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REGISTERED NUMBER: OC419861 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

TASAR PROPERTIES LLP

TASAR PROPERTIES LLP (REGISTERED NUMBER: OC419861)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


TASAR PROPERTIES LLP

GENERAL INFORMATION
for the year ended 31 March 2023







DESIGNATED MEMBERS: Alpan Properties Limited
Mr R J Schwartz





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: OC419861 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

TASAR PROPERTIES LLP (REGISTERED NUMBER: OC419861)

ABRIDGED BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 284 379
Investment property 5 16,168,976 16,168,976
16,169,260 16,169,355

CURRENT ASSETS
Debtors 1,950 6,732
Cash at bank and in hand 55,968 43,234
57,918 49,966
CREDITORS
Amounts falling due within one year 481,977 426,061
NET CURRENT LIABILITIES (424,059 ) (376,095 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,745,201

15,793,260

CREDITORS
Amounts falling due after more than one year 6 3,244,781 3,501,815
NET ASSETS ATTRIBUTABLE TO
MEMBERS

12,500,420

12,291,445

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

12,500,420

12,291,445

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 12,500,420 12,291,445

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 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.

TASAR PROPERTIES LLP (REGISTERED NUMBER: OC419861)

ABRIDGED BALANCE SHEET - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

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 21 August 2024 and were signed by:





Mr R J Schwartz - Designated member

TASAR PROPERTIES LLP (REGISTERED NUMBER: OC419861)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Tasar 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover relates to rental income receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEE INFORMATION

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

TASAR PROPERTIES LLP (REGISTERED NUMBER: OC419861)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 900
DEPRECIATION
At 1 April 2022 521
Charge for year 95
At 31 March 2023 616
NET BOOK VALUE
At 31 March 2023 284
At 31 March 2022 379

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 16,168,976
NET BOOK VALUE
At 31 March 2023 16,168,976
At 31 March 2022 16,168,976

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable otherwise than by instalments
Bank loans 1,119,540 1,119,540

Repayable by instalments
Bank loans 1,129,862 1,303,625

TASAR PROPERTIES LLP (REGISTERED NUMBER: OC419861)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,551,521 3,810,249

Bank loans and mortgages are secured over the properties to which they relate.

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members are unsecured.

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the LLP owed £91,000 (2022 - £26,000) to Riks Developments Limited, a company which is controlled by Mr R J Schwartz. The company also owed £35,000 (2022 - £35,000) to G R S Property Investments Limited, a company owned jointly by Mr R J Schwartz and his brother.

During the year, the LLP was charged £40,000 (2022 - £40,000) by Riks Developments Limited and G R S Property Investments Limited in relation to property management.