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REGISTERED NUMBER: OC344829 (England and Wales)















Unaudited Financial Statements

for the Period 1 January 2023 to 31 March 2024

for

Sereal Properties LLP

Sereal Properties LLP (Registered number: OC344829)

Contents of the Financial Statements
for the Period 1 January 2023 to 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Sereal Properties LLP (Registered number: OC344829)

Balance Sheet
31 March 2024

31.3.24 31.12.22
Notes £ £
Fixed assets
Investments 5 100 100
Investment property 6 219,000 219,000
219,100 219,100

Current assets
Debtors 7 9,032 37,138
Cash at bank 37,898 10,992
46,930 48,130
Creditors
Amounts falling due within one year 8 (12,207 ) (13,003 )
Net current assets 34,723 35,127
Total assets less current liabilities 253,823 254,227

Creditors
Amounts falling due after more than one
year

9

(53,957

)

(62,845

)
Net assets attributable to members 199,866 191,382

Sereal Properties LLP (Registered number: OC344829)

Balance Sheet - continued
31 March 2024

31.3.24 31.12.22
Notes £ £
Loans and other debts due to members 11 195,010 186,526

Members' other interests
Revaluation reserve 12 4,856 4,856
199,866 191,382

Total members' interests
Loans and other debts due to members 11 195,010 186,526
Members' other interests 4,856 4,856
199,866 191,382

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 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 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 5 August 2024 and were signed by:




Mrs H E Searle - Designated member



Mr P Symonds - Designated member


Sereal Properties LLP (Registered number: OC344829)

Notes to the Financial Statements
for the Period 1 January 2023 to 31 March 2024


1. Statutory information

Sereal Properties LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC344829

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Turnover
Turnover 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.

Financial instruments
The company classifies its financial instruments in the following categories: measured at amortised cost; and measured at fair value through profit and loss. The classification is determined at initial recognition and depends on the purpose for which the financial instruments are required.

Measured at amortised cost includes non-derivative financial assets and liabilities with fixed or determinable payments that are not quoted in an active market. Financial assets are included in current assets, except where the maturity date is more than 12 months after the end of the reporting period. They are initially recorded at fair value and subsequently recorded at amortised cost. Financial liabilities are included in current liabilities, except where the maturity date is more than 12 months after the end of the reporting period. They are initially measured at original cost, less amortisation or provisions raised.

Measured at fair value through profit and loss includes financial assets and liabilities. They are classified according to maturity date, within current and non-current assets and liabilities respectively.

4. Employee information

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

Sereal Properties LLP (Registered number: OC344829)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024


5. Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

6. Investment property
Total
£
Fair value
At 1 January 2023
and 31 March 2024 219,000
Net book value
At 31 March 2024 219,000
At 31 December 2022 219,000

The investment property was revalued at a fair value on 31st December 2013 by the partners. The partners consider this valuation to still be appropriate as at 31st March 2024.

7. Debtors: amounts falling due within one year
31.3.24 31.12.22
£ £
Trade debtors 9,032 29,696
Other debtors - 7,442
9,032 37,138

8. Creditors: amounts falling due within one year
31.3.24 31.12.22
£ £
Trade creditors 4,187 5,083
Other creditors 8,020 7,920
12,207 13,003

9. Creditors: amounts falling due after more than one year
31.3.24 31.12.22
£ £
Other creditors 53,957 62,845

Included within creditors falling due after more than one year is an amount of £23,900 (2022: £36,063) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Sereal Properties LLP (Registered number: OC344829)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 31 March 2024


10. Secured debts

The following secured debts are included within creditors:

31.3.24 31.12.22
£ £
Bank loan 61,977 70,775

The bank loan is secured on the freehold property included in the financial statements.

11. Loans and other debts due to members

The loans and other debts due to members rank after other creditors for repayment.

12. Reserves
Revaluation
reserve
£
At 1 January 2023
and 31 March 2024 4,856

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.