REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
PAVS Property LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
PAVS Property LLP |
PAVS Property LLP (Registered number: OC433799) |
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 |
PAVS Property LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
44 The Pantiles |
Tunbridge Wells |
Kent |
TN2 5TN |
PAVS Property LLP (Registered number: OC433799) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,912,379 |
4,329,819 |
PAVS Property LLP (Registered number: OC433799) |
Balance Sheet - continued |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
24,537 |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 3,887,842 | 4,329,819 |
3,912,379 | 4,329,819 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 24,537 | - |
Members' other interests | 3,887,842 | 4,329,819 |
3,912,379 | 4,329,819 |
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 were approved by the members of the LLP and authorised for issue on |
PAVS Property LLP (Registered number: OC433799) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
PAVS Property 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 |
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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
Investment property is shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate deficit or surplus arising from changes in fair value is recognised through profit and loss. |
Fixed asset investments |
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate deficit or surplus arising from changes in fair value is recognised through profit and loss. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
31.3.24 | 31.3.23 |
£ | £ |
Investment in ENG8 Ltd | 50,000 | - |
PAVS Property LLP (Registered number: OC433799) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Additions |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2023 | 185,000 |
Cost | 5,303,840 |
5,488,840 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 5,303,840 | 4,651,329 |
Investment properties were valued on an open market basis on 31 March 2023 by the designated members . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |
PAVS Property LLP (Registered number: OC433799) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Loans |
The loans are secured against the LLP's investment properties |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Capital introduced by members and capital repaid to members is done at par. A member is not entitled to receive capital repayment whilst a member of the LLP or following resignation. |
The drawings policy of the LLP allows each member to draw in advance a proportion of their annual profit share, subject to the cash requirements of the business and the agreement of the other members. Undrawn profits at the end of the year may be transferred to equity at the option of the member or drawn in subsequent periods subject to the cash requirements of the business and the agreement of the other members. |
Any transfers of members' interests from equity to debt (and vice versa) is done at par. |
11. | CONTINGENT LIABILITIES |
The LLP's investment properties secure loans totalling £1,667,835 (2023 £2,266,610) ) at the balance sheet date in its member Omnia Holdings Limited. |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date the LLP owed a company controlled by a member £1,567 (2023 £6,621). This loan is interest free and repayable on demand.. |