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REGISTERED NUMBER: OC425878 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2023

for

Branch Property Partnership LLP

Branch Property Partnership LLP (Registered number: OC425878)






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




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Branch Property Partnership LLP

General Information
for the Year Ended 31st March 2023







DESIGNATED MEMBERS: Branch Property Holdings Ltd
Ms S Tointon





REGISTERED OFFICE: C/O OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Billingham
TS23 4EA





REGISTERED NUMBER: OC425878 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Branch Property Partnership LLP (Registered number: OC425878)

Report of the Members
for the Year Ended 31st March 2023

The members present their report with the financial statements of the LLP for the year ended 31st March 2023.

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

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

Branch Property Holdings Ltd
Ms S Tointon

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £143,486 (2022 - £477,640 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 contributed capital to the LLP are allocated losses, if the LLP declares a loss in a period.

ON BEHALF OF THE MEMBERS:





Ms S Tointon - Designated member


6th March 2024

Branch Property Partnership LLP (Registered number: OC425878)

Income Statement
for the Year Ended 31st March 2023

2023 2022
£    £   

TURNOVER 164,253 142,779

Administrative expenses (41,532 ) (41,698 )
122,721 101,081

Other operating income - 420,000
Gain/loss on revaluation of assets (205,000 ) -
OPERATING (LOSS)/PROFIT (82,279 ) 521,081

Interest receivable and similar income 238 -
(82,041 ) 521,081

Interest payable and similar expenses (61,445 ) (43,441 )
(LOSS)/PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION AND
PROFIT SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS




(143,486




)




477,640

Branch Property Partnership LLP (Registered number: OC425878)

Balance Sheet
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,030,548 4,027,082

CURRENT ASSETS
Cash at bank 147,425 124,306

CREDITORS
Amounts falling due within one year 5 (10,000 ) (8,644 )
NET CURRENT ASSETS 137,425 115,662
TOTAL ASSETS LESS CURRENT LIABILITIES 4,167,973 4,142,744

CREDITORS
Amounts falling due after more than one
year

6

(1,872,662

)

(1,787,961

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,295,311 2,354,783

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

2,295,311

2,354,783

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 2,295,311 2,354,783

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 31st 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.

Branch Property Partnership LLP (Registered number: OC425878)

Balance Sheet - continued
31st 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 6th March 2024 and were signed by:





Ms S Tointon - Designated member

Branch Property Partnership LLP (Registered number: OC425878)

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

1. STATUTORY INFORMATION

Branch Property Partnership 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1st April 2022 4,027,082
Additions 208,466
Revaluations (205,000 )
At 31st March 2023 4,030,548
NET BOOK VALUE
At 31st March 2023 4,030,548
At 31st March 2022 4,027,082

Cost or valuation at 31st March 2023 is represented by:

Land and
buildings
£   
Valuation in 2021 405,000
Valuation in 2022 420,000
Valuation in 2023 (205,000 )
Cost 3,410,548
4,030,548

Branch Property Partnership LLP (Registered number: OC425878)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 8,644
Other creditors 10,000 -
10,000 8,644

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 1,872,662 1,787,961

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 1,872,662 1,787,961

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.