IRIS Accounts Production v25.1.0.734 OC421436 designated member 1.4.23 31.3.24 31.3.24 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4214362023-03-31OC4214362024-03-31OC4214362023-04-012024-03-31OC4214362022-03-31OC4214362022-04-012023-03-31OC4214362023-03-31OC421436ns15:EnglandWales2023-04-012024-03-31OC421436ns14:PoundSterling2023-04-012024-03-31OC421436ns10:PartnerLLP12023-04-012024-03-31OC421436ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC421436ns10:SmallEntities2023-04-012024-03-31OC421436ns10:AuditExemptWithAccountantsReport2023-04-012024-03-31OC421436ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC421436ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC421436ns10:FullAccounts2023-04-012024-03-31OC421436ns10:PartnerLLP22023-04-012024-03-31OC421436ns10:RegisteredOffice2023-04-012024-03-31OC421436ns5:CurrentFinancialInstruments2024-03-31OC421436ns5:CurrentFinancialInstruments2023-03-31OC421436ns5:Non-currentFinancialInstruments2024-03-31OC421436ns5:Non-currentFinancialInstruments2023-03-31OC421436ns5:LandBuildings2023-04-012024-03-31OC421436ns5:LandBuildings2023-03-31OC421436ns5:LandBuildings2024-03-31OC421436ns5:LandBuildings2023-03-31OC421436ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC421436ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: OC421436 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2024

for

NBC Family Partnership LLP

NBC Family Partnership LLP (Registered number: OC421436)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


NBC Family Partnership LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: Ms C A Bauer
NBC Family Holdings Limited
Ms N E Pope





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





REGISTERED NUMBER: OC421436 (England and Wales)





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

NBC Family Partnership LLP (Registered number: OC421436)

Report of the Members
for the Year Ended 31st March 2024

The members present their report with the financial statements of the LLP for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property letting.

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

Ms C A Bauer
NBC Family Holdings Limited
Ms N E Pope

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £47,182 (2023 - £280,963 profit).

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:





Ms N E Pope - Designated member


16th April 2025

NBC Family Partnership LLP (Registered number: OC421436)

Income Statement
for the Year Ended 31st March 2024

2024 2023
£    £   

TURNOVER 511,246 451,833

Administrative expenses (279,921 ) (216,309 )
231,325 235,524

Other operating income 5,000 251,000
OPERATING PROFIT 236,325 486,524


Interest payable and similar expenses (283,507 ) (205,561 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(47,182




)




280,963

NBC Family Partnership LLP (Registered number: OC421436)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,127,042 9,073,950

CURRENT ASSETS
Debtors 5 36,534 61,552
Cash at bank 31,802 103,367
68,336 164,919
CREDITORS
Amounts falling due within one year 6 (664,975 ) (422,014 )
NET CURRENT LIABILITIES (596,639 ) (257,095 )
TOTAL ASSETS LESS CURRENT LIABILITIES 8,530,403 8,816,855

CREDITORS
Amounts falling due after more than one
year

7

(5,713,781

)

(5,677,798

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,816,622 3,139,057

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

3,139,057

MEMBERS' OTHER INTERESTS
Capital accounts 2,816,622 -
2,816,622 3,139,057

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 - 3,139,057
Members' other interests 2,816,622 -
Amounts due from members 5 (32,731 ) -
2,783,891 3,139,057

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 31st 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.

NBC Family Partnership LLP (Registered number: OC421436)

Balance Sheet - continued
31st March 2024


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 16th April 2025 and were signed by:





Ms N E Pope - Designated member

NBC Family Partnership LLP (Registered number: OC421436)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

NBC Family Partnership 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 as modified by the revaluation of certain assets.

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1st April 2023 9,073,950
Additions 48,092
Revaluations 5,000
At 31st March 2024 9,127,042
NET BOOK VALUE
At 31st March 2024 9,127,042
At 31st March 2023 9,073,950

NBC Family Partnership LLP (Registered number: OC421436)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st March 2024 is represented by:

Land and
buildings
£   
Valuation in 2020 (343,500 )
Valuation in 2022 66,700
Valuation in 2023 251,000
Valuation in 2024 5,000
Cost 9,147,842
9,127,042

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 36,534 61,552

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 495 495
Other creditors 654,480 411,519
664,975 422,014

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,912 21,667
Other creditors 5,701,869 5,656,131
5,713,781 5,677,798

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 5,431,869 5,386,131

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of all other creditors in a liquidation.