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REGISTERED NUMBER: OC426669 (England and Wales)
















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

TERRA URBANA PROPERTY MANAGEMENT LLP

TERRA URBANA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426669)

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


TERRA URBANA PROPERTY MANAGEMENT LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mr S Mead
Mrs P Mead
Terra Urbana Limited





REGISTERED OFFICE: Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: OC426669 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02 High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

TERRA URBANA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426669)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,198 8,263
Investment property 5 3,595,000 3,330,000
3,601,198 3,338,263

CURRENT ASSETS
Debtors 6 - 4,902
Cash at bank 13,649 30,071
13,649 34,973
CREDITORS
Amounts falling due within one year 7 25,100 24,973
NET CURRENT (LIABILITIES)/ASSETS (11,451 ) 10,000
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,589,747

3,348,263

TERRA URBANA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426669)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024

2024 2023
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

118,675

18,263

MEMBERS' OTHER INTERESTS
Capital accounts 3,502,944 3,330,000
Other reserves (31,872 ) -
3,589,747 3,348,263

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 118,675 18,263
Members' other interests 3,471,072 3,330,000
Amounts due from members 6 - (4,802 )
3,589,747 3,343,461

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 28 January 2025 and were signed by:





Mr S Mead - Designated member

TERRA URBANA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426669)

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


1. STATUTORY INFORMATION

Terra Urbana 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 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.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
Cost
At 1 April 2023
and 31 March 2024 26,116
Depreciation
At 1 April 2023 17,853
Charge for year 2,065
At 31 March 2024 19,918
Net book value
At 31 March 2024 6,198
At 31 March 2023 8,263

TERRA URBANA PROPERTY MANAGEMENT LLP (REGISTERED NUMBER: OC426669)

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


5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 3,330,000
Additions 336,000
Revaluations (71,000 )
At 31 March 2024 3,595,000
Net book value
At 31 March 2024 3,595,000
At 31 March 2023 3,330,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 (71,000 )
Cost 3,666,000
3,595,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 100
Other debtors - 4,802
- 4,902

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 25,100 24,973

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 118,675 18,263

Falling due within one year 118,675 18,263

This is not loan to members, this is the current accounts of designated partners.