Registered No. OC435327 (England and Wales)
Belfield Ipplepen LLP
Unaudited accounts
for the year ended 31 March 2025
Belfield Ipplepen LLP
LLP Information
for the year ended 31 March 2025
Designated members
Belfield Developments Limited
Seymore Lowe Developments Ltd
Registered Number
OC435327 (England and Wales)
Registered Office
Orchard House Orchard House
Clyst St Mary
Exeter
EX5 1BR
England
Accountants
The Fresh Accountancy Company Limited
Orchard House
Clyst St. Mary
Exeter
DEvon
EX5 1BR
Belfield Ipplepen LLP
Statement of financial position
as at 31 March 2025
Inventories
2,705,863
3,483,327
Cash at bank and in hand
4,160
4,322
Creditors: amounts falling due within one year
(2,555,566)
(3,013,800)
Net current assets
197,219
609,034
Net assets attributable to members
197,219
609,034
Loans and other debts due to members
759,897
367,867
Members' capital classified as equity
650,000
790,000
Other reserves
(1,212,678)
(548,833)
Loans and other debts due to members
759,897
367,867
Members' other interests
(562,678)
241,167
For the year ending 31 March 2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 11 December 2025.
Belfield Developments Limited
Designated member
Limited Liability Partnership Registration No. OC435327
Belfield Ipplepen LLP
Notes to the Accounts
for the year ended 31 March 2025
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.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense.
Members' shares in the profit or loss for the year available for discretionary division among the members are accounted for as an allocation of that balance. Allocated balances are split between the members with any unallocated balances being included within 'Other reserves'.
Work in progress is valued on the basis of direct costs plus attributable overheads where appropriate. Directly attributable finance costs are also included in the valuation of work in progress. Provision is made for any foreseeable losses where appropriate. No element of profit is included n the valuation of work in progress.
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.
Belfield Ipplepen LLP is a limited liability partnership, incorporated in England and Wales, registration number OC435327. Its registered office is Orchard House Orchard House, Clyst St Mary, Exeter, EX5 1BR, England.
Work in progress
2,705,863
3,483,327
Belfield Ipplepen LLP
Notes to the Accounts
for the year ended 31 March 2025
4
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
2,484,029
2,637,135
Trade creditors
45,355
59,945
Other creditors
15,365
312,185
The bank loan falling due within one year totalling £2,484,029 (2024 - £2,637,135) is secured by way of a charge over the LLP's assets
5
Loans and other debts due to members
2025
2024
Loans from members
759,897
367,867
Amounts falling due within one year
759,897
367,867
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.
7
Average number of employees
During the year the average number of employees was 0 (2024: 1).