Formations No 229 LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC415275 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

FORMATIONS NO 229 LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr M Knight

MKLINK Holdings Ltd

REGISTERED OFFICE:

31 Chapman Way

Cheltenham

Gloucestershire

GL51 3NE

REGISTERED NUMBER:

OC415275 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Investment property

4

525,000

CURRENT ASSETS

Cash at bank

8,451

1,951

CREDITORS

Amounts falling due within one year

5

1,620

NET CURRENT ASSETS

6,831

331

TOTAL ASSETS LESS CURRENT
LIABILITIES

531,831

525,331

CREDITORS

Amounts falling due after more than one year

6

13,250

NET ASSETS ATTRIBUTABLE TO
MEMBERS

518,581

512,081

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

503,581

497,081

Revaluation reserve

15,000

518,581

512,081

TOTAL MEMBERS' INTERESTS

Members' other interests

518,581

512,081

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 December 2025 and were signed by:

Mr M Knight - Designated member

1.	STATUTORY INFORMATION

Formations No 229 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical accounting estimates. lt also requires management to exercise judgement in applying the company's accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, the members are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

GOING CONCERN

Although the LLP's balance sheet reflects a positive financial position, certain factors, such as potential cash flow constraints, market uncertainties, or significant pending liabilities, could impact its ability to continue as a going concern.

Partners are actively monitoring these risks and implementing strategies to mitigate any potential adverse effects on future operations.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

and 31 March 2025

525,000

Net book value

At 31 March 2025

525,000

At 31 March 2024

525,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

15,000

Cost

510,000

525,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other creditors

832

Accrued expenses

788

1,620

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans more 5 yr by instal

13,250

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

13,250