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REGISTERED NUMBER: OC422729 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

BRG Family Partnership LLP

BRG Family Partnership LLP (Registered number: OC422729)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BRG Family Partnership LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: BRG Property Limited
Mrs D Gill
B Gill





REGISTERED OFFICE: c/o OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Billingham
TS23 4EA





REGISTERED NUMBER: OC422729 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

BRG Family Partnership LLP (Registered number: OC422729)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,621,291 5,808,670

CURRENT ASSETS
Cash at bank 24,826 26,260

CREDITORS
Amounts falling due within one year 5 (9,932 ) (9,687 )
NET CURRENT ASSETS 14,894 16,573
TOTAL ASSETS LESS CURRENT LIABILITIES 5,636,185 5,825,243

CREDITORS
Amounts falling due after more than one
year

6

(3,044,057

)

(3,218,951

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 2,592,128 2,606,292

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

-

2,606,292

MEMBERS' OTHER INTERESTS
Capital accounts 2,592,128 -
2,592,128 2,606,292

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 - 2,606,292
Members' other interests 2,592,128 -
2,592,128 2,606,292

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 31st 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.

BRG Family Partnership LLP (Registered number: OC422729)

Balance Sheet - continued
31st 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 20th February 2025 and were signed by:





B Gill - Designated member

BRG Family Partnership LLP (Registered number: OC422729)

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

1. STATUTORY INFORMATION

BRG Family 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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 33% on cost

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st April 2023 5,808,026 1,149 5,809,175
Disposals (187,000 ) - (187,000 )
At 31st March 2024 5,621,026 1,149 5,622,175
DEPRECIATION
At 1st April 2023 - 505 505
Charge for year - 379 379
At 31st March 2024 - 884 884
NET BOOK VALUE
At 31st March 2024 5,621,026 265 5,621,291
At 31st March 2023 5,808,026 644 5,808,670

The Director/Members see no benefit in revaluing the properties.

BRG Family Partnership LLP (Registered number: OC422729)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st March 2024 is represented by:

Land and
buildings
£   
Valuation in 2020 190,000
Valuation in 2021 (155,000 )
Valuation in 2022 659,500
Valuation in 2023 272,000
Cost 4,654,526
5,621,026

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,932 9,687

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,342 23,519
Other creditors 3,030,715 3,195,432
3,044,057 3,218,951

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 3,030,715 3,195,433

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in liquidation.