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REGISTERED NUMBER: OC376353 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SWINGBRIDGE PROPERTY LLP

SWINGBRIDGE PROPERTY LLP (REGISTERED NUMBER: OC376353)






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


SWINGBRIDGE PROPERTY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: D Keeling
Mrs A L Eizzard





REGISTERED OFFICE: 1/3 Swingbridge Road
Grantham
Lincolnshire
NG31 7XT





REGISTERED NUMBER: OC376353 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

SWINGBRIDGE PROPERTY LLP (REGISTERED NUMBER: OC376353)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 578,769 579,118

CURRENT ASSETS
Stocks 5 45,373 -
Debtors 6 32,123 49,560
Cash at bank 9,034 1,679
86,530 51,239
CREDITORS
Amounts falling due within one year 7 (342,668 ) (331,063 )
NET CURRENT LIABILITIES (256,138 ) (279,824 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

322,631

299,294

CREDITORS
Amounts falling due after more than one
year

8

(285,952

)

(291,389

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

36,679

7,905

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

28,774

-

MEMBERS' OTHER INTERESTS
Capital accounts 7,905 7,905
36,679 7,905

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 28,774 -
Members' other interests 7,905 7,905
Amounts due from members 6 - (29,545 )
36,679 (21,640 )

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.

SWINGBRIDGE PROPERTY LLP (REGISTERED NUMBER: OC376353)

STATEMENT OF FINANCIAL POSITION - 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 28 January 2025 and were signed by:





Mrs A L Eizzard - Designated member

SWINGBRIDGE PROPERTY LLP (REGISTERED NUMBER: OC376353)

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

1. STATUTORY INFORMATION

Swingbridge Property 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 577,722 7,845 585,567
DEPRECIATION
At 1 April 2023 - 6,449 6,449
Charge for year - 349 349
At 31 March 2024 - 6,798 6,798
NET BOOK VALUE
At 31 March 2024 577,722 1,047 578,769
At 31 March 2023 577,722 1,396 579,118

SWINGBRIDGE PROPERTY LLP (REGISTERED NUMBER: OC376353)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 7,845
DEPRECIATION
At 1 April 2023 6,449
Charge for year 349
At 31 March 2024 6,798
NET BOOK VALUE
At 31 March 2024 1,047
At 31 March 2023 1,396

5. STOCKS
2024 2023
£    £   
Stocks 45,373 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,925 14,160
Amounts due from members - 29,545
Other debtors 17,522 5,855
VAT 676 -
32,123 49,560

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,915 8,915
Trade creditors 14,608 2,339
VAT - 465
Other creditors 317,945 317,944
Accrued expenses 1,200 1,400
342,668 331,063

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,915 8,915
Bank loans - 2-5 years 26,746 26,746
Bank loans more 5 yr by instal 250,291 255,728
285,952 291,389

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 250,291 255,728

SWINGBRIDGE PROPERTY LLP (REGISTERED NUMBER: OC376353)

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

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.