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REGISTERED NUMBER: OC332059 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

HASTINGS PROPERTY COMPANY LLP

HASTINGS PROPERTY COMPANY LLP (REGISTERED NUMBER: OC332059)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

HASTINGS PROPERTY COMPANY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2018







DESIGNATED MEMBERS: P Stavri
L Stavri





REGISTERED OFFICE: 20 Havelock Road
HASTINGS
East Sussex
TN34 1BP





REGISTERED NUMBER: OC332059 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

HASTINGS PROPERTY COMPANY LLP (REGISTERED NUMBER: OC332059)

BALANCE SHEET
31 MARCH 2018

31.3.18 31.3.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,731 2,081
Investment property 5 6,113,147 6,113,147
6,114,878 6,115,228

CURRENT ASSETS
Stocks 912,730 -
Debtors 6 8,542 14,528
Cash at bank 35,978 68,073
957,250 82,601
CREDITORS
Amounts falling due within one year 7 154,590 121,973
NET CURRENT ASSETS/(LIABILITIES) 802,660 (39,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,917,538

6,075,856

CREDITORS
Amounts falling due after more than one
year

8

2,347,079

2,367,591
NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,570,459

3,708,265

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

4,570,459

3,708,265

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 4,570,459 3,708,265

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 2018.

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.

HASTINGS PROPERTY COMPANY LLP (REGISTERED NUMBER: OC332059)

BALANCE SHEET - continued
31 MARCH 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 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 small LLPs.

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 on 12 November 2018 and were signed by:




L Stavri - Designated member




P Stavri - Designated member


HASTINGS PROPERTY COMPANY LLP (REGISTERED NUMBER: OC332059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018

1. STATUTORY INFORMATION

Hastings Property Company 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 date of transition was 1 April 2016.

The members have made an assessment about the ability to continue as a going concern and they do not
consider there to be any material uncertainties. As a result they have adopted the going concern basis of
accounting.

Turnover
Turnover represents rent receivable excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

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.

Capital subscription and repayment
The capital requirements of the partnership are determined from time to time by the Designated Members. The
amount of capital subscribed by each member is linked to the earnings allocated to that member. No interest is
paid on capital.

Profit allocation
The allocation of profits to those who were members during the year is made by unanimous vote of the
Designated Members.

During the year members draw sums as agreed by the Designated Members, taking into account the partnership's
cash requirements for operating and investing activities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2017 - NIL).

HASTINGS PROPERTY COMPANY LLP (REGISTERED NUMBER: OC332059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2017
and 31 March 2018 6,138 6,233 1,204 13,575
DEPRECIATION
At 1 April 2017 5,393 4,897 1,204 11,494
Charge for year 149 201 - 350
At 31 March 2018 5,542 5,098 1,204 11,844
NET BOOK VALUE
At 31 March 2018 596 1,135 - 1,731
At 31 March 2017 745 1,336 - 2,081

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2017
and 31 March 2018 6,113,147
NET BOOK VALUE
At 31 March 2018 6,113,147
At 31 March 2017 6,113,147

Fair value at 31 March 2018 is represented by:

£   
Valuation in 2009 57,418
Valuation in 2010 427,019
Valuation in 2012 115,971
Valuation in 2017 1,605,749
Cost 3,906,990
6,113,147

If Investment Property had not been revalued it would have been included at the following historical cost:

31.3.18 31.3.17
£    £   
Cost 3,906,990 3,906,990

Investment property was valued on an open market basis on 31 March 2017 by the designated members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Trade debtors 8,192 3,028
Other debtors 350 11,500
8,542 14,528

HASTINGS PROPERTY COMPANY LLP (REGISTERED NUMBER: OC332059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans and overdrafts 100,995 101,463
Trade creditors 42,381 2,926
Other creditors 11,214 17,584
154,590 121,973

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.18 31.3.17
£    £   
Bank loans 2,347,079 2,367,591

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,438,288 1,505,557

Repayable by instalments
Bank loans more 5 yr by instal 504,812 456,182

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.18 31.3.17
£    £   
Bank loans 2,448,074 2,469,054

Loans are mortgages secured on individual properties held in Investment Property. The market value of
properties held as security amounts to £6,113,147.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

The amounts shown in 'Loans and other debts due to member's' would rank after other unsecured creditors in the
event of a winding up.

11. RELATED PARTY DISCLOSURES

There are no terms attached to the member loan accounts for the year.

ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HASTINGS PROPERTY COMPANY LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual
unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to
file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement we have compiled the attached financial statements from the accounting
records, information and explanations you have given to us.

The financial statements have been compiled using the going concern and historical cost basis. It is not intended to
achieve full compliance with the provisions of UK Generally Accepted Accounting Principles.

This report is made to you, in accordance with the terms of our engagement. Our work has been undertaken so that we
might compile the financial statements that we have been engaged to compile, report to you that we have done so, and
state those matters that we have agreed to state to you in this report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the person to whom this report is
addressed for our work or for this report.

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered
Accountants in England & Wales and have complied with the ethical guidance laid down by the Institute.

You have approved the financial statements for the period described above, and have acknowledged your responsibility
for them, for the appropriateness of the accounting basis and for providing all information and explanations necessary for
their compilation.

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 financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


12 November 2018