Heap Land Partnership LLP
Filleted Accounts
31 March 2025
Registered number
OC314908
Heap Land Partnership LLP
Registered number: OC314908
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 210,120 201,249
Current assets
Debtors 4 15,000 15,000
Cash at bank and in hand 4,919 18,789
19,919 33,789
Creditors: amounts falling due within one year 5 (5,050) (5,653)
Net current assets 14,869 28,136
Total assets less current liabilities 224,989 229,385
Creditors: amounts falling due after more than one year 6 (9,317) (13,764)
Net assets attributable to members 215,672 215,621
Represented by:
Loans and other debts due to members 7 180,372 201,643
Members' other interests
Other reserves 35,300 13,978
215,672 215,621
Total members' interests
Loans and other debts due to members 7 180,372 201,643
Members' other interests 35,300 13,978
215,672 215,621
For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 19 June 2025 and signed on their behalf by:
Mr Craig Heap
Designated member
Heap Land Partnership LLP
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Taxation
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 50 years
Fixtures and fittings over 10 years
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2025 2024
Number Number
Average number of persons employed by the LLP 0 0
3 Tangible fixed assets
Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 1 April 2024 201,312 3,693 849 205,854
Additions - 10,750 - 10,750
At 31 March 2025 201,312 14,443 849 216,604
Depreciation
At 1 April 2024 2,778 1,282 545 4,605
Charge for the year 463 1,316 100 1,879
At 31 March 2025 3,241 2,598 645 6,484
Net book value
At 31 March 2025 198,071 11,845 204 210,120
At 31 March 2024 198,534 2,411 304 201,249
4 Debtors 2025 2024
£ £
Other debtors 15,000 15,000
5 Creditors: amounts falling due within one year 2025 2024
£ £
AMC Loan 5,050 5,653
6 Creditors: amounts falling due after one year 2025 2024
£ £
AMC Loan 9,317 13,764
7 Loans and other debts due to members 2025 2024
£ £
Loans from members 151,079 151,079
Amounts due to members in respect of profits 29,293 50,564
180,372 201,643
Amounts falling due within one year 180,372 201,643
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.
8 Other information
Heap Land Partnership LLP is a limited liability partnership incorporated in England. Its registered office is:
161 Benton Park Road
Newcastle Upon Tyne
Tyne and Wear
NE7 7NB
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