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REGISTERED NUMBER: OC446592 (England and Wales)















Family Properties LLP

Unaudited Financial Statements

for the Period 28 March 2023 to 31 March 2024






Family Properties LLP (Registered number: OC446592)






Contents of the Financial Statements
for the Period 28 March 2023 to 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 4


Family Properties LLP (Registered number: OC446592)

Balance Sheet
31 March 2024

Notes £    £   
FIXED ASSETS
Investment property 4 1,140,000

CURRENT ASSETS
Debtors 5 1,250
Cash at bank 1,019
2,269
CREDITORS
Amounts falling due within one year 6 14,776
NET CURRENT LIABILITIES (12,507 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,127,493

CREDITORS
Amounts falling due after more than
one year

7

566,034
NET ASSETS ATTRIBUTABLE TO
MEMBERS

561,459

Family Properties LLP (Registered number: OC446592)

Balance Sheet - continued
31 March 2024

Notes £    £   
LOANS AND OTHER DEBTS DUE
TO MEMBERS

8

20,815

MEMBERS' OTHER INTERESTS
Capital accounts 540,644
561,459

TOTAL MEMBERS' INTERESTS
Loans and other debts due to
members

8

20,815
Members' other interests 540,644
561,459

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 period 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.

Family Properties LLP (Registered number: OC446592)

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 10 November 2024 and were signed by:




Mr S I Methven - Designated member




Ms L A Cheetham - Designated member


Family Properties LLP (Registered number: OC446592)

Notes to the Financial Statements
for the Period 28 March 2023 to 31 March 2024

1. STATUTORY INFORMATION

Family Properties LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC446592

Registered office: Suite 16 Enterprise House
Telford Road
Bicester
Oxon
OX26 4LD

The presentation currency of the financial statements is the Pound Sterling (£).


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
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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non convertible preference preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEE INFORMATION

The average number of employees during the period was 2 .

Family Properties LLP (Registered number: OC446592)

Notes to the Financial Statements - continued
for the Period 28 March 2023 to 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,130,000
Revaluations 10,000
At 31 March 2024 1,140,000
NET BOOK VALUE
At 31 March 2024 1,140,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 10,000
Cost 1,130,000
1,140,000

If the investment properties had not been revalued they would have been included at the following historical cost:

£   
Cost 1,130,000

The investment properties were valued on an open market basis on 31 March 2024 by the members .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 1,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other creditors 14,776

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
£   
Other creditors 566,034

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up, the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.