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REGISTERED NUMBER: OC396762 (England and Wales)













REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PANORAMA PROPERTY INVESTMENTS LLP

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

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










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


PANORAMA PROPERTY INVESTMENTS LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 March 2023







DESIGNATED MEMBERS: J Agace
N Timberlake
E Jones Trustee
S Marks Trustee





REGISTERED OFFICE: The Offices
19-21 West Street
Haslemere
GU27 2AB





REGISTERED NUMBER: OC396762 (England and Wales)





ACCOUNTANTS: Traviss & Co Ltd
Chartered Certified Accountants
Newtown House
38 Newtown Road
Liphook
Hampshire
GU30 7DX

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

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 and hotel accommodation

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

J Agace
N Timberlake
E Jones Trustee
S Marks Trustee

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £433,422 (2022 - £342,245 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.

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 monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

The designated members keep details for each members profit share, current account balances and loans to members, for the purposes of the accounts these have been shown as the totals only.

ON BEHALF OF THE MEMBERS:





N Timberlake - Designated member


23 November 2023

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

INCOME STATEMENT
FOR THE YEAR ENDED 31 March 2023

2023 2022
Notes £    £   

TURNOVER 1,525,428 1,102,447

Cost of sales 668,568 511,898
GROSS PROFIT 856,860 590,549

Administrative expenses 7,316 10,411
OPERATING PROFIT 4 849,544 580,138


Interest payable and similar expenses 416,122 237,893
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




433,422




342,245

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 10,850,648 10,966,080
Investment property 6 6,065,000 6,065,000
16,915,648 17,031,080

CURRENT ASSETS
Debtors 7 809,985 1,020,099
Cash at bank 62,748 305,573
872,733 1,325,672
CREDITORS
Amounts falling due within one year 8 115,896 353,057
NET CURRENT ASSETS 756,837 972,615
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,672,485

18,003,695

CREDITORS
Amounts falling due after more than one
year

9

8,606,875

8,831,875
NET ASSETS ATTRIBUTABLE TO
MEMBERS

9,065,610

9,171,820

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

BALANCE SHEET - continued
31 March 2023

2023 2022
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

-

331,210

MEMBERS' OTHER INTERESTS
Capital accounts 8,077,640 7,852,640
Revaluation reserve 11 987,970 987,970
9,065,610 9,171,820

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 - 331,210
Members' other interests 9,065,610 8,840,610
Amounts due from members 7 (654,155 ) (792,457 )
8,411,455 8,379,363

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.

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 23 November 2023 and were signed by:





N Timberlake - Designated member

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

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


1. STATUTORY INFORMATION

Panorama Property Investments 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 represents rent receivable.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the LLP), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - in accordance with the property
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

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.

Investment property is carried at fair value determined annually by the designated members and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

The designated members have considered any change to the valuation from that in the previous year and are satisfied the current valuation to still be the fair value £6,065,000 (2022 - £6,065,000).

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:

2023 2022
£    £   
Depreciation - owned assets 115,432 84,070

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022
and 31 March 2023 11,543,244 187,431 20,814 11,751,489
DEPRECIATION
At 1 April 2022 577,164 187,431 20,814 785,409
Charge for year 115,432 - - 115,432
At 31 March 2023 692,596 187,431 20,814 900,841
NET BOOK VALUE
At 31 March 2023 10,850,648 - - 10,850,648
At 31 March 2022 10,966,080 - - 10,966,080

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 6,065,000
NET BOOK VALUE
At 31 March 2023 6,065,000
At 31 March 2022 6,065,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 120,711 166,076
Other debtors 689,274 854,023
809,985 1,020,099

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 18,966 48,371
Taxation and social security 16,157 5,370
Other creditors 80,773 299,316
115,896 353,057

PANORAMA PROPERTY INVESTMENTS LLP (REGISTERED NUMBER: OC396762)

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


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 8,606,875 8,831,875

10. 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 a winding up.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 987,970