Registered No. OC401214 (England and Wales)
Allita Properties LLP
Unaudited accounts
for the year ended 31 March 2024
Allita Properties LLP
LLP Information
for the year ended 31 March 2024
Designated members
Mukund Raj Kanoria
Registered Number
OC401214 (England and Wales)
Registered Office
19 Hendon Avenue
London
N3 1UJ
United Kingdom
Allita Properties LLP
Statement of financial position
as at 31 March 2024
Investment property
4,483,661
4,483,661
Cash at bank and in hand
45,889
53,526
Creditors: amounts falling due within one year
(163,515)
(120,230)
Net current liabilities
(97,626)
(46,704)
Total assets less current liabilities
4,386,035
4,436,957
Creditors: amounts falling due after more than one year
(5,193,497)
(5,081,209)
Net liabilities attributable to members
(807,462)
(644,252)
Other reserves
(807,462)
(644,252)
Members' other interests
(807,462)
(644,252)
For the year ending 31 March 2024 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the members on 6 March 2025.
Sangita Kanoria
Designated member
Limited Liability Partnership Registration No. OC401214
Allita Properties LLP
Notes to the Accounts
for the year ended 31 March 2024
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
The accounts are presented in £ sterling.
The financial statements have been prepared on the going concern basis as the members have confirmed they will continue to provide necessary funding in order for the LLP to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the members are satisfied that the financial statements should be prepared on a going concern basis.
Turnover is recognised from the property rental during the year to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.
Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value.
Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or determinable payments. These include:
Trade and other debtors - these are initially recognised at fair value or at their nominal amount less impairment losses if due in less than 12 months. Subsequent to initial recognition, trade and other receivables are valued at amortised cost less impairment losses.
Cash and cash equivalents - comprise cash balances and call deposits. The cash and cash equivalents are stated at their nominal values, as this approximates to amortised cost.
Other financial liabilities
Other financial liabilities are subsequently measured at amortised cost using the effective interest method.
Allita Properties LLP
Notes to the Accounts
for the year ended 31 March 2024
Allita Properties LLP is a limited liability partnership, incorporated in England and Wales, registration number OC401214. Its registered office is 19 Hendon Avenue, London, N3 1UJ, United Kingdom.
Fair value at 1 April 2023
4,483,661
At 31 March 2024
4,483,661
4
Creditors: amounts falling due within one year
2024
2023
Other creditors
41,753
41,754
5
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,337,250
2,337,250
Other creditors
2,856,247
2,743,959
The bank loans are secured against the assets of the LLP.
6
Average number of employees
During the year the average number of employees was 0 (2023: 4).