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REGISTERED NUMBER: OC384160 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

HPC Properties LLP

HPC Properties LLP (Registered number: OC384160)






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




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

HPC Properties LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: C H Jacobs
Mrs C L Jacobs
Ceejay Investment Properties Limited





REGISTERED OFFICE: Castle Mills
Saddleworth Road
Elland
West Yorkshire
HX5 0RY





REGISTERED NUMBER: OC384160 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

HPC Properties LLP (Registered number: OC384160)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 568 668
Investment property 6 1,685,527 1,680,067
1,686,095 1,680,735

CURRENT ASSETS
Cash at bank 63,929 125,226

CREDITORS
Amounts falling due within one year 7 (1,800 ) (1,680 )
NET CURRENT ASSETS 62,129 123,546
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,748,224

1,804,281

CREDITORS
Amounts falling due after more than one
year

8

(76,455

)

(278,303

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,671,769

1,525,978

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

1,671,769

1,525,978

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 1,671,769 1,525,978

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.

HPC Properties LLP (Registered number: OC384160)

Statement of Financial Position - continued
31 March 2023


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 2 November 2023 and were signed by:





C H Jacobs - Designated member

HPC Properties LLP (Registered number: OC384160)

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

1. STATUTORY INFORMATION

HPC 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises revenue recognised by the LLP in respect of property rentals.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS102. A members' participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.

4. EMPLOYEE INFORMATION

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

HPC Properties LLP (Registered number: OC384160)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 2,885
DEPRECIATION
At 1 April 2022 2,217
Charge for year 100
At 31 March 2023 2,317
NET BOOK VALUE
At 31 March 2023 568
At 31 March 2022 668

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,680,067
Additions 130,460
Disposals (125,000 )
At 31 March 2023 1,685,527
NET BOOK VALUE
At 31 March 2023 1,685,527
At 31 March 2022 1,680,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 1,800 1,680

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 76,455 278,303

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 76,455 278,303

HPC Properties LLP (Registered number: OC384160)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 76,455 278,303

Loans are interest only. The repayment terms are 25 years. The interest rates are variable.

The loans are in the name of C H Jacobs, a designated member of the LLP. The mortgager has legal mortgages on the residual investment properties, fixed charges over rents and other income receivable in respect of property leases and floating charges on C H Jacobs' personal assets.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Third party creditors will take priority over amounts due to members.

Chartered Accountants' Report to the Members
on the Unaudited Financial Statements of
HPC Properties 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 Statement of Financial Position. 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 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 HPC Properties LLP for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Reconciliation of Members' Interests 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 HPC 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 HPC Properties LLP and state those matters that we have agreed to state to the members of HPC 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 HPC Properties LLP and its members, as a body, for our work or for this report.

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






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


2 November 2023