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REGISTERED NUMBER: OC362973 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Lovely Sunshine LLP

Lovely Sunshine LLP (Registered number: OC362973)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lovely Sunshine LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Dr A A Tejuoso
Aktis International Limited
Dabis International Co. Limited





REGISTERED OFFICE: c/o Mr A Tejuoso
Flat 1
133 Harley Street
London
W1G 6BD





REGISTERED NUMBER: OC362973 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Lovely Sunshine LLP (Registered number: OC362973)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 265,330 321,779
Investment property 5 34,082,366 34,354,952
34,347,696 34,676,731

CURRENT ASSETS
Debtors 6 1,280,393 216,516

CREDITORS
Amounts falling due within one year 7 121,358 23,300
NET CURRENT ASSETS 1,159,035 193,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,506,731

34,869,947

CREDITORS
Amounts falling due after more than one year 8 2,397,907 2,832,403
NET ASSETS ATTRIBUTABLE TO
MEMBERS

33,108,824

32,037,544

Lovely Sunshine LLP (Registered number: OC362973)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 33,108,824 32,037,544
33,108,824 32,037,544

TOTAL MEMBERS' INTERESTS
Members' other interests 33,108,824 32,037,544

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.

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 10 February 2025 and were signed by:





Dr A A Tejuoso - Designated member

Lovely Sunshine LLP (Registered number: OC362973)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Lovely Sunshine 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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover represents rentals invoiced, net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.

Lovely Sunshine LLP (Registered number: OC362973)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment of assets
Fixed assets are reviewed at each reporting date to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

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

Lovely Sunshine LLP (Registered number: OC362973)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 767,489
Additions 32,484
At 31 March 2024 799,973
DEPRECIATION
At 1 April 2023 445,710
Charge for year 88,933
At 31 March 2024 534,643
NET BOOK VALUE
At 31 March 2024 265,330
At 31 March 2023 321,779

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 34,354,952
Additions 417,414
Disposals (690,000 )
At 31 March 2024 34,082,366
NET BOOK VALUE
At 31 March 2024 34,082,366
At 31 March 2023 34,354,952

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 6,031,792
Valuation in 2022 1,322,168
Cost 26,728,406
34,082,366

Lovely Sunshine LLP (Registered number: OC362973)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 336,292 38,843
Other debtors 944,101 177,673
1,280,393 216,516

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 121,358 23,300

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 2,397,907 2,832,403

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,397,907 2,832,403

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 2,397,907 2,832,403

10. RELATED PARTY DISCLOSURES

As at 31 March 2024 £482,123 (2023: £168,673) was owed from entities connected with key management personnel.

During the period under review rent and service charges totalling £936,000 (2023: £528,000) was charged to companies connected with key management personnel.