Registered No. OC354446 (England and Wales)
Norvett Assets LLP
Unaudited accounts
for the year ended 31 March 2025
Norvett Assets LLP
LLP Information
for the year ended 31 March 2025
Designated members
Mrs Caroline Norman
Registered Number
OC354446 (England and Wales)
Registered Office
1 North Street
Alfriston
Polegate
East Sussex
BN26 5UG
Accountants
Maiden Accountancy Services
Suite 4 Compass House
45 Gildredge Road
Eastbourne
East Sussex
BN21 4RY
Norvett Assets LLP
Statement of financial position
as at 31 March 2025
Investment property
363,011
363,011
Cash at bank and in hand
5,262
5,123
Creditors: amounts falling due within one year
(113,959)
(140,643)
Net current liabilities
(106,244)
(134,247)
Net assets attributable to members
256,767
228,764
Members' capital classified as equity
256,767
228,764
Members' other interests
256,767
228,764
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 15 December 2025.
Mr Mark Norman
Designated member
Limited Liability Partnership Registration No. OC354446
Norvett Assets 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.
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Norvett Assets LLP is a limited liability partnership, incorporated in England and Wales, registration number OC354446. Its registered office is 1 North Street, Alfriston, Polegate, East Sussex, BN26 5UG.
Fair value at 1 April 2024
363,011
4
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
112,317
134,357
Trade creditors
1,642
6,286
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 0 (2024: 0).