Registration number:
GNVPrice LLP
for the Year Ended 31 March 2025
GNVPrice LLP
Contents
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Limited liability partnership information |
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Financial Statements |
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Balance Sheet |
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Notes to the Financial Statements |
GNVPrice LLP
Limited liability partnership information
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Designated members |
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Registered office |
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Accountants |
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GNVPrice LLP
(Registration number: OC418580)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash and short-term deposits |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets attributable to members |
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Represented by: |
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Members’ other interests |
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Members' capital classified as equity |
138,368 |
160,097 |
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Other reserves |
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179,517 |
179,991 |
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179,517 |
179,991 |
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Total members' interests |
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Equity |
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179,517 |
179,991 |
For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.
These financial statements have been prepared in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.
The financial statements of GNVPrice LLP (registered number OC418580) were approved by the
GNVPrice LLP
(Registration number: OC418580)
Balance Sheet as at 31 March 2025
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GNVPrice LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
General information and basis of accounting
The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of GNVPrice LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates. Foreign operations are included in accordance with the policies set out below.
Revenue recognition
Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received.
Taxation
The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.
Tangible fixed assets
Individual fixed assets costing £250.00 or more are initially recorded at cost.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
15% straight line basis |
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Office equipment |
3 year straight line basis |
Members' interests
Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.
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Particulars of employees |
The average number of persons employed by the limited liability partnership during the year was
GNVPrice LLP
Notes to the Financial Statements for the Year Ended 31 March 2025
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Tangible fixed assets |
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Freehold land and buildings |
Plant and machinery |
Office equipment |
Total |
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Cost |
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At 1 April 2024 |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
- |
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Charge for the year |
- |
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At 31 March 2025 |
- |
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Net book value |
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At 31 March 2025 |
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At 31 March 2024 |
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Revaluation
The fair value of the limited liability partnership's land and buildings was valued on 14 August 2017 by an independent valuer. The name and qualification of the independent valuer are Barnes & Barnes Chartered Surveyors & Valuers.
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Debtors |
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2025 |
2024 |
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Other debtors |
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Total current trade and other debtors |
4,309 |
1,424 |
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Creditors: Amounts falling due within one year |
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2025 |
2024 |
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Trade creditors |
- |
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Other creditors |
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Creditors: Amounts falling due after more than one year |
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2025 |
2024 |
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Other creditors |
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