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REGISTERED NUMBER: OC417449 (England and Wales)










Financial Statements

for the Period 1 April 2022 to 29 March 2023

for

Albion Property Group LLP

Albion Property Group LLP (Registered number: OC417449)






Contents of the Financial Statements
for the Period 1 April 2022 to 29 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Albion Property Group LLP

General Information
for the Period 1 April 2022 to 29 March 2023







DESIGNATED MEMBERS: S Parrott
Amesbridge Limited





REGISTERED OFFICE: 46 Coatham Road
Redcar
TS10 1RS





REGISTERED NUMBER: OC417449 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Albion Property Group LLP (Registered number: OC417449)

Balance Sheet
29 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,397 7,427
Investment property 5 11,701,789 13,287,400
11,704,186 13,294,827

CURRENT ASSETS
Debtors 6 27,527 28,526
Cash at bank and in hand 15,159 201,585
42,686 230,111
CREDITORS
Amounts falling due within one year 7 (82,221 ) (77,936 )
NET CURRENT (LIABILITIES)/ASSETS (39,535 ) 152,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,664,651

13,447,002

CREDITORS
Amounts falling due after more than one year 8 (4,285,285 ) (4,725,233 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

7,379,366

8,721,769

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

7,379,366

8,721,769

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 7,379,366 8,721,769

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 29 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.

Albion Property Group LLP (Registered number: OC417449)

Balance Sheet - continued
29 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 29 March 2024 and were signed by:





S Parrott - Designated member

Albion Property Group LLP (Registered number: OC417449)

Notes to the Financial Statements
for the Period 1 April 2022 to 29 March 2023

1. STATUTORY INFORMATION

Albion Property Group 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.
Plant and machinery etc - 33% on reducing balance and 25% 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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 (2022 - 2 ) .

Albion Property Group LLP (Registered number: OC417449)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 29 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 5,593 8,290 13,883
Disposals - (5,280 ) (5,280 )
At 29 March 2023 5,593 3,010 8,603
DEPRECIATION
At 1 April 2022 3,376 3,080 6,456
Charge for period 555 368 923
Eliminated on disposal - (1,173 ) (1,173 )
At 29 March 2023 3,931 2,275 6,206
NET BOOK VALUE
At 29 March 2023 1,662 735 2,397
At 31 March 2022 2,217 5,210 7,427

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 13,287,400
Additions 137,851
Disposals (1,723,462 )
At 29 March 2023 11,701,789
NET BOOK VALUE
At 29 March 2023 11,701,789
At 31 March 2022 13,287,400

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,402 13,305
Other debtors 3,949 3,949
Provision for doubtful account 9,672 9,672
Prepayments 1,504 1,600
27,527 28,526

Albion Property Group LLP (Registered number: OC417449)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 29 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,758 11,545
Trade creditors 1,659 9,421
Provision for doubtful debts 10,000 10,000
Social security and other taxes 6,239 4,032
Pension - (132 )
Due from Prosico - 2,783
Due to Greatlets 27,247 16,862
Wages Control Account 24,529 19,664
Accrued expenses 1,789 3,761
82,221 77,936

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 71,752 81,593
Mortgages 4,213,533 4,643,640
4,285,285 4,725,233

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 4,213,533 4,643,640

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.