5 April 2024 4,200
DEPRECIATION
At 6 April 2023 2,833
Charge for year 342
At 5 April 2024 3,175
NET BOOK VALUE
At 5 April 2024 1,025
At 5 April 2023 1,367

Redchurch LLP (Registered number: OC423936)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2023
and 5 April 2024 1,360,000
NET BOOK VALUE
At 5 April 2024 1,360,000
At 5 April 2023 1,360,000

Investment property is disclosed at fair value as measured by either estate agents, mortgage valuers or where not available by the designated members.

Fair value at 5 April 2024 is represented by:
£   
Valuation in 2020 (25,978 )
Valuation in 2022 41,571
Cost 1,344,407
1,360,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Other debtors 657 647

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.24 5.4.23
£    £   
Bank loans and overdrafts - 788
Other creditors 10,011 13,514
10,011 14,302

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally to other creditors.

9. CONTINGENT LIABILITIES

There is a cross guarantee in place with Redchurch Real Estate Limited, whose bank loan balances total £994,498 (2023: £998,765).