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REGISTERED NUMBER: OC316693 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

FOR

JNR PROPERTIES LLP

JNR PROPERTIES LLP (REGISTERED NUMBER: OC316693)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JNR PROPERTIES LLP

GENERAL INFORMATION
for the Year Ended 30 March 2024







DESIGNATED MEMBERS: J D Fawcett
N A C Laurence





REGISTERED OFFICE: 10 London Mews
London
W2 1HY





REGISTERED NUMBER: OC316693 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

JNR PROPERTIES LLP (REGISTERED NUMBER: OC316693)

BALANCE SHEET
30 March 2024

30.3.24 30.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,685,000 1,715,000

CURRENT ASSETS
Debtors 5 38,055 38,230
Cash at bank 6,048 5,340
44,103 43,570
CREDITORS
Amounts falling due within one year 6 10,413 9,224
NET CURRENT ASSETS 33,690 34,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,718,690

1,749,346

CREDITORS
Amounts falling due after more than one
year

7

910,282

910,033
NET ASSETS ATTRIBUTABLE TO
MEMBERS

808,408

839,313

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

808,408

839,313

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 808,408 839,313

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 30 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.

JNR PROPERTIES LLP (REGISTERED NUMBER: OC316693)

BALANCE SHEET - continued
30 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 12 November 2024 and were signed by:





N A C Laurence - Designated member

JNR PROPERTIES LLP (REGISTERED NUMBER: OC316693)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 March 2024

1. STATUTORY INFORMATION

JNR 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.

After reviewing the LLPs forecasts and projections, the partners have reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover represents rent receivable on the investment properties.

Investment property
n accordance with FRS 102 Section 1A, the LLP's properties are held for long-term investment and are included in the Balance Sheet at their open market values. The surplus or deficit on annual revaluation of such properties are transferred to the profit and loss account.

Financial instruments
The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2023 1,715,000
Revaluations (30,000 )
At 30 March 2024 1,685,000
NET BOOK VALUE
At 30 March 2024 1,685,000
At 30 March 2023 1,715,000

JNR PROPERTIES LLP (REGISTERED NUMBER: OC316693)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2012 2,398,495
Valuation in 2013 92,636
Valuation in 2014 59,606
Valuation in 2015 112,898
Valuation in 2016 (885,363 )
Valuation in 2017 295,500
Valuation in 2018 (473,441 )
Valuation in 2019 (758,341 )
Valuation in 2024 (30,000 )
Cost 873,010
1,685,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 30.3.23
£    £   
Other debtors 38,055 38,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 30.3.23
£    £   
Trade creditors 457 175
Other creditors 9,956 9,049
10,413 9,224

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.24 30.3.23
£    £   
Bank loans 910,282 910,033

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 910,282 910,033

8. SECURED DEBTS

The following secured debts are included within creditors:

30.3.24 30.3.23
£    £   
Bank loans 910,282 910,033

Newcastle Building Society and Barclays bank have first legal charges over the investment properties.

JNR PROPERTIES LLP (REGISTERED NUMBER: OC316693)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 March 2024

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Monies owed to the partners included in loans and other debts due to members are payable after all creditors have been paid.

10. RELATED PARTY DISCLOSURES

At the balance sheet date the Partnership was owed £12,000 (2023 - £12,000) by Sands Realty Limited,£ (2023 - £3611,419) by James Laurence Ltd and £17,620 (2023 - £15,574) by Thameway Limited which are included in other debtors.

N Laurence and J Fawcett are directors or partners in these companies and LLPs.