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REGISTERED NUMBER: OC434750 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ABBEY GROUP PROPERTY MANAGEMENT LLP

ABBEY GROUP PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC434750)






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


ABBEY GROUP PROPERTY MANAGEMENT LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr R R Sturgess
Mrs C C A Sturgess





REGISTERED OFFICE: Abbey House
14 Grove Street
Wantage
Oxfordshire
OX12 7AA





REGISTERED NUMBER: OC434750 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Eden House
Two Rivers Business Park
Witney
Oxfordshire
OX28 4BL

ABBEY GROUP PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC434750)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,876 35,500
Investment property 5 27,770,000 28,343,500
27,782,876 28,379,000

CURRENT ASSETS
Debtors 6 828,228 454,805
Cash at bank 27,400 19,443
855,628 474,248
CREDITORS
Amounts falling due within one year 7 222,026 210,469
NET CURRENT ASSETS 633,602 263,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,416,478

28,642,779

CREDITORS
Amounts falling due after more than one
year

8

15,473,124

16,044,797
NET ASSETS ATTRIBUTABLE TO
MEMBERS

12,943,354

12,597,982

ABBEY GROUP PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC434750)

BALANCE SHEET - continued
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

12,350,354

12,081,482

MEMBERS' OTHER INTERESTS
Revaluation reserve 10 593,000 516,500
12,943,354 12,597,982

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 12,350,354 12,081,482
Members' other interests 593,000 516,500
12,943,354 12,597,982

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 23 January 2025 and were signed by:





Mr R R Sturgess - Designated member

ABBEY GROUP PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC434750)

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

1. STATUTORY INFORMATION

Abbey Group 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.

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.

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2023 - 5 ) .

ABBEY GROUP PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC434750)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 63,753 1,256 13,073 78,082
Additions - - 1,230 1,230
At 31 March 2024 63,753 1,256 14,303 79,312
DEPRECIATION
At 1 April 2023 37,033 317 5,232 42,582
Charge for year 20,355 314 3,185 23,854
At 31 March 2024 57,388 631 8,417 66,436
NET BOOK VALUE
At 31 March 2024 6,365 625 5,886 12,876
At 31 March 2023 26,720 939 7,841 35,500

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 28,343,500
Additions 660,000
Disposals (1,363,500 )
Revaluations 130,000
At 31 March 2024 27,770,000
NET BOOK VALUE
At 31 March 2024 27,770,000
At 31 March 2023 28,343,500

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 28,131,600
Valuation in 2023 211,900
Valuation in 2024 (573,500 )
27,770,000

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

31.3.24 31.3.23
£    £   
Cost 27,177,000 27,827,000

Investment property was valued on an open market basis on 31 March 2024 by the partners .

ABBEY GROUP PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC434750)

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
£    £   
Trade debtors 13,685 29,723
Other debtors 814,543 425,082
828,228 454,805

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 18,172 14,195
Taxation and social security 3,135 2,964
Other creditors 200,719 193,310
222,026 210,469

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 15,473,124 16,044,797

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.24 31.3.23
£    £   
Amounts owed to members in respect of profits 12,350,354 12,081,482

Falling due within one year 12,350,354 12,081,482

The loans and other debts due to members would not be withdrawn in preference to paying third party creditors

10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 516,500
Revaluation reserve 130,000
Revaluation release - disposal (53,500 )
At 31 March 2024 593,000