NP Residential LLP - Filleted accounts

Registered number

OC350900

NP Residential LLP

Filleted Accounts

31 March 2025

NP Residential LLP
Registered number:		OC350900
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	1,669		2,623
		1,669		2,623
Current assets
Stocks		35,238		49,159
Debtors	4	35,370		6,148
Cash at bank and in hand		7,067		13,292
		77,675		68,599

Creditors: amounts falling due within one year	5	(31,693)		(30,645)

Net current assets		45,982		37,954

Total assets less current liabilities		47,651		40,577

Creditors: amounts falling due after more than one year	6	(15,833)		(25,614)

Provisions for liabilities		-		-

Net assets attributable to members		31,818		14,963

Represented by:
Loans and other debts due to members	7	31,818		14,963

Members' other interests
Members' capital classified as equity		-		-
		-		-

		31,818		14,963

Total members' interests
Amounts due from members included in debtors	4	-		-
Loans and other debts due to members	7	31,818		14,963
		31,818		14,963
Members' other interests		-		-

		31,818		14,963
		-













For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to 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.
The 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.

These accounts were approved by the members on 29 December 2025 and signed on their behalf by:


D HAIG
Designated member

NP Residential LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	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.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			over the lease term
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.




	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the LLP					4		4















3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	8,891		16,529		-		25,420
	Additions	-		-		-		-
	Revaluation	-						-
	Disposals	-		-		-		-
	At 31 March 2025	8,891		16,529		-		25,420

	Depreciation
	At 1 April 2024	8,891		13,906		-		22,797
	Charge for the year	-		954		-		954
	Revaluation	-						-
	On disposals	-		-		-		-
	At 31 March 2025	8,891		14,860		-		23,751

	Net book value
	At 31 March 2025	-		1,669		-		1,669
	At 31 March 2024	-		2,623		-		2,623


4	Debtors					2025		2024
£							£

	Trade debtors					2,640		2,640
	Amounts owed by group undertakings and undertakings in which the LLP has a participating interest					-		-
	Amounts due from members					-		-
	Other debtors					17,767		3,399
						20,407		6,039

	Amounts due after more than one year included above					-		-


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					-		-
	Obligations under finance lease and hire purchase contracts					-		-
	Trade creditors					26,199		4,654
	Amounts owed to group undertakings and undertakings in which the LLP has a participating interest					16,500		-
	Other taxes and social security costs					5,313		5,839
	Other creditors					10,968		20,152
						58,980		30,645




6	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					15,833		25,614
	Obligations under finance lease and hire purchase contracts					-		-
	Trade creditors					-		-
	Amounts owed to group undertakings and undertakings in which the LLP has a participating interest					-		-
	Other creditors					-		-
						15,833		25,614


7	Loans and other debts due to members					2025		2024
£							£

	Members capital classified as debt					-		-
	Loans from members					4,531		14,963
	Retirement benefit liabilities in respect of current members					-		-
	Amounts due to members in respect of profits					27,287		-
						31,818		14,963

	Amounts falling due within one year					31,818		14,963
	Amounts falling due after more than one year					-		-
						31,818		14,963

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


8	Other information

	NP Residential LLP is a limited liability partnership incorporated in England. Its registered office is:
	7 Baneswell Road
	Newport
	United Kingdom
	NP20 4BP