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REGISTERED NUMBER: OC328130 (England and Wales)















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: D C Connor
L Connor
Silvero Investments Limited





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: OC328130 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
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:

D C Connor
L Connor
Silvero Investments Limited

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:





L Connor - Designated member


31 January 2025

CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 2,100,720 116,475

Cost of sales (2,051,166 ) (689,000 )
GROSS PROFIT/(LOSS) 49,554 (572,525 )

Administrative expenses (154,730 ) (134,024 )
(105,176 ) (706,549 )

Other operating income 51 -
OPERATING LOSS 4 (105,125 ) (706,549 )


Interest payable and similar expenses (1,074 ) (2,405 )
LOSS FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(106,199




)




(708,954




)

CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 135,423 161,277

CURRENT ASSETS
Stocks 2,274,136 2,451,560
Debtors 6 5,421,284 5,383,742
Cash at bank 93,215 288,123
7,788,635 8,123,425
CREDITORS
Amounts falling due within one year 7 157,674 223,909
NET CURRENT ASSETS 7,630,961 7,899,516
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,766,384

8,060,793

CREDITORS
Amounts falling due after more than one
year

8

23,602

-
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 (815,153 ) (708,954 )
7,742,782 8,060,793

TOTAL MEMBERS' INTERESTS
Members' other interests 7,742,782 8,060,793

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 31 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.

CONNOR DEVELOPMENTS (UK) LLP (REGISTERED NUMBER: OC328130)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2025 and were signed by:





L Connor - Designated member

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
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.

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
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 etc - 25% on reducing balance and 15% on reducing balance

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 3 (2023 - 3 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 12,228 14,387

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 436,023
Additions 1,358
At 31 March 2024 437,381
DEPRECIATION
At 1 April 2023 274,746
Charge for year 27,212
At 31 March 2024 301,958
NET BOOK VALUE
At 31 March 2024 135,423
At 31 March 2023 161,277

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 198,891
DEPRECIATION
At 1 April 2023 107,158
Charge for year 14,984
At 31 March 2024 122,142
NET BOOK VALUE
At 31 March 2024 76,749
At 31 March 2023 91,733

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 5,421,284 5,383,742

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 14,733 52,609
Trade creditors 130,196 129,471
Taxation and social security 4,820 1,184
Other creditors 7,925 40,645
157,674 223,909

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 23,602 -

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.