IRIS Accounts Production v24.2.0.383 OC403996 designated member 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4039962023-03-31OC4039962024-03-31OC4039962023-04-012024-03-31OC4039962022-03-31OC4039962022-04-012023-03-31OC4039962023-03-31OC403996ns15:EnglandWales2023-04-012024-03-31OC403996ns14:PoundSterling2023-04-012024-03-31OC403996ns10:PartnerLLP12023-04-012024-03-31OC403996ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC403996ns10:SmallEntities2023-04-012024-03-31OC403996ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC403996ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC403996ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC403996ns10:FullAccounts2023-04-012024-03-31OC403996ns10:PartnerLLP22023-04-012024-03-31OC403996ns10:RegisteredOffice2023-04-012024-03-31OC403996ns5:CurrentFinancialInstruments2024-03-31OC403996ns5:CurrentFinancialInstruments2023-03-31OC403996ns5:Non-currentFinancialInstruments2024-03-31OC403996ns5:Non-currentFinancialInstruments2023-03-31OC403996ns5:CapitalRedemptionReserve2024-03-31OC403996ns5:CapitalRedemptionReserve2023-03-31OC403996ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC403996ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31OC403996ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-31OC403996ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31OC403996ns5:Secured2024-03-31OC403996ns5:Secured2023-03-31
REGISTERED NUMBER: OC403996 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

S N Murdoch Property LLP

S N Murdoch Property LLP (Registered number: OC403996)

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










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S N Murdoch Property LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: S N Murdoch
Mrs E A Murdoch





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC403996 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

S N Murdoch Property LLP (Registered number: OC403996)

Balance Sheet
31 March 2024

31.3.24 31.3.23
as restated
Notes £    £   
FIXED ASSETS
Investment property 4 2,075,000 2,967,000

CURRENT ASSETS
Debtors 5 255,934 6,820
Cash at bank 11,376 2,932
267,310 9,752
CREDITORS
Amounts falling due within one year 6 (344,201 ) (14,988 )
NET CURRENT LIABILITIES (76,891 ) (5,236 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,998,109

2,961,764

CREDITORS
Amounts falling due after more than one year 7 (233,518 ) (880,192 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,764,591

2,081,572

S N Murdoch Property LLP (Registered number: OC403996)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
as restated
Notes £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 1,962,591 2,081,572
Other reserves (198,000 ) -
1,764,591 2,081,572

TOTAL MEMBERS' INTERESTS
Members' other interests 1,764,591 2,081,572
Amounts due from members 5 (254,851 ) (1,586 )
1,509,740 2,079,986

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 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 12 August 2024 and were signed by:





S N Murdoch - Designated member

S N Murdoch Property LLP (Registered number: OC403996)

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


1. STATUTORY INFORMATION

S N Murdoch Property 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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents rental income received excluding value added tax and is measured at the fair value.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Debtors and creditors receivable/payable in one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Provision for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEE INFORMATION

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

S N Murdoch Property LLP (Registered number: OC403996)

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


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,967,000
Disposals (694,000 )
Impairments (198,000 )
At 31 March 2024 2,075,000
NET BOOK VALUE
At 31 March 2024 2,075,000
At 31 March 2023 2,967,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 (113,000 )
Valuation in 2023 213,000
Valuation in 2024 (198,000 )
Cost 2,173,000
2,075,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Other debtors 255,934 6,820

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Bank loans and overdrafts 326,135 9,432
Other creditors 18,066 5,556
344,201 14,988

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
as restated
£    £   
Bank loans 233,518 880,192

S N Murdoch Property LLP (Registered number: OC403996)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
as restated
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 876,039

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
as restated
£    £   
Bank loans 559,653 889,624

Bank loans are secured by way of a first charge over the investment property to which they relate.