| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 SEPTEMBER 2023 |
| FOR |
| WORSTEAD DEVELOPMENTS LLP |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 30 SEPTEMBER 2023 |
| FOR |
| WORSTEAD DEVELOPMENTS LLP |
| WORSTEAD DEVELOPMENTS LLP (REGISTERED NUMBER: OC385764) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WORSTEAD DEVELOPMENTS LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| 5 Jardine House |
| Harrovian Business Village |
| Bessborough Road |
| Harrow |
| Middlesex |
| HA1 3EX |
| BANKERS: |
| 5 High Road |
| Willesden Green |
| London |
| NW10 2TE |
| WORSTEAD DEVELOPMENTS LLP (REGISTERED NUMBER: OC385764) |
| BALANCE SHEET |
| 30 SEPTEMBER 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
107,972 |
206,419 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
| MEMBERS' OTHER INTERESTS |
| Capital accounts | 107,972 | 206,419 |
| 107,972 | 206,419 |
| TOTAL MEMBERS' INTERESTS |
| Members' other interests | 107,972 | 206,419 |
| Amounts due from members | 4 | - | (95,795 | ) |
| 107,972 | 110,624 |
| 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. |
| WORSTEAD DEVELOPMENTS LLP (REGISTERED NUMBER: OC385764) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2023 |
| 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 |
| WORSTEAD DEVELOPMENTS LLP (REGISTERED NUMBER: OC385764) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
| 1. | STATUTORY INFORMATION |
| Worstead 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. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis. The LLP has incurred profits of £266 during the year ended 30 September 2019. The validity of this assumption depends on the LLP being able to trade profitably in the future and the continued support of the designated members. The designated members are of the opinion that there is considerable potential in future years and the LLP will trade profitably. The designated members have also expressed their willingness to continue supporting the LLP. Consequently the designated members consider it appropriate for the financial statements to be prepared on a going concern basis. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Taxation |
| Members are personally liable for taxation on their share of partnership profits and losses. Consequently no reserve for taxation is made in these financial statements, and the profits and losses are shown with 'Members' Interests' or as 'Loans and other debts due to Members' without any deduction for tax. |
| Government assisted loans |
| Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was NIL (2022 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| WORSTEAD DEVELOPMENTS LLP (REGISTERED NUMBER: OC385764) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| 7. | RELATED PARTY DISCLOSURES |
| Included within turnover is an amount of £197,325 (2022: £129,498) relating to a Worstead Land and Developments Limited in which the members have a controlling interest. Included within debtors is an amount of £26,485 (2022: £61.096) which is owed to this LLP by a company. Included within creditors is an amount of £137,635 (2022: £66,714.) owed by this LLP to a company. |
| Included within creditors is an amount of £2,574 (2022: £34,935) owed to the parents of the designated members of the LLP. |
| 8. | SECURITY PROVIDED |
| Helmsley Acceptances Limited have a fixed and floating charge over the assets of the company. |