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REGISTERED NUMBER: OC437277 (England and Wales)















Report of the Members and

Unaudited Financial Statements

for the Period 1st April 2023 to 31st December 2023

for

Ncube Family LLP

Ncube Family LLP (Registered number: OC437277)






Contents of the Financial Statements
for the Period 1st April 2023 to 31st December 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Ncube Family LLP

General Information
for the Period 1st April 2023 to 31st December 2023







DESIGNATED MEMBERS: F S Ncube
Mrs P S Ncube
P&S Ncube Ltd





REGISTERED OFFICE: C/O OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Billingham
Co.Durham
TS23 4EA





REGISTERED NUMBER: OC437277 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Ncube Family LLP (Registered number: OC437277)

Report of the Members
for the Period 1st April 2023 to 31st December 2023

The members present their report with the financial statements of the LLP for the period 1st April 2023 to 31st December 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the period under review was that of property rentals.

DESIGNATED MEMBERS
The designated members during the period under review were:

F S Ncube
Mrs P S Ncube
P&S Ncube Ltd

RESULTS FOR THE PERIOD AND ALLOCATION TO MEMBERS
The loss for the period before members' remuneration and profit shares was £45,633 (2023 - £67,365 loss).

MEMBERS' INTERESTS
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or retirement. Only those members who have contributed capital to the LLP are allocated losses, if the LLP declares a loss in a period.

ON BEHALF OF THE MEMBERS:





F S Ncube - Designated member


21st March 2025

Ncube Family LLP (Registered number: OC437277)

Income Statement
for the Period 1st April 2023 to 31st December 2023

Period
1.4.23
to Year Ended
31.12.23 31.3.23
£    £   

TURNOVER 286,037 320,173

Administrative expenses (86,888 ) (103,595 )
199,149 216,578

Other operating income 23,242 -
OPERATING PROFIT 222,391 216,578

Interest receivable and similar income 108 14
222,499 216,592

Interest payable and similar expenses (268,132 ) (283,957 )
LOSS FOR THE FINANCIAL PERIOD BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



(45,633



)



(67,365



)

Ncube Family LLP (Registered number: OC437277)

Balance Sheet
31st December 2023

2023 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,220,298 7,207,798

CURRENT ASSETS
Debtors 5 941,413 49,736
Cash at bank 3,406 2,411
944,819 52,147
CREDITORS
Amounts falling due within one year 6 (4,264 ) (13,449 )
NET CURRENT ASSETS 940,555 38,698
TOTAL ASSETS LESS CURRENT LIABILITIES 8,160,853 7,246,496

CREDITORS
Amounts falling due after more than one
year

7

(5,793,490

)

(5,402,794

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,367,363 1,843,702

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

1,843,702

MEMBERS' OTHER INTERESTS
Capital accounts 2,367,363 -
2,367,363 1,843,702

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 - 1,843,702
Members' other interests 2,367,363 -
Amounts due from members 5 (939,913 ) (49,736 )
1,427,450 1,793,966

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 period ended 31st December 2023.

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.

Ncube Family LLP (Registered number: OC437277)

Balance Sheet - continued
31st December 2023


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 21st March 2025 and were signed by:





F S Ncube - Designated member

Ncube Family LLP (Registered number: OC437277)

Notes to the Financial Statements
for the Period 1st April 2023 to 31st December 2023

1. STATUTORY INFORMATION

Ncube Family 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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st April 2023 7,207,798
Additions 12,500
At 31st December 2023 7,220,298
NET BOOK VALUE
At 31st December 2023 7,220,298
At 31st March 2023 7,207,798

The members see no benefit in revaluing the properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Other debtors 941,413 49,736

Ncube Family LLP (Registered number: OC437277)

Notes to the Financial Statements - continued
for the Period 1st April 2023 to 31st December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade creditors 1,360 12,009
Other creditors 2,904 1,440
4,264 13,449

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Other creditors 5,793,490 5,402,794

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Mortgages 5,793,490 5,402,794

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in liquidation.