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REGISTERED NUMBER: OC433791 (England and Wales)










Financial Statements

for the Year Ended 31 March 2024

for

Grounded Property Investment LLP

Grounded Property Investment LLP (Registered number: OC433791)






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


Grounded Property Investment LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: S Layde
D Layde
Grounded Property Group Limited





REGISTERED OFFICE: 53 Cuckoo Hill Road
Pinner
Middlesex
HA5 1AU





REGISTERED NUMBER: OC433791 (England and Wales)





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

Grounded Property Investment LLP (Registered number: OC433791)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 2,872,330 2,683,330

CREDITORS
Amounts falling due within one year 5 (4,704 ) (2,800 )
NET CURRENT LIABILITIES (4,704 ) (2,800 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,867,626

2,680,530

CREDITORS
Amounts falling due after more than one year 6 (817,738 ) (817,056 )
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,049,888

1,863,474

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

2,049,888

1,863,474

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 2,049,888 1,863,474

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.

Grounded Property Investment LLP (Registered number: OC433791)

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 4 March 2025 and were signed by:





S Layde - Designated member

Grounded Property Investment LLP (Registered number: OC433791)

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

1. STATUTORY INFORMATION

Grounded Property Investment 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 2,683,330
Revaluations 189,000
At 31 March 2024 2,872,330
NET BOOK VALUE
At 31 March 2024 2,872,330
At 31 March 2023 2,683,330

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 345,330
Valuation in 2023 (470,670 )
Valuation in 2024 189,000
Cost 2,808,670
2,872,330

Grounded Property Investment LLP (Registered number: OC433791)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,552 -
Accrued expenses 3,152 2,800
4,704 2,800

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 7) 817,738 817,056

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 817,738 817,056

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 817,738 817,056

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.