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REGISTERED NUMBER: OC426271 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LONDON PRIME ESTATES LLP

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

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


LONDON PRIME ESTATES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr H W Boy
Mrs H C Boy





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: OC426271 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 10,175,000 10,175,000

CURRENT ASSETS
Debtors 5 40,000 82,494
Cash at bank 215,246 107,085
255,246 189,579
CREDITORS
Amounts falling due within one year 6 98,713 61,279
NET CURRENT ASSETS 156,533 128,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,331,533

10,303,300

CREDITORS
Amounts falling due after more than one
year

7

6,367,738

6,367,738
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,963,795

3,935,562

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

3,963,795

3,935,562

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 3,963,795 3,935,562
Amounts due from members 5 - (42,494 )
3,963,795 3,893,068

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.

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

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 2 September 2024 and were signed by:





Mrs H C Boy - Designated member

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

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


1. STATUTORY INFORMATION

London Prime Estates 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 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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 10,175,000
NET BOOK VALUE
At 31 March 2024 10,175,000
At 31 March 2023 10,175,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Amounts due from members - 42,494
Prepayments 40,000 40,000
40,000 82,494

LONDON PRIME ESTATES LLP (REGISTERED NUMBER: OC426271)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 81,433 44,479
Rents prepaid 12,000 12,000
Accrued expenses 5,280 4,800
98,713 61,279

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 8) 6,367,738 6,367,738

8. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 6,367,738 6,367,738

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 6,367,738 6,367,738

The bank loans are secured on the LLP's properties and repayable in three years.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 42,787 14,554
Capital account 3,921,008 3,921,008
3,963,795 3,935,562

Falling due within one year 3,963,795 3,935,562

Amount due to members.