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REGISTERED NUMBER: OC395618 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRINCIPAL ESTATES LLP

PRINCIPAL ESTATES LLP (REGISTERED NUMBER: OC395618)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PRINCIPAL ESTATES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mrs A Rodda
A J Rodda





REGISTERED OFFICE: Ground Floor
Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS





REGISTERED NUMBER: OC395618 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

PRINCIPAL ESTATES LLP (REGISTERED NUMBER: OC395618)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 283,456 283,456

CURRENT ASSETS
Cash at bank 14,819 6,964

CREDITORS
Amounts falling due within one year 5 (1,201 ) (1,200 )
NET CURRENT ASSETS 13,618 5,764
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 297,074 289,220

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

47,674

39,820

MEMBERS' OTHER INTERESTS
Capital accounts 249,400 249,400
297,074 289,220

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 47,674 39,820
Members' other interests 249,400 249,400
297,074 289,220

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 2024.

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.

PRINCIPAL ESTATES LLP (REGISTERED NUMBER: OC395618)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 27 July 2024 and were signed by:




A J Rodda - Designated member




Mrs A Rodda - Designated member


PRINCIPAL ESTATES LLP (REGISTERED NUMBER: OC395618)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Principal Estates 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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 283,456
NET BOOK VALUE
At 31 March 2024 283,456
At 31 March 2023 283,456

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued expenses 1,201 1,200

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests also rank pari passu with unsecured creditors.