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REGISTERED NUMBER: OC436755 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ANDORA COMMERCIAL LLP

ANDORA COMMERCIAL LLP (REGISTERED NUMBER: OC436755)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ANDORA COMMERCIAL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr A Savva
Mrs D Savva





REGISTERED OFFICE: 869
High Road
London
N12 8QA





REGISTERED NUMBER: OC436755 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ANDORA COMMERCIAL LLP (REGISTERED NUMBER: OC436755)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 505 1,011
Investment property 5 2,810,817 2,447,277
2,811,322 2,448,288

CURRENT ASSETS
Debtors 6 169,403 113,024
Cash at bank 44,227 43,546
213,630 156,570
CREDITORS
Amounts falling due within one year 7 62,241 49,747
NET CURRENT ASSETS 151,389 106,823
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,962,711

2,555,111

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,900,894

1,856,834

MEMBERS' OTHER INTERESTS
Revaluation reserve 9 1,061,817 698,277
2,962,711 2,555,111

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 1,900,894 1,856,834
Members' other interests 1,061,817 698,277
2,962,711 2,555,111

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.

ANDORA COMMERCIAL LLP (REGISTERED NUMBER: OC436755)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 22 August 2024 and were signed by:





Mr A Savva - Designated member

ANDORA COMMERCIAL LLP (REGISTERED NUMBER: OC436755)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Andora Commercial 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 represents net rent receivable.

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 - 25% straight line method

Investment property
Investment properties are carried at fair values. Revaluation surpluses are recognised in the statement of income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The partners considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 2,022
DEPRECIATION
At 1 April 2023 1,011
Charge for year 506
At 31 March 2024 1,517
NET BOOK VALUE
At 31 March 2024 505
At 31 March 2023 1,011

ANDORA COMMERCIAL LLP (REGISTERED NUMBER: OC436755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,447,277
Revaluations 363,540
At 31 March 2024 2,810,817
NET BOOK VALUE
At 31 March 2024 2,810,817
At 31 March 2023 2,447,277

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 698,277
Valuation in 2024 363,540
Cost 1,749,000
2,810,817

Investment properties were valued on a fair value basis on 31 March 2024 by the members of the LLP.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,680 -
Amounts owed by group undertakings - 600
Amounts owed by participating interests 152,573 101,172
Other debtors 12,150 11,252
169,403 113,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 7,347 5,845
Other creditors 54,894 43,902
62,241 49,747

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other creditors on a winding up.

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 698,277
Non-distributable reserves 363,540
At 31 March 2024 1,061,817

10. ULTIMATE CONTROLLING PARTY

During the year under review, there was no single ultimate controlling party.