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REGISTERED NUMBER: OC427525 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

MHS Properties Partnership LLP

MHS Properties Partnership LLP (Registered number: OC427525)






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


MHS Properties Partnership LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: Mike Stone Properties Ltd
M H Stone





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





REGISTERED NUMBER: OC427525 (England and Wales)





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

MHS Properties Partnership LLP (Registered number: OC427525)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 572,719 673,625

CURRENT ASSETS
Debtors 5 341,019 298,677
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 913,738 972,302

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

-

972,302

MEMBERS' OTHER INTERESTS
Capital accounts 913,738 -
913,738 972,302

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 - 972,302
Members' other interests 913,738 -
913,738 972,302

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.

MHS Properties Partnership LLP (Registered number: OC427525)

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 27th March 2025 and were signed by:





M H Stone - Designated member

MHS Properties Partnership LLP (Registered number: OC427525)

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

1. STATUTORY INFORMATION

MHS Properties 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 - 25% on reducing balance

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st April 2023 650,000 36,000 686,000
Revaluations (95,000 ) - (95,000 )
At 31st March 2024 555,000 36,000 591,000
DEPRECIATION
At 1st April 2023 - 12,375 12,375
Charge for year - 5,906 5,906
At 31st March 2024 - 18,281 18,281
NET BOOK VALUE
At 31st March 2024 555,000 17,719 572,719
At 31st March 2023 650,000 23,625 673,625

MHS Properties Partnership LLP (Registered number: OC427525)

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 2021 20,000
Valuation in 2022 40,000
Valuation in 2023 90,000
Valuation in 2024 (95,000 )
Cost 500,000
555,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 341,019 298,677

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.