IRIS Accounts Production v24.1.0.576 OC388657 designated member 1.11.22 31.10.23 31.10.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3886572022-10-31OC3886572023-10-31OC3886572022-11-012023-10-31OC3886572021-10-31OC3886572021-11-012022-10-31OC3886572022-10-31OC388657ns15:EnglandWales2022-11-012023-10-31OC388657ns14:PoundSterling2022-11-012023-10-31OC388657ns10:Director12022-11-012023-10-31OC388657ns10:LimitedLiabilityPartnershipLLP2022-11-012023-10-31OC388657ns10:SmallEntities2022-11-012023-10-31OC388657ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31OC388657ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31OC388657ns10:LimitedLiabilityPartnershipsSORP2022-11-012023-10-31OC388657ns10:FullAccounts2022-11-012023-10-31OC388657ns10:Director22022-11-012023-10-31OC388657ns10:RegisteredOffice2022-11-012023-10-31OC388657ns5:CurrentFinancialInstruments2023-10-31OC388657ns5:CurrentFinancialInstruments2022-10-31OC388657ns5:Non-currentFinancialInstruments2023-10-31OC388657ns5:Non-currentFinancialInstruments2022-10-31OC388657ns5:RevaluationReserve2023-10-31OC388657ns5:RevaluationReserve2022-10-31OC388657ns5:ComputerEquipment2022-11-012023-10-31OC388657ns5:PlantMachinery2022-10-31OC388657ns5:PlantMachinery2023-10-31OC388657ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-31OC388657ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-31OC388657ns5:RevaluationReserve2022-10-31
REGISTERED NUMBER: OC388657 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Madel Properties LLP

Madel Properties LLP (Registered number: OC388657)






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




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Madel Properties LLP

General Information
for the Year Ended 31 October 2023







DESIGNATED MEMBERS: M Madel
Miss J A Fountain





REGISTERED OFFICE: The Barn
Dunnings Lane
Bulphan
RM14 3RJ





REGISTERED NUMBER: OC388657 (England and Wales)

Madel Properties LLP (Registered number: OC388657)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,625,000 1,700,000
1,625,000 1,700,000

CURRENT ASSETS
Debtors 6 25,601 31,741
Cash at bank 3,556 719
29,157 32,460
CREDITORS
Amounts falling due within one year 7 16,512 14,816
NET CURRENT ASSETS 12,645 17,644
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,637,645

1,717,644

CREDITORS
Amounts falling due after more than one
year

8

947,804

952,803
NET ASSETS ATTRIBUTABLE TO
MEMBERS

689,841

764,841

Madel Properties LLP (Registered number: OC388657)

Balance Sheet - continued
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 519,841 519,841
Revaluation reserve 9 170,000 245,000
689,841 764,841

TOTAL MEMBERS' INTERESTS
Members' other interests 689,841 764,841
Amounts due from members 6 (22,069 ) (28,016 )
667,772 736,825

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 October 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 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 July 2024 and were signed by:





M Madel - Designated member

Madel Properties LLP (Registered number: OC388657)

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

1. STATUTORY INFORMATION

Madel 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.

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 comprises the fair value of rents receivable on an accruals basis for the period.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% 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.

FINANCIAL INSTRUMENTS
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Cash and cash equivalents
These comprise cash at bank and any short term highly liquid bank deposits with an original maturity of three month or less.

Debtors
Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is evidence that the asset is impaired.

Trade creditors
Trade creditors are not interest bearing and are stated at their nominal value.

3. EMPLOYEE INFORMATION

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

Madel Properties LLP (Registered number: OC388657)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 1,749
DEPRECIATION
At 1 November 2022
and 31 October 2023 1,749
NET BOOK VALUE
At 31 October 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,700,000
Revaluations (75,000 )
At 31 October 2023 1,625,000
NET BOOK VALUE
At 31 October 2023 1,625,000
At 31 October 2022 1,700,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 170,000
Cost 1,455,000
1,625,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 25,601 31,741

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 5,000 5,000
Other creditors 11,512 9,816
16,512 14,816

Madel Properties LLP (Registered number: OC388657)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans 947,804 952,803

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 938,637 938,636

9. RESERVES
Revaluation
reserve
£   
At 1 November 2022 245,000
Revaluation in year (75,000 )
At 31 October 2023 170,000