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REGISTERED NUMBER: OC439081 (England and Wales)










FINANCIAL STATEMENTS

FOR THE PERIOD

9 SEPTEMBER 2021 TO 30 SEPTEMBER 2022

FOR

PAPAPETROU PROPERTIES LLP

PAPAPETROU PROPERTIES LLP (REGISTERED NUMBER: OC439081)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 9 SEPTEMBER 2021 TO 30 SEPTEMBER 2022




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PAPAPETROU PROPERTIES LLP

GENERAL INFORMATION
FOR THE PERIOD 9 SEPTEMBER 2021 TO 30 SEPTEMBER 2022







DESIGNATED MEMBERS: Z Papapetrou
P Papapetrou





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: OC439081 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

PAPAPETROU PROPERTIES LLP (REGISTERED NUMBER: OC439081)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2022

Notes £    £   
FIXED ASSETS
Investment property 4 8,412,844

CURRENT ASSETS
Debtors 5 300,706
Investments 6 305,817
Cash at bank 545,151
1,151,674
CREDITORS
Amounts falling due within one year 7 43,307
NET CURRENT ASSETS 1,108,367
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,521,211

CREDITORS
Amounts falling due after more than one year 8 4,433,250
NET ASSETS ATTRIBUTABLE TO MEMBERS 5,087,961

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

59,298

MEMBERS' OTHER INTERESTS
Capital accounts 5,028,663
5,087,961

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 59,298
Members' other interests 5,028,663
5,087,961

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 period ended 30 September 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.

PAPAPETROU PROPERTIES LLP (REGISTERED NUMBER: OC439081)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2022


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 3 October 2023 and were signed by:





Z Papapetrou - Designated member

PAPAPETROU PROPERTIES LLP (REGISTERED NUMBER: OC439081)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 9 SEPTEMBER 2021 TO 30 SEPTEMBER 2022

1. STATUTORY INFORMATION

Papapetrou 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 represents net rent receivable.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would no give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 8,412,844
At 30 September 2022 8,412,844
NET BOOK VALUE
At 30 September 2022 8,412,844

Fair value at 30 September 2022 is represented by:
£   
Valuation in 2022 8,412,844

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 300,706

6. CURRENT ASSET INVESTMENTS
£   
Unlisted investments 305,817

PAPAPETROU PROPERTIES LLP (REGISTERED NUMBER: OC439081)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 9 SEPTEMBER 2021 TO 30 SEPTEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 218
Other creditors 43,089
43,307

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 4,433,250

9. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 4,433,250

The bank loans are secured by way of fixed and floating legal charge on the investment properties of the LLP.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other creditors on a winding up.