Acorah Software Products - Accounts Production 16.2.850 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 OC443869 Homes By Carlton Ltd Believe Developments Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC443869 2024-03-31 OC443869 2025-03-31 OC443869 2024-04-01 2025-03-31 OC443869 frs-core:CurrentFinancialInstruments 2025-03-31 OC443869 frs-core:Non-currentFinancialInstruments 2025-03-31 OC443869 frs-bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC443869 frs-bus:LimitedLiabilityPartnershipsSORP 2024-04-01 2025-03-31 OC443869 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 OC443869 frs-bus:SmallEntities 2024-04-01 2025-03-31 OC443869 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC443869 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC443869 frs-countries:EnglandWales 2024-04-01 2025-03-31 OC443869 frs-bus:PartnerLLP1 2024-04-01 2025-03-31 OC443869 frs-bus:PartnerLLP2 2024-04-01 2025-03-31 OC443869 2023-03-31 OC443869 2024-03-31 OC443869 2023-04-01 2024-03-31 OC443869 frs-core:CurrentFinancialInstruments 2024-03-31 OC443869 frs-core:Non-currentFinancialInstruments 2024-03-31
Registered number: OC443869
Believe Carlton MSG LLP
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: OC443869
2025 2024
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 12,220,098 13,149,433
Debtors 5 16,581 8,207
Cash at bank and in hand 62,818 90,511
12,299,497 13,248,151
Creditors: Amounts Falling Due Within One Year 6 (306,886 ) (518,282 )
NET CURRENT ASSETS (LIABILITIES) 11,992,611 12,729,869
TOTAL ASSETS LESS CURRENT LIABILITIES 11,992,611 12,729,869
Creditors: Amounts Falling Due After More Than One Year 7 (11,992,611 ) (12,729,869 )
NET ASSETS ATTRIBUTABLE TO MEMBERS - -
REPRESENTED BY:
TOTAL MEMBERS' INTEREST
Amounts due from members (1,560) (1,745)
(1,560) (1,745)
For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Believe Developments Limited
Designated Member
6th May 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Believe Carlton MSG LLP is a limited liability partnership, incorporated in England & Wales, registered number OC443869 . The Registered Office is Carlton House, 15 Parsons Court, Welbury Way, Newton Aycliffe, County Durham, DL5 6ZE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)
- -
4. Stocks
2025 2024
£ £
Work in progress 12,220,098 13,149,433
5. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income 13,922 -
VAT 1,099 6,462
Amounts due from members 1,560 1,745
16,581 8,207
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 281,155 491,099
Other creditors 24,981 24,983
Accruals and deferred income 750 1,250
Amounts owed to associates - 950
306,886 518,282
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Other loans 11,992,611 12,729,869
Page 3