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REGISTERED NUMBER: OC353081 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

ALGAN PROPERTY LLP

ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


ALGAN PROPERTY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DESIGNATED MEMBERS: G Cherry
K R J Grassby





REGISTERED OFFICE: 16-18 Kennet Road
Dartford
Kent
DA1 4QN





REGISTERED NUMBER: OC353081 (England and Wales)





ACCOUNTANTS: Blue Rocket Accounting
Accountants and Tax Advisers
8 Twisleton Court
Priory Hill
Dartford
Kent
DA1 2EN

ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 30 APRIL 2023

The members present their report with the financial statements of the LLP for the year ended 30 April 2023.

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

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

G Cherry
K R J Grassby

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £44,195 (2022 - £119,797 profit).

MEMBERS' INTERESTS
Each members subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.

ON BEHALF OF THE MEMBERS:





G Cherry - Designated member


31 October 2023

ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)

INCOME STATEMENT
FOR THE YEAR ENDED 30 APRIL 2023

30.4.23 30.4.22
Notes £    £   

TURNOVER - 820,000

Cost of sales - (739,441 )
GROSS PROFIT - 80,559

Administrative expenses (11,288 ) (9,924 )
(11,288 ) 70,635

Other operating income 55,483 49,162
OPERATING PROFIT and
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES


44,195


119,797

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


44,195


119,797

Members' remuneration charged as an
expense

5

(44,195

)

(119,797

)
PROFIT FOR THE FINANCIAL YEAR
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS


-


-

ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 6 301,390 309,117
Investments 7 10,000 10,000
Investment property 8 267,510 267,510
578,900 586,627

CURRENT ASSETS
Debtors 9 8,010 8,010
Cash at bank 268,635 461,954
276,645 469,964
CREDITORS
Amounts falling due within one year 10 (6,499 ) (6,554 )
NET CURRENT ASSETS 270,146 463,410
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

849,046

1,050,037

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

536,846

737,837

MEMBERS' OTHER INTERESTS
Capital accounts 312,200 312,200
849,046 1,050,037

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 11 536,846 737,837
Members' other interests 312,200 312,200
849,046 1,050,037

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 30 April 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.

ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)

BALANCE SHEET - continued
30 APRIL 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 31 October 2023 and were signed by:




G Cherry - Designated member




K R J Grassby - Designated member


ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Algan Property 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 - NIL).

4. OPERATING PROFIT

The operating profit is stated after charging:

30.4.23 30.4.22
£    £   
Depreciation - owned assets 7,727 7,727

5. INFORMATION IN RELATION TO MEMBERS
30.4.23 30.4.22
£    £   
Members' remuneration charged as an expense
Partners' salaries 44,195 119,797

6. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 May 2022
and 30 April 2023 386,330
DEPRECIATION
At 1 May 2022 77,213
Charge for year 7,727
At 30 April 2023 84,940
NET BOOK VALUE
At 30 April 2023 301,390
At 30 April 2022 309,117

ALGAN PROPERTY LLP (REGISTERED NUMBER: OC353081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2022
and 30 April 2023 10,000
NET BOOK VALUE
At 30 April 2023 10,000
At 30 April 2022 10,000

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 267,510
NET BOOK VALUE
At 30 April 2023 267,510
At 30 April 2022 267,510

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 8,010 8,010

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other creditors 6,499 6,554

11. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of winding up.

12. RELATED PARTY DISCLOSURES

As at 30April 2023 the amount owed by Sealtite Windows Limited, a company in which the designated members are directors, was £8,010 (2022: £8,010).