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REGISTERED NUMBER: OC394387 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SPIDER PROPERTIES LLP

SPIDER PROPERTIES LLP (REGISTERED NUMBER: OC394387)

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


SPIDER PROPERTIES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: D M Chandler
J S Lowen
M R Woodley





REGISTERED OFFICE: 1 Yarm Holt
Leatherhead
Surrey
KT22 8FD





REGISTERED NUMBER: OC394387 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
4th Floor Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU

SPIDER PROPERTIES LLP (REGISTERED NUMBER: OC394387)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,600,000 1,600,000

CURRENT ASSETS
Debtors 5 5,683 5,666
Cash at bank 4,874 12,343
10,557 18,009
CREDITORS
Amounts falling due within one year 6 6,704 7,784
NET CURRENT ASSETS 3,853 10,225
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,603,853

1,610,225

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

1,011,420

1,017,792

MEMBERS' OTHER INTERESTS
Fair value reserve 8 592,433 592,433
1,603,853 1,610,225

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,011,420 1,017,792
Members' other interests 592,433 592,433
1,603,853 1,610,225

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.

SPIDER PROPERTIES LLP (REGISTERED NUMBER: OC394387)

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 5 September 2024 and were signed by:





D M Chandler - Designated member

SPIDER PROPERTIES LLP (REGISTERED NUMBER: OC394387)

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


1. STATUTORY INFORMATION

Spider 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 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.

Turnover comprises revenue recognised by the LLP in respect of rent receivable during the period, exclusive of Value Added Tax.

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

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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
and 31 March 2024 1,600,000
NET BOOK VALUE
At 31 March 2024 1,600,000
At 31 March 2023 1,600,000

SPIDER PROPERTIES LLP (REGISTERED NUMBER: OC394387)

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


4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 592,433
Cost 1,007,567
1,600,000

If the property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,007,567 1,007,567

Investment properties were valued on an open market basis on 31 March 2024 by the designated members.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,800 4,800
Other debtors 883 866
5,683 5,666

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 4,376 5,454
Other creditors 2,328 2,330
6,704 7,784

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 1,011,420 1,017,792

Falling due within one year 1,011,420 1,017,792

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

8. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 592,433

SPIDER PROPERTIES LLP (REGISTERED NUMBER: OC394387)

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


9. LEASING AGREEMENTS

The investment property, as disclosed in note 5, is let out to a third party. This non-cancellable lease has a remaining term of 19 months.

Future minimum rentals receivable under non-cancellable operating leases are as follows:
2024 2023
£ £
Within one year 104,160 104,160
Between one and five years 60,760 56,420
In more than five years - -
164,920 160,580