REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
CONNOR DEVELOPMENTS (UK) LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
CONNOR DEVELOPMENTS (UK) LLP |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
CONNOR DEVELOPMENTS (UK) LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Business Advisers |
28 Wilton Road |
Bexhill on Sea |
East Sussex |
TN40 1EZ |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 MARCH 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property development. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £106,199 (2023 - £708,954 loss). |
MEMBERS' INTERESTS |
The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members' capital are disclosed in the accounting policies, note 1 of the financial statements. |
The members' interests are disclosed in the notes to the financial statements. |
ON BEHALF OF THE MEMBERS: |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT/(LOSS) | ( |
) |
Administrative expenses | ( |
) | ( |
) |
(105,176 | ) | (706,549 | ) |
Other operating income |
OPERATING LOSS | 4 | ( |
) | ( |
) |
Interest payable and similar expenses | ( |
) | ( |
) |
LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
( |
) |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
7,742,782 |
8,060,793 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 8,557,935 | 8,769,747 |
Other reserves | ( |
) | ( |
) |
7,742,782 | 8,060,793 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 7,742,782 | 8,060,793 |
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. |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Connor Developments (UK) 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 |
The members have made an assessment and do not consider there to be any material uncertainties about the ability of the business to continue as a going concern. As a result they have adopted the going concern basis of accounting. |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when the company receives the right to consideration. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost includes all direct expenditure. Net realisable value is based on the members assessment of the development work carried out. |
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. |
Capital subscription and repayment |
The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. Interest is paid on capital at a market rate on the balance outstanding at the year end at the discretion of the members. |
Allocation of profits and drawings |
The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members. |
During the year members draw sums as agreed by the Designated Members, taking into account the partnership's cash requirements for operating and investing activities. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
4. | OPERATING LOSS |
The operating loss is stated after charging: |
31.3.24 | 31.3.23 |
£ | £ |
Depreciation - owned assets |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Hire purchase contracts |
9. | RELATED PARTY DISCLOSURES |
Silvero Investments Ltd is a member of the LLP. Mr and Mrs Connor who are also members of the LLP are the Directors and shareholders of Silvero Investments Ltd. |