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REGISTERED NUMBER: OC426271 (England and Wales)







REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

LONDON PRIME ESTATES LLP

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

General Information 1

Report of the Members 2

Income Statement 3

Statement of Financial Position 4

Notes to the Financial Statements 6


LONDON PRIME ESTATES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DESIGNATED MEMBERS: Mr H W Boy
Mrs H C Boy
London Prime Residences Limited





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: OC426271 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2023


The members present their report with the financial statements of the LLP for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property investments

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr H W Boy
Mrs H C Boy
London Prime Residences Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £35,643 (2022 - £28,725 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:





Mrs H C Boy - Designated member


10 July 2023

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 339,293 334,059

Administrative expenses 148,876 144,916
OPERATING PROFIT 190,417 189,143


Interest payable and similar expenses 4 154,774 160,418
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




35,643




28,725

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 10,175,000 10,175,000

CURRENT ASSETS
Debtors 6 82,494 12,577
Cash at bank 107,085 141,330
189,579 153,907
CREDITORS
Amounts falling due within one year 7 61,279 27,350
NET CURRENT ASSETS 128,300 126,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,303,300

10,301,557

CREDITORS
Amounts falling due after more than one
year

8

6,367,738

6,367,738
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,935,562

3,933,819

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

3,935,562

3,933,819

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 3,935,562 3,933,819
Amounts due from members 6 (42,494 ) (12,577 )
3,893,068 3,921,242

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 2023.

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.

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 10 July 2023 and were signed by:





Mrs H C Boy - Designated member

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

London Prime 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.

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

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - 2 ).

4. INTEREST PAYABLE AND SIMILAR EXPENSES
31.3.23 31.3.22
£    £   
Loan interest and financial arrangement fees 154,774 160,418

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 10,175,000
NET BOOK VALUE
At 31 March 2023 10,175,000
At 31 March 2022 10,175,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Amounts due from members 42,494 12,577
Prepayments 40,000 -
82,494 12,577

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 44,479 10,550
Rents prepaid 12,000 12,000
Accrued expenses 4,800 4,800
61,279 27,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 9) 6,367,738 6,367,738

9. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 6,367,738 6,367,738

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 6,367,738 6,367,738

The bank loans are secured on the LLP's properties and repayable in three years.

11. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 14,554 12,811
Capital account 3,921,008 3,921,008
3,935,562 3,933,819

Falling due within one year 3,935,562 3,933,819

Amount due to members.