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REGISTERED NUMBER: OC435854 (England and Wales)










Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Arayn K Properties LLP

Arayn K Properties LLP (Registered number: OC435854)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Report of the Members 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 7


Arayn K Properties LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: K Patel
Arayn T Properties Limited





REGISTERED OFFICE: 2 Garside Close
Hampton
TW12 3AN





REGISTERED NUMBER: OC435854 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Arayn K Properties LLP (Registered number: OC435854)

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 rental properties.

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

K Patel
Arayn T Properties Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £369,565 (2022 - £27,060 profit).

MEMBERS' INTERESTS
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or retirement. Only those members who have contribute capital to the LLP are allocated losses, if the LLP declares a loss in a period.

ON BEHALF OF THE MEMBERS:





K Patel - Designated member


2 November 2023

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
Arayn K Properties LLP


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 Arayn K Properties LLP for the year ended 31 March 2023 which comprise the Income Statement, 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 Arayn K Properties 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 Arayn K Properties LLP and state those matters that we have agreed to state to the members of Arayn K Properties 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 Arayn K Properties LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Arayn K Properties 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 Arayn K Properties LLP. You consider that Arayn K Properties 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 Arayn K Properties 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.






SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS


2 November 2023

Arayn K Properties LLP (Registered number: OC435854)

Income Statement
for the Year Ended 31 March 2023

Period
2.3.21
Year ended to
31.3.23 31.3.22
£    £   

TURNOVER 61,580 63,626

Administrative expenses (21,668 ) (29,742 )
OPERATING PROFIT 39,912 33,884

Gain/loss on revaluation of investment
property

367,000

20,000
406,912 53,884

Interest payable and similar expenses (37,347 ) (26,824 )
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




369,565




27,060

Arayn K Properties LLP (Registered number: OC435854)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,782,000 1,415,000

CREDITORS
Amounts falling due within one year 5 (960 ) (1,500 )
NET CURRENT LIABILITIES (960 ) (1,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,781,040

1,413,500

CREDITORS
Amounts falling due after more than one year 6 (1,068,147 ) (1,068,147 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

712,893

345,353

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

712,893

345,353

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 712,893 345,353

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.

Arayn K Properties LLP (Registered number: OC435854)

Balance Sheet - 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 2 November 2023 and were signed by:





K Patel - Designated member

Arayn K Properties LLP (Registered number: OC435854)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Arayn K Properties 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.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,415,000
Revaluations 367,000
At 31 March 2023 1,782,000
NET BOOK VALUE
At 31 March 2023 1,782,000
At 31 March 2022 1,415,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 20,000
Valuation in 2023 367,000
Cost 1,395,000
1,782,000

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties.

Arayn K Properties LLP (Registered number: OC435854)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Accrued expenses 960 1,500

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 7) 1,068,147 1,068,147

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 1,068,147 1,068,147

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgages 1,068,147 1,068,147

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 1,068,147 1,068,147

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 712,893 345,353

Falling due within one year 712,893 345,353

Members rank ahead of other creditors in a liquidation.