Silverfin false 30/06/2024 01/07/2023 30/06/2024 S D Gordon 25/05/2011 M P Jacobs 25/05/2011 D B Kessler 25/05/2011 26 March 2025 OC364963 2024-06-30 OC364963 bus:Director1 2024-06-30 OC364963 bus:Director2 2024-06-30 OC364963 bus:Director3 2024-06-30 OC364963 2023-06-30 OC364963 core:CurrentFinancialInstruments 2024-06-30 OC364963 core:CurrentFinancialInstruments 2023-06-30 OC364963 core:CostValuation 2023-06-30 OC364963 core:CostValuation 2024-06-30 OC364963 2023-07-01 2024-06-30 OC364963 bus:FullAccounts 2023-07-01 2024-06-30 OC364963 bus:SmallEntities 2023-07-01 2024-06-30 OC364963 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 OC364963 bus:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 OC364963 bus:Director1 2023-07-01 2024-06-30 OC364963 bus:Director2 2023-07-01 2024-06-30 OC364963 bus:Director3 2023-07-01 2024-06-30 OC364963 2022-07-01 2023-06-30 OC364963 core:Subsidiary1 2023-07-01 2024-06-30 OC364963 core:Subsidiary1 1 2023-07-01 2024-06-30 OC364963 core:Subsidiary1 1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure decimalUnit

Company No: OC364963 (England and Wales)

MET PROPERTY FINANCE LLP

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

MET PROPERTY FINANCE LLP

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

MET PROPERTY FINANCE LLP

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
MET PROPERTY FINANCE LLP

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1 1
1 1
Current assets
Debtors 4 740,344 743,010
Cash at bank and in hand 521 328
740,865 743,338
Creditors: amounts falling due within one year 5 ( 675,754) ( 675,970)
Net current assets 65,111 67,368
Total assets less current liabilities 65,112 67,369
Net assets attributable to members 65,112 67,369
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability 100 100
Other amounts 7 105,127 103,793
105,227 103,893
Members' other interests
Other reserves (40,115) (36,524)
(40,115) (36,524)
65,112 67,369
Total members' interests
Amounts due from members (included in debtors) (740,344) (743,010)
Loans and other debts due to members 105,227 103,893
Members' other interests (40,115) (36,524)
(675,232) (675,641)

For the financial year ending 30 June 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of MET Property Finance LLP (registered number: OC364963) were approved and authorised for issue by the Board of Directors on 26 March 2025. They were signed on its behalf by:

M P Jacobs
Designated member
MET PROPERTY FINANCE LLP

RECONCILIATION OF MEMBERS' INTERESTS

For the financial year ended 30 June 2024
MET PROPERTY FINANCE LLP

RECONCILIATION OF MEMBERS' INTERESTS (continued)

For the financial year ended 30 June 2024
EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves Members' capital (classified as debt) Other amounts Total Total
£ £ £ £ £
Amounts due to members 100 102,627 102,727
Amounts due from members (745,344) (745,344)
Balance at 01 July 2022 (32,075) 100 (642,717) (642,617) (674,692)
Loss for the financial year available for discretionary division among members (4,449) 0 0 0 (4,449)
Members' interest after loss for the financial year (36,524) 100 (642,717) (642,617) (679,141)
Introduced by members 0 0 3,500 3,500 3,500
Amounts due to members 100 103,793 103,893
Amounts due from members (743,010) (743,010)
Balance at 30 June 2023 (36,524) 100 (639,217) (639,117) (675,641)
Loss for the financial year available for discretionary division among members (3,591) 0 0 0 (3,591)
Members' interest after loss for the financial year (40,115) 100 (639,217) (639,117) (679,232)
Introduced by members 0 0 4,000 4,000 4,000
Amounts due to members 100 105,127 105,227
Amounts due from members (740,344) (740,344)
Balance at 30 June 2024 (40,115) 100 (635,217) (635,117) (675,232)

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

MET PROPERTY FINANCE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
MET PROPERTY FINANCE LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

MET Property Finance LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2021).

The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The LLP has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the LLP as an individual entity and not about its group.

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The LLP only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and amounts owed to and from members and related parties.

Financial assets
Basic financial assets, including other debtors and amounts due members, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including other creditors and accruals and amounts owed to members, 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 receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

2. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements.

2024 2023
Number Number
Average number of members during the financial year 9 9

No amounts were paid to the members under the terms of the LLP agreement (2023: £Nil)

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 1
At 30 June 2024 1
Carrying value at 30 June 2024 1
Carrying value at 30 June 2023 1

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.06.2024
Ownership
30.06.2023
Globalshots Limited 35 Ballards Lane, London, N3 1XW Management of real estate on a fee or contract basis Ordinary 100.00% 100.00%

The aggregate of the share capital and reserves as at 30 June 2024 was £1 (2023: £1) and the profit or loss for the year ended on that date for the subsidiary undertaking was £Nil (2023: £Nil). The company was dormant for the year ended 30 June 2024 and the previous year.

4. Debtors

2024 2023
£ £
Amounts owed by members 740,344 743,010

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 540
Amounts owed to Group undertakings 672,489 672,489
Accruals 3,264 2,940
Other creditors 1 1
675,754 675,970

6. Related party transactions

Included within other creditors is a balance of £672,489 (2023: £672,489) owed to a subsidiary. This balance is unsecured and interest-free with no fixed repayment terms.

7. Loans and other debts due to members

2024 2023
£ £
Members' capital treated as debt 100 100
Other amounts due to members 105,127 103,793
105,227 103,893

Loans and other debts due to members may be further analysed as follows:

2024 2023
£ £
Falling due within one year 105,127 103,793

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.