Limited Liability Partnership registration number OC330401 (England and Wales)
Hollins Strategic Land LLP
Annual report and unaudited financial statements
For the period ended 31 March 2024
Hollins Strategic Land LLP
Contents
Page
Balance sheet
1 - 2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 9
Hollins Strategic Land LLP
Balance sheet
As at 31 March 2024
- 1 -
31 March 2024
30 April 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
208,788
270,845
Current assets
Stocks
-
188,464
Debtors
4
6,013,659
26,420,920
Cash at bank and in hand
164,907
664,614
6,178,566
27,273,998
Creditors: amounts falling due within one year
5
(6,189,598)
(27,082,183)
Net current (liabilities)/assets
(11,032)
191,815
Total assets less current liabilities
197,756
462,660
Creditors: amounts falling due after more than one year
6
(197,756)
(227,706)
Net assets attributable to members
-
234,954
Represented by:
Members' other interests
Other reserves classified as equity
-
234,954
-
234,954
Total members' interests
Amounts due from members
(2,578,505)
(1,982,070)
Members' other interests
-
234,954
(2,578,505)
(1,747,116)
Hollins Strategic Land LLP
Balance sheet (continued)
As at 31 March 2024
- 2 -

For the financial period ended 31 March 2024 the limited liability partnership 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 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 30 January 2025 and are signed on their behalf by:
30 January 2025
Mr S L Goodman
Designated member
Limited Liability Partnership registration number OC330401 (England and Wales)
Hollins Strategic Land LLP
Reconciliation of members' interests
For the period ended 31 March 2024
- 3 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Other amounts
Total
Total
2024
£
£
£
£
Members' interests at 1 May 2023
234,954
(1,982,070)
(1,982,070)
(1,747,116)
Loss for the period available for discretionary division among members
(123,386)
-
-
(123,386)
Members' interests after loss for the period
111,568
(1,982,070)
(1,982,070)
(1,870,502)
Allocation of loss for the period
123,386
(123,386)
(123,386)
-
Other divisions of profits
(234,954)
234,954
234,954
-
Drawings on account and distributions of profit
-
(708,003)
(708,003)
(708,003)
Members' interests at 31 March 2024
-
(2,578,505)
(2,578,505)
(2,578,505)
Amounts due to members
-
Amounts due from members, included in debtors
(2,578,505)
(2,578,505)
Hollins Strategic Land LLP
Reconciliation of members' interests (continued)
For the period ended 31 March 2024
- 4 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Other reserves
Other amounts
Total
Total
2023
£
£
£
£
Members' interests at 1 May 2022
452,471
(1,563,716)
(1,563,716)
(1,111,245)
Profit for the period available for discretionary division among members
234,954
-
-
234,954
Members' interests after profit for the year
687,425
(1,563,716)
(1,563,716)
(876,291)
Other divisions of profits
(452,471)
425,558
425,558
(26,913)
Introduced by members
-
200,000
200,000
200,000
Drawings on account and distributions of profit
-
(1,043,912)
(1,043,912)
(1,043,912)
Members' interests at 31 March 2023
234,954
(1,982,070)
(1,982,070)
(1,747,116)
Amounts due to members
-
Amounts due from members, included in debtors
(1,982,070)
(1,982,070)
Hollins Strategic Land LLP
Notes to the financial statements
For the period ended 31 March 2024
- 5 -
1
Accounting policies
Limited liability partnership information

Hollins Strategic Land LLP is a limited liability partnership incorporated in England and Wales. The registered office is Suite 3, First Floor, Victoria Court, Bexton Road, Knutsford, Cheshire, WA16 0PF.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Reporting period

During the year the company changed its year end from 30 April to 31 March. The financial statements are therefore for the period from 1 May 2023 to 31 March 2024 whilst the comparative period covers the year to 30 April 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Turnover

Turnover represents amounts receivable for development land and related services net of VAT.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

Hollins Strategic Land LLP
Notes to the financial statements (continued)
For the period ended 31 March 2024
1
Accounting policies
(Continued)
- 6 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office Equipment
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Hollins Strategic Land LLP
Notes to the financial statements (continued)
For the period ended 31 March 2024
1
Accounting policies
(Continued)
- 7 -

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

2
Employees

The average number of persons (excluding members) employed by the partnership during the period was:

2024
2023
Number
Number
Total
6
7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 and 31 March 2024
296,476
Depreciation and impairment
At 1 May 2023
25,631
Depreciation charged in the period
62,057
At 31 March 2024
87,688
Carrying amount
At 31 March 2024
208,788
At 30 April 2023
270,845
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
903,029
5,791,678
Amounts owed by members
2,578,505
1,982,070
Other debtors
2,504,913
18,623,890
Prepayments and accrued income
27,212
23,282
6,013,659
26,420,920
Hollins Strategic Land LLP
Notes to the financial statements (continued)
For the period ended 31 March 2024
- 8 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Obligations under finance leases
22,432
17,106
Other borrowings
1,100,000
1,800,000
Trade creditors
112,882
21,875,483
Other taxation and social security
9,776
7,889
Other creditors
4,796,250
3,312,466
Accruals and deferred income
138,258
59,239
6,189,598
27,082,183

Bank loans and other borrowings are unsecured.

Other borrowings represent amounts owed to N Bostock, designated member.

 

Obligations under finance leases are secured on the underlying assets.

6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
11,667
20,833
Obligations under finance leases
186,089
206,873
197,756
227,706

Bank loans are unsecured.

Obligations under finance leases are secured on the underlying assets.

7
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

Hollins Strategic Land LLP
Notes to the financial statements (continued)
For the period ended 31 March 2024
- 9 -
8
Operating lease commitments
Lessee

At the reporting end date the limited liability partnership had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
43,460
89,096
9
Related party transactions
Transactions with related parties

During the period the limited liability partnership entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2024
2023
2024
2023
£
£
£
£
Entities under common control
1,309,823
583,290
4,202,165
1,275,832
Other Operating Income
Interest Payable and Other Expenses
2024
2023
2024
2023
£
£
£
£
Entities under common control
1,585,239
854,564
583,050
2,281
Key management personnel
-
-
43,400
49,745
2024
2023
Amounts due to related parties
£
£
Entities under common control
4,694,068
25,007,108
2024
2023
Amounts due from related parties
£
£
Entities under common control
2,282,648
23,514,960
2024-03-312023-05-01false30 January 2025CCH SoftwareCCH Accounts Production 2024.200falsefalseOC3304012023-05-012024-03-31OC3304012024-03-31OC330401bus:PartnerLLP32023-05-012024-03-31OC3304012022-05-012023-04-30OC330401bus:LimitedLiabilityPartnershipLLP2023-05-012024-03-31OC330401bus:SmallCompaniesRegimeForAccounts2023-05-012024-03-31OC330401bus:FRS1022023-05-012024-03-31OC330401bus:AuditExemptWithAccountantsReport2023-05-012024-03-31OC330401bus:FullAccounts2023-05-012024-03-31xbrli:purexbrli:shares