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REGISTERED NUMBER: OC402908 (England and Wales)














Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Chatham Property Partnership LLP

The Chatham Property Partnership LLP (Registered number: OC402908)






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


The Chatham Property Partnership LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr R Silver
Mrs S Silver





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: OC402908 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

The Chatham Property Partnership LLP (Registered number: OC402908)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 60,629 79,242
Investment property 5 1,915,920 1,915,920
1,976,549 1,995,162

CURRENT ASSETS
Debtors 6 489,905 447,124
Cash at bank 955 3,215
490,860 450,339
CREDITORS
Amounts falling due within one year 7 (189,311 ) (226,602 )
NET CURRENT ASSETS 301,549 223,737
TOTAL ASSETS LESS CURRENT LIABILITIES 2,278,098 2,218,899

CREDITORS
Amounts falling due after more than one year 8 (257,059 ) (510,929 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,021,039 1,707,970

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

2,021,039

1,707,970

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 2,021,039 1,707,970

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 Chatham Property Partnership LLP (Registered number: OC402908)

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 17 January 2025 and were signed by:





Mr R Silver - Designated member

The Chatham Property Partnership LLP (Registered number: OC402908)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Chatham Property Partnership 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 represents rents receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 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 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 31,710 218,686 1,779 252,175
DEPRECIATION
At 1 April 2023 19,751 151,713 1,469 172,933
Charge for year 1,793 16,743 77 18,613
At 31 March 2024 21,544 168,456 1,546 191,546
NET BOOK VALUE
At 31 March 2024 10,166 50,230 233 60,629
At 31 March 2023 11,959 66,973 310 79,242

The Chatham Property Partnership LLP (Registered number: OC402908)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY

In accordance with the FRS102, depreciation has not been charged on investment property. This is a departure from the Companies Act, but necessary to show a true and fair view. The standard depreciation treatment would not give a true and fair view as investment property is unlikely to depreciate in value.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 1,915,920

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

31.3.24 31.3.23
£    £   
Cost 1,915,920 1,915,920

Investment property was valued on an open market basis on 31 March 2024 by Mr R. Silver .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,503 599
Other debtors 488,402 446,525
489,905 447,124

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 38,253 74,523
Trade creditors 98,501 108,351
Other creditors 52,557 43,728
189,311 226,602

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 257,059 510,929

The Chatham Property Partnership LLP (Registered number: OC402908)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Commercial property 1,915,920 1,915,920

Lloyds Bank PLC holds a floating charge and negative pledge charge over 1 and 1A Longmoor Lane, Liverpool, Unit 1, 2-5 at 6 Provincial House, Infirmary Street, Bolton and at the financial position date.both fixed and floating charge with negative pledge over Thelford House, Walderslade Centre, Chatham, Kent.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members have no preferential rank in relation to other creditors.

11. RELATED PARTY DISCLOSURES

Mr. R N Silver and Mrs. S A Silver are considered to be key management personnel.