Registration number: OC386151

Nova Wells 37 LLP

(Registration number: OC386151)
Statement of Financial Position as at 31 March 2025

	Note	2025  £	2024  £
Fixed assets
Investment property	4	357,580	357,580
Current assets
Debtors	5	11,485	21,891
Cash and short-term deposits		29,509	17,286
		40,994	39,177
Creditors: Amounts falling due within one year	6	(13,574)	(11,757)
Net current assets		27,420	27,420
Net assets attributable to members		385,000	385,000
Represented by:
Members’ other interests
Members' capital classified as equity		385,000	385,000
		385,000	385,000
Total members' interests
Amounts due from members		(11,336)	(11,927)
Equity		385,000	385,000
		373,664	373,073

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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

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 Nova Wells 37 LLP (registered number OC386151) were approved by the Board and authorised for issue on 15 August 2025. They were signed on behalf of the limited liability partnership by:

......................................... T G Lewis Designated member

Nova Wells 37 LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

Nova Wells 37 LLP (LLP number: OC386151) is a limited liability partnership incorporated in England and Wales. Its registered office is 41 Commercial Road, Poole, Dorset, BH14 0HU.

The financial statements have been prepared under the historical cost convention in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006 and in accordance with the Statement of Recommended Practice ‘Accounting for Limited Liability Partnerships’ issued in December 2018.

The presentation currency of the financial statements is the Pounds Sterling (£).

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.

2	Accounting policies

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements.

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other creditors, and loans from banks.

3	Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2024 - 0).

Nova Wells 37 LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

4	Investment property

	2025  £
At 1 April 2024	357,580
At 31 March 2025	357,580

The investment property was revalued by an independant valuer at 31 January 2025. The historic cost of the property was £375,196.

5

Debtors

	2025  £	2024  £
Other debtors	11,336	21,703
Prepayments and accrued income	149	188
	11,485	21,891

6	Creditors: Amounts falling due within one year

	2025 £	2024 £
Trade creditors	-	870
Other creditors	2,697	-
Accruals and deferred income	7,603	7,603
Taxation and social security	3,274	3,284
	13,574	11,757