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REGISTERED NUMBER: OC372506 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Morgan & Dixon Property LLP

Morgan & Dixon Property LLP (Registered number: OC372506)






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


Morgan & Dixon Property LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: A R Morgan
CC Dixon





REGISTERED OFFICE: Enterprise House
18 Eastern Road
Romford
RM1 3PJ





REGISTERED NUMBER: OC372506 (England and Wales)





ACCOUNTANTS: Barnes Wedge Limited
Chartered Accountants
Handel House
Roselawn Fields
Chelmsford
Essex
CM1 7GB

Morgan & Dixon Property LLP (Registered number: OC372506)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 20 20
Investment property 5 1,540,000 1,540,000
1,540,020 1,540,020

CURRENT ASSETS
Debtors 6 91,995 96,516
Cash at bank 11,875 15,453
103,870 111,969
CREDITORS
Amounts falling due within one year 7 31,841 18,006
NET CURRENT ASSETS 72,029 93,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,612,049

1,633,983

CREDITORS
Amounts falling due after more than one
year

8

480,000

480,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,132,049

1,153,983

LOANS AND OTHER DEBTS DUE TO
MEMBERS

1,132,049

1,153,983

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 1,132,049 1,153,983

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.

Morgan & Dixon Property LLP (Registered number: OC372506)

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 21 August 2024 and were signed by:





A R Morgan - Designated member

Morgan & Dixon Property LLP (Registered number: OC372506)

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

1. STATUTORY INFORMATION

Morgan & Dixon 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.

Preparation of consolidated financial statements
The financial statements contain information about Morgan & Dixon Property LLP as an individual LLP and do not contain consolidated financial information as the parent of a group. The LLP has taken the option under Section 398 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 not to prepare consolidated financial statements.

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 consists of amounts receivable for UK property rental services net of VAT. Credit is taken for rents receivable on a daily basis, any amounts of rent received in advance are carried forward.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Interests in subsidiaries, associates and jointly controlled entities are measured at cost.

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.

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised through the profit and loss account.

3. EMPLOYEE INFORMATION

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 20
NET BOOK VALUE
At 31 March 2024 20
At 31 March 2023 20

Morgan & Dixon Property LLP (Registered number: OC372506)

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,540,000
NET BOOK VALUE
At 31 March 2024 1,540,000
At 31 March 2023 1,540,000

Investment properties are carried at their fair value as assessed by the members. The original cost was £668,879.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 14,305 8,214
Other debtors 77,690 88,302
91,995 96,516

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 12,848 5,972
Taxation and social security 750 54
Other creditors 18,243 11,980
31,841 18,006

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 480,000 480,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 480,000 480,000

The bank loan is secured by a fixed and floating charge over the assets of the limited liability partnership.