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REGISTERED NUMBER: OC342909 (England and Wales)















Unaudited Financial Statements

for the Period 1 April 2023 to 30 March 2024

for

Penenden Heath Investments LLP

Penenden Heath Investments LLP (Registered number: OC342909)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Penenden Heath Investments LLP

General Information
for the Period 1 April 2023 to 30 March 2024







DESIGNATED MEMBERS: R L Wright
A D Thorogood





REGISTERED OFFICE: Harmile House
54 St Marys Lane
Upminster
Essex
RM14 2QP





REGISTERED NUMBER: OC342909 (England and Wales)

Penenden Heath Investments LLP (Registered number: OC342909)

Balance Sheet
30 March 2024

30.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,458 3,343
Investment property 5 4,640,335 4,260,600
4,659,793 4,263,943

CURRENT ASSETS
Debtors 6 38,870 41,715
Cash at bank and in hand 67,431 85,826
106,301 127,541
CREDITORS
Amounts falling due within one year 7 853,394 866,598
NET CURRENT LIABILITIES (747,093 ) (739,057 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,912,700

3,524,886

CREDITORS
Amounts falling due after more than one
year

8

23,362

24,946
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,889,338

3,499,940

Penenden Heath Investments LLP (Registered number: OC342909)

Balance Sheet - continued
30 March 2024

30.3.24 31.3.23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

3,046,435

3,104,642

MEMBERS' OTHER INTERESTS
Revaluation reserve 11 288,947 288,947
Other reserves 553,956 106,351
3,889,338 3,499,940

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 3,046,435 3,104,642
Members' other interests 842,903 395,298
Amounts due from members 6 (15,806 ) -
3,873,532 3,499,940

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 30 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 23 January 2025 and were signed by:





A D Thorogood - Designated member

Penenden Heath Investments LLP (Registered number: OC342909)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 March 2024

1. STATUTORY INFORMATION

Penenden Heath Investments 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.

TURNOVER
Turnover represents sales of properties from the company's trading stock together with rents receivable.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

No depreciation has been charged on the company's freehold property as the members consider that the economic life of the property and it's residual value, excluding inflation, is such that depreciation is not significant. The residual value of property is regularly reviewed to identify any impairment.

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.

FINANCIAL INSTRUMENTS
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Cash and cash equivalents
These comprise cash at bank and any short term highly liquid bank deposits with an original maturity of three month or less.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is evidence that the asset is impaired.

Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Penenden Heath Investments LLP (Registered number: OC342909)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 95,169
Additions 22,000
At 30 March 2024 117,169
DEPRECIATION
At 1 April 2023 91,826
Charge for period 5,885
At 30 March 2024 97,711
NET BOOK VALUE
At 30 March 2024 19,458
At 31 March 2023 3,343

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 22,000
At 30 March 2024 22,000
DEPRECIATION
Charge for period 5,049
At 30 March 2024 5,049
NET BOOK VALUE
At 30 March 2024 16,951

Penenden Heath Investments LLP (Registered number: OC342909)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,274,134
Additions 489,467
Disposals (108,877 )
At 30 March 2024 4,654,724
DEPRECIATION
At 1 April 2023 13,534
Charge for period 855
At 30 March 2024 14,389
NET BOOK VALUE
At 30 March 2024 4,640,335
At 31 March 2023 4,260,600

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2020 288,947
Cost 4,365,777
4,654,724

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Trade debtors 20,100 13,349
Other debtors 18,770 28,366
38,870 41,715

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,140 9,890
Hire purchase contracts 7,333 -
Trade creditors 401,048 440,530
Taxation and social security 123,160 81,424
Other creditors 311,713 334,754
853,394 866,598

Penenden Heath Investments LLP (Registered number: OC342909)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.24 31.3.23
£    £   
Bank loans 14,806 24,946
Hire purchase contracts 8,556 -
23,362 24,946

9. SECURED DEBTS

The following secured debts are included within creditors:

30.3.24 31.3.23
£    £   
Hire purchase contracts 15,889 -

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Debts due to members rank equally with other creditors in the event of a winding up.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 30 March 2024 288,947