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REGISTERED NUMBER: OC382664 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

EASY LET RENTAL AGENTS (HASTINGS) LLP

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


EASY LET RENTAL AGENTS (HASTINGS) LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: M Cockerill
Easy Let Rental Agents Limited





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: OC382664 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2024

The members present their report with the financial statements of the LLP for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of a property lettings.

DESIGNATED MEMBERS
The designated members during the year under review were:

M Cockerill
Easy Let Rental Agents Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £7,960 (2023 - £5,568 profit).

MEMBERS' INTERESTS
The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members' capital are disclosed in the accounting policies, note 1 of the financial statements.

The members' interests are disclosed in the notes to the financial statements.

ON BEHALF OF THE MEMBERS:





M Cockerill - Designated member


29 January 2025

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
£    £   

TURNOVER 20,350 22,419

Administrative expenses (14,145 ) (2,636 )
OPERATING PROFIT 6,205 19,783


Interest payable and similar expenses (14,165 ) (14,215 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT SHARES
AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS




(7,960




)




5,568

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 778,000 778,000

CURRENT ASSETS
Cash at bank 206 206

CREDITORS
Amounts falling due within one year 5 11,399 9,316
NET CURRENT LIABILITIES (11,193 ) (9,110 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

766,807

768,890

CREDITORS
Amounts falling due after more than one
year

6

291,797

294,215
NET ASSETS ATTRIBUTABLE TO
MEMBERS

475,010

474,675

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 475,010 474,675
475,010 474,675

TOTAL MEMBERS' INTERESTS
Members' other interests 475,010 474,675

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.

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 29 January 2025 and were signed by:





M Cockerill - Designated member

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)

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

1. STATUTORY INFORMATION

Easy Let Rental Agents (Hastings) 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
In preparing the financial statements, the members are required to make an assessment of the ability of the LLP to continue as a going concern. The members have considered all available evidence for the LLP which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the members are confident that the LLP has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the members have concluded that it remains appropriate to adopt a going concern basis of preparation.

Turnover
Turnover represents net invoiced rents received, excluding value added tax. Turnover is recognised when the LLP obtains the right to consideration.

Investment property
Investment property is shown at most recent valuations. Any aggregate surplus or deficit arising from changes in market value is transferred to a revaluation reserve. There is no depreciation charged on investment property. This departure from the Companies Act 2006 is, in the members opinion, required in order to give a true and fair view.

Capital subscription and repayment
The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. Interest is paid on capital at the discretion of the members.

Allocation of profits and drawings
The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members.

During the year members draw sums as agreed by the Designated Members, taking into account the partnership's cash requirements for operating and investing activities.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 778,000
NET BOOK VALUE
At 31 March 2024 778,000
At 31 March 2023 778,000

EASY LET RENTAL AGENTS (HASTINGS) LLP (REGISTERED NUMBER: OC382664)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 90,000
Valuation in 2017 35,000
Valuation in 2019 70,000
Valuation in 2020 75,000
Valuation in 2022 143,000
Cost 365,000
778,000

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

31.3.24 31.3.23
£    £   
Cost 365,000 365,000

Investment property was valued on an open market basis on 31 March 2024 by Mr M Cockerill .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,600 7,516
Other creditors 1,799 1,800
11,399 9,316

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 291,797 294,215

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 255,674 255,674

7. RELATED PARTY DISCLOSURES

Easy Let Rental Agents Limited is a member of the LLP. Mr M Cockerill, who is also a member of the LLP is director and shareholder of the company. Both businesses are under common control.