NANDV Estates LLP - Accounts to registrar (filleted) - small 18.2

NANDV Estates LLP - Accounts to registrar (filleted) - small 18.2

NANDV ESTATES LLP - Company Information

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REGISTERED NUMBER: OC368800 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

NANDV Estates LLP
NANDV Estates LLP (Registered number: OC368800)

Contents of the Financial Statements
for the Year Ended 31 March 2022










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NANDV Estates LLP

General Information
for the Year Ended 31 March 2022







DESIGNATED MEMBERS: Veranding Limited
Veranding Management LLP





REGISTERED OFFICE: Hammingden Place
Hammingden Lane
Ardingly
Haywards Heath
West Sussex
RH17 6SR





REGISTERED NUMBER: OC368800 (England and Wales)





ACCOUNTANTS: Byrne & Company
Chartered Accountant
Suite 1532
26 Upper Pembroke Street
Dublin 2
IRELAND
D02 X361
Page 1
NANDV Estates LLP (Registered number: OC368800)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,633 37,742

CURRENT ASSETS
Stocks 5 452,478 418,057
Debtors 6 3,395 2,792
Cash at bank 120,143 24,561
576,016 445,410
CREDITORS
Amounts falling due within one year 7 307 307
NET CURRENT ASSETS 575,709 445,103
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 610,342 482,845

LOANS AND OTHER DEBTS DUE TO MEMBERS 8 - 471,845

MEMBERS' OTHER INTERESTS
Capital accounts 610,342 11,000
610,342 482,845

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 - 471,845
Members' other interests 610,342 11,000
610,342 482,845

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 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 30 March 2023 and were signed by:





Veranding Limited - Designated member

The notes form part of these financial statements

Page 2
NANDV Estates LLP (Registered number: OC368800)

Notes to the Financial Statements
for the Year Ended 31 March 2022


1. STATUTORY INFORMATION

NANDV Estates 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.

Significant judgements and estimates
The members consider the accounting estimates and assumptions below to be its critical accounting estimates and judgements:

Going Concern
The members have prepared budgets and cash flows for a period of at least twelve months from the date of the approval of the financial statements which demonstrate that there is no material uncertainty regarding the company's ability to meet its liabilities as they fall due, and to continue as a going concern. On this basis the members consider it appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial statements do not include any adjustments to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern.

Impairment of Trade Debtors
The LLP trades with a varied number of customers on credit terms. Some debts due many not be paid through the default of a small number of customers. The LLP uses estimates based on historical experience and current information in determining the level of debts for which an impairment charge is required. The level of impairment required is reviewed on an ongoing basis. The total amount of trade debtors is €NIL (2021: €NIL).

Useful Lives of Tangible and Intangible Fixed Assets
Long-lived assets comprising primarily of fixtures and fittings, plant and machinery and motor vehicles represent a significant portion of total assets. The annual depreciation and amortisation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of residual values. The members regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider technological change, patterns of consumption, physical condition and expected economic utilisation of the assets. Changes in the useful lives can have a significant impact on the depreciation and amortisation charge for the financial year. The net book value of Tangible Fixed Assets subject to depreciation at the financial year end date was €34,633 (2021: €37,742).

Turnover
Turnover represents the net invoiced amounts in respect of sales of goods and services, excluding Value Added Tax, and ancillary subvention income in respect of the farming activity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - at varying rates on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Page 3 continued...
NANDV Estates LLP (Registered number: OC368800)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents

Cash consists of cash on hand and demand deposits. Cash equivalents consist of short term highly liquid investments that are readily convertible to known amounts of cash that are subject to an insignificant risk of change in value.

Other financial assets

Other financial assets including trade debtors for goods or services sold to customers on short-term credit, are initially measured at the undiscounted amount of cash receivable from that customer, which is normally the invoice price, and are subsequently measured at amortised cost less impairment, where there is objective evidence of an impairment.

Loans and borrowings

All loans and borrowings, both assets and liabilities are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one year or on demand are not amortised. Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date.

Other financial liabilities

Trade creditors are measured at invoice price, unless payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. In this case the arrangement constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2021 104,618
Additions 8,347
At 31 March 2022 112,965
DEPRECIATION
At 1 April 2021 66,876
Charge for year 11,456
At 31 March 2022 78,332
NET BOOK VALUE
At 31 March 2022 34,633
At 31 March 2021 37,742

5. STOCKS
2022 2021
£    £   
Work-in-progress 452,478 418,057

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
VAT 3,395 2,792

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Accrued expenses 307 307

Page 4 continued...
NANDV Estates LLP (Registered number: OC368800)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022


8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members (other than members' capital classified as debt) rank pari passu with other creditors, except for secured creditors.

9. ULTIMATE CONTROLLING PARTY

In the opinion of the members, the limited liability partnership was controlled by N Williams and V Williams.

Page 5