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REGISTERED NUMBER: OC317987 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

TFC (INVESTMENT PROPERTIES) LLP

TFC (INVESTMENT PROPERTIES) LLP (REGISTERED NUMBER: OC317987)






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


TFC (INVESTMENT PROPERTIES) LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: R J Ormond
TFC (Property) Limited
Mrs L C Ormond





REGISTERED OFFICE: Tower House
Vale Rise
TONBRIDGE
Kent
TN9 1TB





REGISTERED NUMBER: OC317987 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

TFC (INVESTMENT PROPERTIES) LLP (REGISTERED NUMBER: OC317987)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 1,722 6,889
Investment property 5 815,000 815,000
816,722 821,889

CURRENT ASSETS
Debtors 6 50,202 54
Cash at bank 29,547 109,397
79,749 109,451
CREDITORS
Amounts falling due within one year 7 (715 ) (2,086 )
NET CURRENT ASSETS 79,034 107,365
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

895,756

929,254

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

161,795

195,293

MEMBERS' OTHER INTERESTS
Capital accounts 656,174 656,174
Revaluation reserve 9 77,787 77,787
895,756 929,254

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 161,795 195,293
Members' other interests 733,961 733,961
Amounts due from members 6 (49,908 ) -
845,848 929,254

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.

TFC (INVESTMENT PROPERTIES) LLP (REGISTERED NUMBER: OC317987)

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 15 October 2024 and were signed by:





R J Ormond - Designated member

TFC (INVESTMENT PROPERTIES) LLP (REGISTERED NUMBER: OC317987)

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

1. STATUTORY INFORMATION

TFC (Investment 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.

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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Property, plant and equipment is measured at cost less accumulated depreciation and any accumulated impairment losses.

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

Fixtures and fittings - 20% on cost
Motor vehicles - 33% on cost

At each statement of financial position date, the LLP reviews the carrying amount of its property, plant and equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. No depreciation is provided in respect of investment property.

3. EMPLOYEE INFORMATION

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

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 43,341 15,500 58,841
DEPRECIATION
At 1 April 2023 43,341 8,611 51,952
Charge for year - 5,167 5,167
At 31 March 2024 43,341 13,778 57,119
NET BOOK VALUE
At 31 March 2024 - 1,722 1,722
At 31 March 2023 - 6,889 6,889

TFC (INVESTMENT PROPERTIES) LLP (REGISTERED NUMBER: OC317987)

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 815,000
NET BOOK VALUE
At 31 March 2024 815,000
At 31 March 2023 815,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 555,000
Valuation in 2023 260,000
815,000

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

2024 2023
£    £   
Cost 477,213 477,213

Investment property was valued on an open market basis on 31 March 2023 by the members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 231 -
Amounts due from members 49,908 -
Social security & other taxes 63 54
50,202 54

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors - 1,371
Accrued expenses 715 715
715 2,086

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023
and 31 March 2024 77,787

10. CONTINGENT LIABILITIES

The LLP has provided an unlimited guarantee to Barclays Bank PLC in respect of any bank borrowings that TFC Group LLP may have.