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REGISTERED NUMBER: OC438153 (England and Wales)















Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Chambers Property Partnership LLP

Chambers Property Partnership LLP (Registered number: OC438153)






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


Chambers Property Partnership LLP

General Information
For The Year Ended 31 March 2024







DESIGNATED MEMBERS: Mr J Patel
Mrs K J Patel
Mr N Patel
Mr P Patel
Mrs Y Patel
Mrs A R D Tank





REGISTERED OFFICE: 9 Melrose Gardens
Edgware
Middlesex
HA8 5LN





REGISTERED NUMBER: OC438153 (England and Wales)





ACCOUNTANTS: RNS Business Solutions Limited
Chartered Accountants
276 Preston Road
Harrow
Middlesex
HA3 0QA

Chambers Property Partnership LLP (Registered number: OC438153)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,256,000 6,237,500

CURRENT ASSETS
Debtors 5 2,722 3,474
Cash at bank and in hand 613,868 423,420
616,590 426,894
CREDITORS
Amounts falling due within one year 6 41,137 13,344
NET CURRENT ASSETS 575,453 413,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,831,453

6,651,050

CREDITORS
Amounts falling due after more than one year 7 3,481,715 3,490,045
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,349,738

3,161,005

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

3,349,738

3,161,005

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 3,349,738 3,161,005

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.

Chambers Property Partnership LLP (Registered number: OC438153)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 January 2025 and were signed by:





Mr P Patel - Designated member

Chambers Property Partnership LLP (Registered number: OC438153)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Chambers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured as the rental income received or receivable, gross of lettings and agents fees.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investments are recognised initially at fair value which is normally the transaction price excluding transactions costs. Subsequently, they are measure at fair value through profit or loss.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEE INFORMATION

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

Chambers Property Partnership LLP (Registered number: OC438153)

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1 April 2023 6,237,500
Additions 18,500
At 31 March 2024 6,256,000
NET BOOK VALUE
At 31 March 2024 6,256,000
At 31 March 2023 6,237,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 2,722 3,474

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 5,039 6,215
Other creditors 36,098 7,129
41,137 13,344

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Other creditors 3,481,715 3,490,045

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank after all unsecured creditors in the event of a winding up. No legally enforceable protection is afforded to any creditors.