IRIS Accounts Production v24.3.2.46 OC428885 designated member designated member 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4288852023-03-31OC4288852024-03-31OC4288852023-04-012024-03-31OC4288852022-03-31OC4288852022-04-012023-03-31OC4288852023-03-31OC428885ns15:EnglandWales2023-04-012024-03-31OC428885ns14:PoundSterling2023-04-012024-03-31OC428885ns10:PartnerLLP12023-04-012024-03-31OC428885ns10:PartnerLLP22023-04-012024-03-31OC428885ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC428885ns10:SmallEntities2023-04-012024-03-31OC428885ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC428885ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC428885ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC428885ns10:FullAccounts2023-04-012024-03-31OC428885ns10:PartnerLLP32023-04-012024-03-31OC428885ns10:PartnerLLP42023-04-012024-03-31OC428885ns10:RegisteredOffice2023-04-012024-03-31OC428885ns5:CurrentFinancialInstruments2024-03-31OC428885ns5:CurrentFinancialInstruments2023-03-31OC428885ns5:Non-currentFinancialInstruments2024-03-31OC428885ns5:Non-currentFinancialInstruments2023-03-31OC428885ns5:CapitalRedemptionReserve2024-03-31OC428885ns5:CapitalRedemptionReserve2023-03-31OC428885ns5:PlantMachinery2023-04-012024-03-31OC428885ns5:PlantMachinery2023-03-31OC428885ns5:PlantMachinery2024-03-31OC428885ns5:PlantMachinery2023-03-31OC428885ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-31OC428885ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31OC428885ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-31OC428885ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-31OC428885ns5:Secured2024-03-31OC428885ns5:Secured2023-03-31
REGISTERED NUMBER: OC428885 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Strachan Deol Property Management LLP

Strachan Deol Property Management LLP (Registered number: OC428885)

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


Strachan Deol Property Management LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Deol Breast Clinic Limited
J M G Strachan-Deol
Dr H Strachan-Deol
Mrs G C Strachan-Deol





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC428885 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Strachan Deol Property Management LLP (Registered number: OC428885)

Balance Sheet
31 March 2024

31.3.24 31.3.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,563 32,522
Investment property 5 497,000 486,363
521,563 518,885

CURRENT ASSETS
Debtors 6 851 4,157
Cash at bank 84,297 29,963
85,148 34,120
CREDITORS
Amounts falling due within one year 7 1,500 1,260
NET CURRENT ASSETS 83,648 32,860
TOTAL ASSETS LESS CURRENT
LIABILITIES

605,211

551,745

CREDITORS
Amounts falling due after more than one
year

8

159,773

159,760
NET ASSETS ATTRIBUTABLE TO
MEMBERS

445,438

391,985

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

11

-

MEMBERS' OTHER INTERESTS
Capital accounts 479,825 434,616
Other reserves (34,398 ) (42,631 )
445,438 391,985

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 11 -
Members' other interests 445,427 391,985
Amounts due from members 6 - (3,414 )
445,438 388,571

Strachan Deol Property Management LLP (Registered number: OC428885)

Balance Sheet - continued
31 March 2024


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.

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 20 January 2025 and were signed by:





Dr H Strachan-Deol - Designated member

Strachan Deol Property Management LLP (Registered number: OC428885)

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


1. STATUTORY INFORMATION

Strachan Deol Property Management 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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a 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.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover represents gross rents receivable and recognised to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Other income
Interest income, including income arising from finance leases and other financial instruments, is recognised using the effective interest method.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Strachan Deol Property Management LLP (Registered number: OC428885)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances 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 receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Provisions for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEE INFORMATION

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

Strachan Deol Property Management LLP (Registered number: OC428885)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 60,361
Additions 348
Disposals (342 )
At 31 March 2024 60,367
DEPRECIATION
At 1 April 2023 27,839
Charge for year 7,994
Eliminated on disposal (29 )
At 31 March 2024 35,804
NET BOOK VALUE
At 31 March 2024 24,563
At 31 March 2023 32,522

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 486,363
Revaluations 10,637
At 31 March 2024 497,000
NET BOOK VALUE
At 31 March 2024 497,000
At 31 March 2023 486,363

Investment property is included at fair value as determined by the members and estate agents.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 45,000
Valuation in 2022 5,000
Valuation in 2023 (20,000 )
Valuation in 2024 10,637
Cost 456,363
497,000

Strachan Deol Property Management LLP (Registered number: OC428885)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Other debtors 851 4,157

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
as restated
£    £   
Other creditors 1,500 1,260

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
as restated
£    £   
Bank loans 159,773 159,760

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 159,773 159,760

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
as restated
£    £   
Bank loans 159,773 159,760

Security is given by a first legal charge over the investment property to which the loan is linked.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally to other creditors.