REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH MARCH 2024 |
FOR |
FARGAIN DEVELOPMENTS LLP |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH MARCH 2024 |
FOR |
FARGAIN DEVELOPMENTS LLP |
FARGAIN DEVELOPMENTS LLP (REGISTERED NUMBER: OC349750) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH MARCH 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
FARGAIN DEVELOPMENTS LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 30TH MARCH 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
83 Cambridge Street |
London |
SW1V 4PS |
FARGAIN DEVELOPMENTS LLP (REGISTERED NUMBER: OC349750) |
BALANCE SHEET |
30TH MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
- |
1,038,217 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
- |
1,038,217 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | - | 1,038,217 |
Amounts due from members | 5 | (471,767 | ) | (561,953 | ) |
(471,767 | ) | 476,264 |
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. |
FARGAIN DEVELOPMENTS LLP (REGISTERED NUMBER: OC349750) |
BALANCE SHEET - continued |
30TH MARCH 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
FARGAIN DEVELOPMENTS LLP (REGISTERED NUMBER: OC349750) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH MARCH 2024 |
1. | STATUTORY INFORMATION |
Fargain Developments 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 |
Going concern |
The accounts have been prepared on a going concern basis, since in the opinion of the members, it is appropriate to assume that the company will receive the continued support from its members for the period in excess of twelve months from the date of approval of these financial statements. |
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 |
Plant and machinery etc | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 31st March 2023 |
and 30th March 2024 |
DEPRECIATION |
At 31st March 2023 |
and 30th March 2024 |
NET BOOK VALUE |
At 30th March 2024 |
FARGAIN DEVELOPMENTS LLP (REGISTERED NUMBER: OC349750) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH MARCH 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts due from members | 471,767 | 561,953 |
Other debtors |
VAT |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 7,773 | 13,949 |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members will rank equally with debts due to other unsecured creditors in the event of a winding up of the LLP. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is M W Harold. |