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REGISTERED NUMBER: OC364761 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30th June 2024

for

MS Anderson Properties LLP

MS Anderson Properties LLP (Registered number: OC364761)






Contents of the Financial Statements
for the Year Ended 30th June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


MS Anderson Properties LLP (Registered number: OC364761)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 900,000 900,000

CURRENT ASSETS
Cash at bank 9,277 7,244

CREDITORS
Amounts falling due within one year 6 45,985 45,985
NET CURRENT LIABILITIES (36,708 ) (38,741 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

863,292

861,259

CREDITORS
Amounts falling due after more than one
year

7

209,268

260,190
NET ASSETS ATTRIBUTABLE TO
MEMBERS

654,024

601,069

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

654,024

601,069

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 654,024 601,069

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 30th June 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.

MS Anderson Properties LLP (Registered number: OC364761)

Balance Sheet - continued
30th June 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 24th March 2025 and were signed by:





Mr M S Anderson - Designated member

MS Anderson Properties LLP (Registered number: OC364761)

Notes to the Financial Statements
for the Year Ended 30th June 2024

1. STATUTORY INFORMATION

MS Anderson Properties LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC364761

Registered office: Kings Lodge
London Road
West Kingsdown
Sevenoaks
Kent
TN15 6AR

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition
Rental income includes one off rentals for furnished holiday lets and regular reoccurring income for long term residential lets. Income is recognised in the Profit and Loss account when the right to receive payment is established.

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.

MS Anderson Properties LLP (Registered number: OC364761)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

3. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies 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. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

4. EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2023 - 1 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2023
and 30th June 2024 900,000
NET BOOK VALUE
At 30th June 2024 900,000
At 30th June 2023 900,000

MS Anderson Properties LLP (Registered number: OC364761)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2021 (502,084 )
Cost 1,402,084
900,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,000 45,000
Deposits held 985 985
45,985 45,985

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 45,000 45,000
Bank loans - 2-5 years 105,408 135,000
Bank loans more than 5 years 58,860 80,190
209,268 260,190

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 58,860 80,190

8. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Amounts owed to members in respect of profits 654,024 601,069

Falling due within one year 654,024 601,069

The balances shown above would rank below unsecured creditors from the proceeds of a winding-up of the LLP.

9. ULTIMATE CONTROLLING PARTY

During the year, the ultimate controlling party was Mr M Anderson by virtue of his control of the designated members.