Novem LLP Accounts






Novem LLP

	Registered No. OC314164
	Information for Filing with the Registrar
		31 March 2026

at	31 March 2026

Registered No.			OC314164	Notes	2026	2025
					£	£
Fixed assets

	Tangible assets			4	791,646	791,646


					791,646	791,646
Current assets

	Debtors			5	9,228	16,802

	Cash at bank and in hand				8,372	8,757
					17,600	25,559
Creditors: Amounts falling due within one year				6	(13,483)	(23,747)
Net current assets					4,117	1,812
Total assets less current liabilities					795,763	793,458


Net assets attributable to members					795,763	793,458

Represented by:
	Loans and other debts due to members				417,313	397,008
	Members' other interests
		Members' capital			378,450	396,450


					378,450	396,450

					795,763	793,458



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 March 2026 the LLP 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) 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.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 28 July 2026 and signed on its behalf by:
P.H. Ratcliff
Designated member
28 July 2026

for the year ended 31 March 2026

General information

Novem LLP is a limited liability partnership and incorporated in England and Wales.

Its registered number is: OC314164

Its registered office is:

C/O Afe Accountants Limited

North London Business Park

Oakleigh Road South

London

N11 1GN

The accounts have been prepared in accordance and comply with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Members' remuneration and division of profits

Remuneration is paid to certain members under a contract of employment and is included as an expense in the profit and loss account.

In addition, the LLP agreement provides that fixed amounts, determined for each member each year, be paid to members, irrespective of the profits of the LLP. These amounts are included within members' remuneration charged as an expense.

Profits are treated as being available for discretionary division only if the 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. Once agreement has been reached to divide the profits, a members' share in the profit or loss for the year is accounted for as an allocation of profits. Unallocated profits and losses remain included within 'other reserves'.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other 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.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

Members' Interests

Members' interests are classified as either equity or debt.

Equity interests comprise any capital introduced classified as equity, any unallocated profits, any revaluation reserve and any other reserves.

Loans and other debts due to members comprise any capital introduced but classified as a liability, any loans from members, amounts due to members in respect of allocated profits less drawings and any other amounts that the LLP is contractually obliged to repay to members.

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.

3	Employees
		2026	2025
		Number	Number

	The average number of persons employed during the year was:	0	0

4	Tangible fixed assets
		Land and buildings	Total
		£	£
	Cost
	At 1 April 2025	791,646	791,646




	At 31 March 2026	791,646	791,646
	Depreciation






	Net book values
	At 31 March 2026	791,646	791,646
	At 31 March 2025	791,646	791,646

5	Debtors
		2026	2025
		£	£
	Trade debtors	-	10,560




	Prepayments and accrued income	9,228	6,242
		9,228	16,802

6	Creditors:
	amounts falling due within one year
		2026	2025
		£	£
	Bank loans and overdrafts	-	20,455




	Other taxes and social security	1,534	1,843

	Accruals and deferred income	11,949	1,449
		13,483	23,747

7	Loans and other debts due to members
		2026	2025
		£	£

	Loans from members	387,008	364,154

	Amounts due to members in respect of profits	30,305	32,854
		417,313	397,008

	Amounts falling due within one year	417,313	-

		417,313	397,008