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REGISTERED NUMBER: OC437166 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2024

for

Rathmell Family Partnership LLP

Rathmell Family Partnership LLP (Registered number: OC437166)






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




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Rathmell Family Partnership LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: T J Rathmell
Mrs J Rathmell
Petrichor Estates Ltd





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





REGISTERED NUMBER: OC437166 (England and Wales)





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

Rathmell Family Partnership LLP (Registered number: OC437166)

Report of the Members
for the Year Ended 31st March 2024

The members present their report with the financial statements of the LLP for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of property letting.

DESIGNATED MEMBERS
The designated members during the year under review were:

T J Rathmell
Mrs J Rathmell
Petrichor Estates Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £78,689 (2023 - £101,758 profit).

MEMBERS' INTERESTS
Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or retirement. Only those members who have contributed capital to the LLP are allocated losses, if the LLP declares a loss in a period.

ON BEHALF OF THE MEMBERS:





T J Rathmell - Designated member


25th March 2025

Rathmell Family Partnership LLP (Registered number: OC437166)

Income Statement
for the Year Ended 31st March 2024

2024 2023
£    £   

TURNOVER 329,284 307,782

Administrative expenses (102,389 ) (102,308 )
OPERATING PROFIT 226,895 205,474


Interest payable and similar expenses (148,206 ) (103,716 )
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



78,689



101,758

Rathmell Family Partnership LLP (Registered number: OC437166)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,003,800 7,003,800

CURRENT ASSETS
Cash at bank 11,207 27,749

CREDITORS
Amounts falling due within one year 5 (19,750 ) (19,750 )
NET CURRENT (LIABILITIES)/ASSETS (8,543 ) 7,999
TOTAL ASSETS LESS CURRENT LIABILITIES 6,995,257 7,011,799

CREDITORS
Amounts falling due after more than one
year

6

(2,982,257

)

(2,997,387

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 4,013,000 4,014,412

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

-

4,014,412

MEMBERS' OTHER INTERESTS
Capital accounts 4,013,000 -
4,013,000 4,014,412

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 - 4,014,412
Members' other interests 4,013,000 -
4,013,000 4,014,412

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.

Rathmell Family Partnership LLP (Registered number: OC437166)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 25th March 2025 and were signed by:





T J Rathmell - Designated member

Rathmell Family Partnership LLP (Registered number: OC437166)

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

1. STATUTORY INFORMATION

Rathmell 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.

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

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st April 2023
and 31st March 2024 7,003,800
NET BOOK VALUE
At 31st March 2024 7,003,800
At 31st March 2023 7,003,800

The Members see no real benefit in revaluing the properties.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Other creditors 9,750 9,750
19,750 19,750

Rathmell Family Partnership LLP (Registered number: OC437166)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 16,667 27,500
Other creditors 2,965,590 2,969,887
2,982,257 2,997,387

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 2,965,590 2,969,886

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in liquidation.