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REGISTERED NUMBER: OC417123 (England and Wales)













REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

EVER PROPERTY LLP

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

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










Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Reconciliation of Members' Interests 6

Notes to the Financial Statements 8


EVER PROPERTY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr C Laing
Mr D Hellier Laing





REGISTERED OFFICE: 6 Matford Lane
Exeter
Devon
EX2 4PS





REGISTERED NUMBER: OC417123 (England and Wales)





ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024


The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property rental business.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr C Laing
Mr D Hellier Laing

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £21,841 (2023 - £20,234 profit).

MEMBERS' INTERESTS
During the period members receive drawings representing payments on account of profits which may be allocated to them. The amount of such drawings is agreed during the year immediately prior to the draw down, taking into account the anticipated cash needs of the LLP, and may be reclaimed from members until such time as profits have been allocated to them.

Profits are determined during the finalisation of the accounts, and are then allocated to members.

The total cumulative balances of drawings, funds introduced and allocated profits for the members are included in 'amounts due from members' within debtors where drawings exceed funds introduced and allocated profits, or in 'loans and other debts due to members' where allocated profits and funds introduced exceed drawings.

Capital requirements are determined by the designated members and are reviewed at least annually. The requirement of the proportion of each members subscription to that capital is agreed at the time of subscription.

ON BEHALF OF THE MEMBERS:





Mr C Laing - Designated member


9 October 2024

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£    £   

TURNOVER 43,025 35,700

Administrative expenses 14,449 8,426
OPERATING PROFIT 28,576 27,274

Interest receivable and similar income 385 969
28,961 28,243

Interest payable and similar expenses 7,120 8,009
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



21,841



20,234

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 963,510 954,085

CURRENT ASSETS
Debtors 5 39,906 50,812
Cash at bank 14,787 21,636
54,693 72,448
CREDITORS
Amounts falling due within one year 6 146,255 146,927
NET CURRENT LIABILITIES (91,562 ) (74,479 )
TOTAL ASSETS LESS CURRENT LIABILITIES 871,948 879,606

CREDITORS
Amounts falling due after more than one
year

7

868,844

868,844
NET ASSETS ATTRIBUTABLE TO MEMBERS 3,104 10,762

LOANS AND OTHER DEBTS DUE TO MEMBERS 8 3,104 10,762

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 3,104 10,762
Amounts due from members 5 (38,934 ) (49,555 )
(35,830 ) (38,793 )

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.

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

BALANCE SHEET - continued
31 MARCH 2024


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

The financial statements were approved by the members of the LLP and authorised for issue on 9 October 2024 and were signed by:





Mr C Laing - Designated member

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 10,762
Amount due from members (49,555 )
Balance at 1 April 2023 - (38,793 ) (38,793 )
Profit for the financial year
available for discretionary
division among members


21,841


-


21,841


Members' interests after profit for
the year

21,841

(38,793

)

(16,952

)

Other divisions of profit (21,841 ) 21,841 -
Introduced by members - 312 312
Drawings on account and
distributions of profit

-

(19,190

)

(19,190

)

Amount due to members 3,104
Amount due from members (38,934 )
Balance at 31 March 2024 - (35,830 ) (35,830 )

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 10,448
Amount due from members (59,586 )
Balance at 1 April 2022 - (49,138 ) (49,138 )
Profit for the financial year
available for discretionary
division among members


20,234


-


20,234


Members' interests after profit for
the year

20,234

(49,138

)

(28,904

)

Other divisions of profit (20,234 ) 20,234 -
Introduced by members - 312 312
Drawings on account and
distributions of profit

-

(10,201

)

(10,201

)

Amount due to members 10,762
Amount due from members (49,555 )
Balance at 31 March 2023 - (38,793 ) (38,793 )

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

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


1. STATUTORY INFORMATION

Ever 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.

Turnover
Turnover is measured as rents receivable on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023 954,085
Additions 9,425
At 31 March 2024 963,510
NET BOOK VALUE
At 31 March 2024 963,510
At 31 March 2023 954,085

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts due from members 38,934 49,555
Prepayments 972 1,257
39,906 50,812

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 143,419 144,073
Trade creditors 1 -
Accrued expenses 2,835 2,854
146,255 146,927

EVER PROPERTY LLP (REGISTERED NUMBER: OC417123)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 868,844 868,844

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 3,104 10,762

Falling due within one year 3,104 10,762

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

There is no provision for specific legally enforceable protection afforded to creditors in such an event.

There are no restrictions or limitations on the ability of the members to reduce the amount of ‘Members’ other interests'.