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REGISTERED NUMBER: OC424601 (England and Wales)










Financial Statements

for the Year Ended 31 March 2024

for

Maximum Property LLP

Maximum Property LLP (Registered number: OC424601)






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


Maximum Property LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: C E Payne
Maximum Property Management Limited





REGISTERED OFFICE: 14 Dalmeny Road
London
N7 0HH





REGISTERED NUMBER: OC424601 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Maximum Property LLP (Registered number: OC424601)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 5,595,000 5,495,000

CURRENT ASSETS
Debtors 5 61,298 48,157
Cash at bank 4,137 32,533
65,435 80,690
CREDITORS
Amounts falling due within one year 6 (76,794 ) (71,226 )
NET CURRENT (LIABILITIES)/ASSETS (11,359 ) 9,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,583,641

5,504,464

CREDITORS
Amounts falling due after more than one year 7 (3,219,619 ) (3,094,133 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,364,022

2,410,331

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

2,364,022

2,410,331

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 2,364,022 2,410,331

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.

Maximum Property LLP (Registered number: OC424601)

Balance Sheet - 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 16 August 2024 and were signed by:





C E Payne - Designated member

Maximum Property LLP (Registered number: OC424601)

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

1. STATUTORY INFORMATION

Maximum 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.

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.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 5,495,000
Revaluations (175,000 )
Reclassification/transfer 275,000
At 31 March 2024 5,595,000
NET BOOK VALUE
At 31 March 2024 5,595,000
At 31 March 2023 5,495,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 (175,000 )
Valuation in 2022 105,000
Valuation in 2021 249,435
Cost 5,415,565
5,595,000

Maximum Property LLP (Registered number: OC424601)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 55,685 48,157
Prepayments and accrued income 5,613 -
61,298 48,157

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bounce Back loan - upto 1 year 5,397 5,264
Other creditors 69,608 64,302
Accrued expenses 1,789 1,660
76,794 71,226

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce Back loan - more than 1
year 29,974 35,370
Mortgages 3,189,645 3,058,763
3,219,619 3,094,133

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 3,189,645 3,058,763

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.