Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 28 March 2022 false 1 April 2023 31 March 2024 31 March 2024 OC441679 Ms Gohar Mohajer Shojaii Mr Ajdar Arya Nazemi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC441679 2023-03-31 OC441679 2024-03-31 OC441679 2023-04-01 2024-03-31 OC441679 frs-core:CurrentFinancialInstruments 2024-03-31 OC441679 frs-core:Non-currentFinancialInstruments 2024-03-31 OC441679 frs-core:FurnitureFittings 2024-03-31 OC441679 frs-core:FurnitureFittings 2023-04-01 2024-03-31 OC441679 frs-core:FurnitureFittings 2023-03-31 OC441679 frs-bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC441679 frs-bus:LimitedLiabilityPartnershipsSORP 2023-04-01 2024-03-31 OC441679 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 OC441679 frs-bus:SmallEntities 2023-04-01 2024-03-31 OC441679 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC441679 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC441679 frs-countries:EnglandWales 2023-04-01 2024-03-31 OC441679 frs-bus:PartnerLLP1 2023-04-01 2024-03-31 OC441679 frs-bus:PartnerLLP2 2023-04-01 2024-03-31 OC441679 2022-03-27 OC441679 2023-03-31 OC441679 2022-03-28 2023-03-31 OC441679 frs-core:CurrentFinancialInstruments 2023-03-31 OC441679 frs-core:Non-currentFinancialInstruments 2023-03-31
Registered number: OC441679
Nazeing Properties LLP
Unaudited Financial Statements
For The Year Ended 31 March 2024
DRP Partners Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC441679
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 862 -
Investment Properties 5 6,000,000 6,000,000
6,000,862 6,000,000
CURRENT ASSETS
Cash at bank and in hand 201,174 340,469
201,174 340,469
Creditors: Amounts Falling Due Within One Year 6 (12,350 ) (7,011 )
NET CURRENT ASSETS (LIABILITIES) 188,824 333,458
TOTAL ASSETS LESS CURRENT LIABILITIES 6,189,686 6,333,458
Creditors: Amounts Falling Due After More Than One Year 7 (641,395 ) (662,504 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 5,548,291 5,670,954
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 5,548,291 5,670,954
5,548,291 5,670,954
5,548,291 5,670,954
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 5,548,291 5,670,954
5,548,291 5,670,954
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 Gohar Mohajer Shojaii
Designated Member
20/01/2025
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
Nazeing Properties LLP is a limited liability partnership, incorporated in England & Wales, registered number OC441679 . The Registered Office is 12 Pecks Hill, Nazeing, EN9 2NY.
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 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2023 -
Additions 1,199
As at 31 March 2024 1,199
Depreciation
As at 1 April 2023 -
Provided during the period 337
As at 31 March 2024 337
Net Book Value
As at 31 March 2024 862
As at 1 April 2023 -
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 6,000,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost - 6,000,000
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,338 (1 )
Other creditors 7,012 7,012
12,350 7,011
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 641,395 662,504
8. Secured Creditors
Of the creditors the following amounts are secured.
The bank loans are secured by way of fixed and floating charge on property and other assets of the Partnership and contains a negative pledge.
2024 2023
£ £
Bank loans and overdrafts - 662,504
Page 4