Praxela Developments LLP

	Page
Balance Sheet	1
Notes to the Financial Statements	2

Registered number: OC340930

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Cash at bank and in hand		8		421

		8		421
Creditors: Amounts Falling Due Within One Year	4	(4,146 )		(4,267 )

NET CURRENT ASSETS (LIABILITIES)			(4,138 )		(3,846 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(4,138 )		(3,846 )

NET LIABILITIES ATTRIBUTABLE TO MEMBERS			(4,138 )		(3,846 )

REPRESENTED BY:
Equity
Members' other interests
Members' capital		100		100
Other reserves		(4,238)		(3,946)

			(4,138)		(3,846)

TOTAL MEMBERS' INTEREST
Members' other interests			(4,138)		(3,846)

			(4,138)		(3,846)

For the year ending 31 December 2024 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

Mr Hannu Verkasalo

Designated Member

29 September 2025

The notes on page 2 form part of these financial statements.

1. General Information

Praxela Developments LLP is a limited liability partnership, incorporated in England & Wales, registered number OC340930 . The Registered Office is Unit 3 North Lynn Business Village, Bergen Way, King's Lynn, Norfolk, PE30 2JG.

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 represents income derived from the principle activity.

2.3. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.4. Taxation

The taxation payable on profits is the sole liability of the members during the period. As a result these unaudited financial statements do not include any provision for taxation payable by the members.

3. Average Number of Employees

Average number of members during the year was: 2 (2023: 2)

4. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	315	357
Other creditors	3,831	3,910

	4,146	4,267

5. Contingent Liabilities

There were no known contingent liabilities as at the current or previous balance sheet date.

6. Capital Commitments

There were no majopr capital commitments as at the current or the previous balance sheet date.

7. Related Party Transactions

The members are aware of the identity of the ultimate controlling party. However, they are under a duty of confidentiality that prevents them disclosing certain information required by Financial Reporting Standard 8. The members have therefore taken the exemption offered by the standard in respect of confidentiality.

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