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REGISTERED NUMBER: OC349750 (England and Wales)






















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: M W Harold
Universal Advanced Technology Limited





REGISTERED OFFICE: 83 Cambridge Street
Pimlico
London
SW1V 4PS





REGISTERED NUMBER: OC349750 (England and Wales)





ACCOUNTANTS: George Hay & Company
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 132,638 132,638
Debtors 5 539,285 633,920
Cash at bank 2,975 1,202,496
674,898 1,969,054
CREDITORS
Amounts falling due within one year 6 638,194 887,957
NET CURRENT ASSETS 36,704 1,081,097
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,704

1,081,097

CREDITORS
Amounts falling due after more than one
year

7

36,704

42,880
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 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 30th 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.

FARGAIN DEVELOPMENTS LLP (REGISTERED NUMBER: OC349750)

BALANCE SHEET - continued
30TH MARCH 2024


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 27th March 2025 and were signed by:





M W Harold - Designated member

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

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 36,820
DEPRECIATION
At 31st March 2023
and 30th March 2024 36,820
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 21,562 21,562
Amounts due from members 471,767 561,953
Other debtors 43,898 48,513
VAT 2,058 1,892
539,285 633,920

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,233 7,233
Trade creditors 272,537 131,856
Taxation and social security 12,340 12,340
Other creditors 346,084 736,528
638,194 887,957

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 36,704 42,880

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.