ACCOUNTS - Final Accounts preparation

Loans and other debts due to members

Registered number: OC342131

TERRA DEVELOPMENTS LLP

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

TERRA DEVELOPMENTS LLP

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 4

TERRA DEVELOPMENTS LLP

REGISTERED NUMBER: OC342131

BALANCE SHEET

AS AT 31 MARCH 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	79,582		71,777
Cash at bank and in hand		21,270		25,199
		100,852		96,976
Creditors: Amounts Falling Due Within One Year	5	(7,269)		(2,190)
Net current assets			93,583		94,786
Total assets less current liabilities			93,583		94,786

Net assets			93,583		94,786

Represented by:
Loans and other debts due to members within one year
Other amounts	6	93,583	94,786

		93,583	94,786

Total members' interests
Loans and other debts due to members	6	93,583	94,786
		93,583	94,786

Page 1

TERRA DEVELOPMENTS LLP

REGISTERED NUMBER: OC342131

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 30 July 2025.

Mr E Grove

Designated member

The notes on pages 3 to 4 form part of these financial statements.

Page 2

TERRA DEVELOPMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Terra Developments LLP is a limited liability partnership incorporated and domiciled in England. The address of it`s registered office and principal place of business is Rainier House, 62 High Street, Henley-in-Arden,Warwickshire, B95 5AN.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

Page 3

TERRA DEVELOPMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Other debtors	71,307	71,777
Prepayments and accrued income	8,275	-
	79,582	71,777

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	6,519	1,440
Accruals and deferred income	750	750
	7,269	2,190


	Other amounts due to members	93,583	94,786

Loans and other debts due to members may be further analysed as follows:

					2025	2024
					£	£


	Falling due within one year	93,583	94,786

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Page 4