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REGISTERED NUMBER: OC328329 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Union Central Estates LLP

Union Central Estates LLP (Registered number: OC328329)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Union Central Estates LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr H J Angel
Total Business Limited





REGISTERED OFFICE: 97 Judd Street
London
WC1H 9JG





REGISTERED NUMBER: OC328329 (England and Wales)





ACCOUNTANTS: Chris Syrimis & Co
Chartered Certified Accountants
97 Judd Street
London
WC1H 9JG

Union Central Estates LLP (Registered number: OC328329)

Report of the Members
for the Year Ended 31 March 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

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

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

Mr H J Angel
Total Business Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £3,166 (2023 - £9,895 profit).

MEMBERS' INTERESTS
The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.
A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

ON BEHALF OF THE MEMBERS:





Mr H J Angel - Designated member


29 July 2024

Union Central Estates LLP (Registered number: OC328329)

Income Statement
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   

TURNOVER 250,930 275,631

Administrative expenses 146,978 137,221
OPERATING PROFIT 4 103,952 138,410


Interest payable and similar expenses 100,786 128,515
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION
AMONG MEMBERS





3,166





9,895

Union Central Estates LLP (Registered number: OC328329)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 102,210 122,510
Investment property 6 5,700,000 5,700,000
5,802,210 5,822,510

CURRENT ASSETS
Debtors 7 43,612 103,750
Cash at bank 872,877 501,160
916,489 604,910
CREDITORS
Amounts falling due within one year 8 98,552 104,737
NET CURRENT ASSETS 817,937 500,173
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,620,147

6,322,683

CREDITORS
Amounts falling due after more than one
year

9

2,075,000

2,175,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

4,545,147

4,147,683

Union Central Estates LLP (Registered number: OC328329)

Balance Sheet - continued
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE
TO MEMBERS

10

913,194

515,730

MEMBERS' OTHER INTERESTS
Revaluation reserve 11 3,631,953 3,631,953
4,545,147 4,147,683

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 913,194 515,730
Members' other interests 3,631,953 3,631,953
4,545,147 4,147,683

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.

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 29 July 2024 and were signed by:





Mr H J Angel - Designated member

Union Central Estates LLP (Registered number: OC328329)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Union Central 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 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 and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 10 years

Investment property
Investment property are valued on an existing use of open market value basis. Any aggregate surplus or deficit arising from changes in fair value is recognised within net assets attributable to members.

3. EMPLOYEE INFORMATION

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

4. OPERATING PROFIT

The operating profit is stated after charging:

31/3/24 31/3/23
£    £   
Depreciation - owned assets 20,300 20,300

Union Central Estates LLP (Registered number: OC328329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 203,710
DEPRECIATION
At 1 April 2023 81,200
Charge for year 20,300
At 31 March 2024 101,500
NET BOOK VALUE
At 31 March 2024 102,210
At 31 March 2023 122,510

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,700,000
NET BOOK VALUE
At 31 March 2024 5,700,000
At 31 March 2023 5,700,000

Investment property is valued by the members at its approximate market value as at 31st March 2024.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 3,631,953
Cost 2,068,047
5,700,000

Union Central Estates LLP (Registered number: OC328329)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 2,112 -
Other debtors 41,500 103,750
43,612 103,750



8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 39,265 5,500
Other creditors 59,287 99,237
98,552 104,737

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans 2,075,000 2,175,000

The bank loan is secured by a fixed and floating charge over the assets of the LLP.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Drawings are treated as payments on account of profit allocation and are only repayable to the LLP in so far as there are insufficient profits to allocate against such drawings. Any drawings in excess of total profits allocated would be included within 'amounts due from members' within debtors.

11. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 3,631,953