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REGISTERED NUMBER: OC382031 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

TOBY LANE LLP

TOBY LANE LLP (REGISTERED NUMBER: OC382031)

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 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: OC382031 (England and Wales)





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

TOBY LANE LLP (REGISTERED NUMBER: OC382031)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investment property 4 790,000 820,000

Current assets
Debtors 5 1,495,666 1,413,268
Cash at bank 13,244 31,506
1,508,910 1,444,774
Creditors
Amounts falling due within one year 6 269,635 265,408
Net current assets 1,239,275 1,179,366
Total assets less current liabilities 2,029,275 1,999,366

Creditors
Amounts falling due after more than one year 7 525,000 525,000
Net assets attributable to members 1,504,275 1,474,366

Loans and other debts due to members 9 1,504,275 1,474,366

Total members' interests
Loans and other debts due to members 9 1,504,275 1,474,366

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 LLP (REGISTERED NUMBER: OC382031)

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 LLP (REGISTERED NUMBER: OC382031)

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


1. Statutory information

Toby Lane 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.

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 NIL (2023 - NIL).

4. Investment property
Total
£
Fair value
At 1 April 2023 820,000
Revaluations (30,000 )
At 31 March 2024 790,000
Net book value
At 31 March 2024 790,000
At 31 March 2023 820,000

Fair value at 31 March 2024 is represented by:
£
Valuation in 2017 482,168
Valuation in 2021 (180,000 )
Valuation in 2024 (30,000 )
Cost 517,832
790,000

TOBY LANE LLP (REGISTERED NUMBER: OC382031)

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


4. Investment property - continued

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

2024 2023
£ £
Cost 517,832 517,832

Investment property was valued on a fair value basis on 6 December 2023 by Cluttons .

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 20,031 20,031
Other debtors 1,475,635 1,393,237
1,495,666 1,413,268

6. Creditors: amounts falling due within one year
2024 2023
£ £
Taxation and social security 3,952 -
Other creditors 265,683 265,408
269,635 265,408

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 525,000 525,000

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 525,000 -

The bank loan is secured by way of a fixed charge against the freehold land and buildings at 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.

TOBY LANE LLP (REGISTERED NUMBER: OC382031)

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


10. Related party disclosures

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

Included within other creditors is a loan from The Harford Building LLP for the sum of £240,000 (2023: £243,000). R V Woolstencroft, P E Williams and A S Brockley are designated members of The Harford Building LLP.

Also included within other creditors is a loan from the Harford Building Residential LLP for the sum of £4,000 (2023: £4,000). R V Woolstencroft, P E Williams and A S Brockley are designated members of the Harford Building Residential LLP.