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REGISTERED NUMBER: OC441657 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

G & O Property Partnership LLP

G & O Property Partnership LLP (Registered number: OC441657)






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


G & O Property Partnership LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: G Coles
G & O Development Ltd





REGISTERED OFFICE: Oaklea House
46 Coatham Road
Redcar
TS10 1RS





REGISTERED NUMBER: OC441657 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

G & O Property Partnership LLP (Registered number: OC441657)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 384,500 308,749

CURRENT ASSETS
Debtors 5 787 95

CREDITORS
Amounts falling due within one year 6 (7,848 ) (6,802 )
NET CURRENT LIABILITIES (7,061 ) (6,707 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

377,439

302,042

CREDITORS
Amounts falling due after more than one year 7 (211,862 ) (214,818 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

165,577

87,224

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

165,577

87,224

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 165,577 87,224

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.

G & O Property Partnership LLP (Registered number: OC441657)

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 February 2025 and were signed by:





G Coles - Designated member

G & O Property Partnership LLP (Registered number: OC441657)

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

1. STATUTORY INFORMATION

G & O 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 308,749
Revaluations 75,751
At 31 March 2024 384,500
NET BOOK VALUE
At 31 March 2024 384,500
At 31 March 2023 308,749

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 75,751
Cost 308,749
384,500

G & O Property Partnership LLP (Registered number: OC441657)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 692 -
Prepayments 95 95
787 95

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 2,506 1,536
Other loans (see note 8) 2,902 2,842
Other creditors 48 150
Deferred income 773 773
Accrued expenses 1,619 1,501
7,848 6,802

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans (see note 8) 211,862 214,818

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 200,254 203,449

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 2,506 1,536
Loans 2,902 2,842
5,408 4,378

Amounts falling due between one and two years:
Loans 2,902 2,842

Amounts falling due between two and five years:
Other loans - 2-5 years 8,706 8,527

G & O Property Partnership LLP (Registered number: OC441657)

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

8. LOANS - continued
2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Other loans more 5yrs instal 200,254 203,449

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 214,764 217,660

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 165,577 87,224

Falling due within one year 165,577 87,224

Members rank ahead of other creditors in a liquidation.