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REGISTERED NUMBER: OC396021 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

TOBY LANE RESIDENTIAL LLP

TOBY LANE RESIDENTIAL LLP (REGISTERED NUMBER: OC396021)

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


TOBY LANE RESIDENTIAL LLP

General Information
for the year ended 31 March 2024







Designated members: P E Williams
A S Brockley
R V Woolstencroft





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: OC396021 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

TOBY LANE RESIDENTIAL LLP (REGISTERED NUMBER: OC396021)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 4,550,000 4,190,000

Current assets
Debtors 5 39,717 10,212
Cash at bank 15,502 116,883
55,219 127,095
Creditors
Amounts falling due within one year 6 1,289,302 1,320,516
Net current liabilities (1,234,083 ) (1,193,421 )
Total assets less current liabilities 3,315,917 2,996,579

Creditors
Amounts falling due after more than one year 7 2,422,000 2,422,000
Net assets attributable to members 893,917 574,579

Loans and other debts due to members 9 893,917 574,579

Total members' interests
Loans and other debts due to members 9 893,917 574,579

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.

TOBY LANE RESIDENTIAL LLP (REGISTERED NUMBER: OC396021)

Balance Sheet - 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 29 January 2025 and were signed by:





P E Williams - Designated member

TOBY LANE RESIDENTIAL LLP (REGISTERED NUMBER: OC396021)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Toby Lane Residential 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.

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.

3. Employee information

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

4. Tangible fixed assets
Land and
buildings
£
Cost or valuation
At 1 April 2023 4,190,000
Revaluations 360,000
At 31 March 2024 4,550,000
Net book value
At 31 March 2024 4,550,000
At 31 March 2023 4,190,000

TOBY LANE RESIDENTIAL LLP (REGISTERED NUMBER: OC396021)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets - continued

Cost or valuation at 31 March 2024 is represented by:

Land and
buildings
£
Valuation in 2017 256,043
Valuation in 2021 190,000
Valuation in 2024 360,000
Cost 3,743,957
4,550,000

If land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 3,743,957 3,743,957

Leasehold land and buildings were valued on a fair value basis on 6 December 2023 by Cluttons .

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 39,717 10,212

6. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 1,289,302 1,320,516

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 2,422,000 2,422,000

TOBY LANE RESIDENTIAL LLP (REGISTERED NUMBER: OC396021)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 2,422,000 -

The bank loan is secured by way of a legal charge against the properties known as Flats 1 to 9, Toby Lane, London together with all associated fixtures.

9. Loans and other debts due to members

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

10. Related party disclosures

At the balance sheet date, other creditors due within one year includes a balance of £1,280,027 (2023: £1,314,017) due to Toby Lane LLP. During the year, the LLP paid £3,150 to Toby Lane LLP (2023: £3,150) for ground rents. R V Woolstencroft, P E Williams and A S Brockley are designated members of Toby Lane LLP.

Also included in other creditors due within one year is a balance of £4,000 (2023: £4,000) due to The Harford Building Residential LLP. R V Woolstencroft, P E Williams and A S Brockley are designated members of The Harford Building Residential LLP.