Pure Developments (UK) LLP - LLP accounts 22.3

REGISTERED NUMBER: OC339400 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

PURE DEVELOPMENTS (UK) LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Profit and loss account

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

Lord G R Ward

Mr A Dama

REGISTERED OFFICE:

15-16 Eaton Court Road

St Neots

Cambridgeshire

PE19 8ER

REGISTERED NUMBER:

OC339400 (England and Wales)

ACCOUNTANTS:

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

The members present their report with the financial statements of the LLP for the year ended 31 March 2022.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property letting.

DESIGNATED MEMBERS

The designated members during the year under review were:

Lord G R Ward

Mr A Dama

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £150,091 (2021 - £427,681 profit).

MEMBERS' INTERESTS

Each member is required to subscribe a proportion of this capital, known as the Members Capital as stated in the

members agreement.

MEMBERS’ PROFIT SHARES

Members are remunerated solely out of the profits of the group and are required to make their own provision for

pensions and other benefits. Profits are allocated and divided between members periodically during and after the

end of the year in accordance with the Members Agreement.

ON BEHALF OF THE MEMBERS:

Lord G R Ward - Designated member

20 December 2022

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Pure Developments (UK) LLP for the year ended 31 March 2022 which comprise the Profit and loss account, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Pure Developments (UK) LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pure Developments (UK) LLP and state those matters that we have agreed to state to the members of Pure Developments (UK) LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pure Developments (UK) LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Pure Developments (UK) LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pure Developments (UK) LLP. You consider that Pure Developments (UK) LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pure Developments (UK) LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Thompson Taraz Rand Ltd

Chartered Accountants

10 Jesus Lane

Cambridge

Cambridgeshire

CB5 8BA

20 December 2022

TURNOVER

14,400

8,400

Administrative expenses

(4,309

)

(3,124

)

10,091

5,276

Gain/loss on revaluation of investment property

140,000

422,405

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES

150,091

427,681

FIXED ASSETS

Investment property

4

1,400,000

1,260,000

CURRENT ASSETS

Cash at bank

44,205

34,274

CREDITORS

Amounts falling due within one year

5

(1,800

)

(1,960

)

NET CURRENT ASSETS

42,405

32,314

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,442,405

1,292,314

LOANS AND OTHER DEBTS DUE TO MEMBERS

588,168

438,077

MEMBERS' OTHER INTERESTS

Capital accounts

854,237

854,237

1,442,405

1,292,314

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

588,168

438,077

Members' other interests

854,237

854,237

1,442,405

1,292,314

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 2022.

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 20 December 2022 and were signed by:

Lord G R Ward - Designated member

1.	STATUTORY INFORMATION

Pure Developments (UK) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rents receivable excluding Value Added Tax.

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Investment properties were valued at their fair value by Lord G R Ward, a member of the LLP. Although

Lord G R Ward is not a professionally qualified valuer he does have considerable experience in the location and class of investment property being revalued.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2021 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2021

1,260,000

Revaluations

140,000

At 31 March 2022

1,400,000

NET BOOK VALUE

At 31 March 2022

1,400,000

At 31 March 2021

1,260,000

Fair value at 31 March 2022 is represented by:

£

Valuation in 2021

422,405

Valuation in 2022

140,000

Cost

837,595

1,400,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

1,800

1,960