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REGISTERED NUMBER: OC360094 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Redfern Investments LLP

Redfern Investments LLP (Registered number: OC360094)






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




Page

General Information 1

Report of the Members 2

Income Statement 3

Other Comprehensive Income 4

Statement of Financial Position 5

Reconciliation of Members' Interests 7

Notes to the Financial Statements 9


Redfern Investments LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: C M Pharaoh
Mrs T E Pharaoh
Environment Solutions Limited





REGISTERED OFFICE: The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT





REGISTERED NUMBER: OC360094 (England and Wales)





ACCOUNTANTS: Xeinadin South East Limited
The Old Grange
Warren Estate
Lordship Road
Writtle
Essex
CM1 3WT

Redfern Investments LLP (Registered number: OC360094)

Report of the Members
for the Year Ended 31 March 2024

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

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

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

C M Pharaoh
Mrs T E Pharaoh
Environment Solutions Limited

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £97,399 (2023 - £312,023 profit).

MEMBERS' INTERESTS
At the year end, the total amount invested by the members was £1,086,193 (2023: £1,201,032). It is intended these funds will be invested for the long term and will not be withdrawn within the next 12 months.

STATEMENT OF MEMBERS' RESPONSIBILITIES
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:





C M Pharaoh - Designated member


28 March 2025

Redfern Investments LLP (Registered number: OC360094)

Income Statement
for the Year Ended 31 March 2024

2024 2023
£    £   

TURNOVER 124,120 124,520

Administrative expenses 26,860 5,140
97,260 119,380

Other operating income 139 139
OPERATING PROFIT 97,399 119,519

Gain/loss on revaluation of investment
property

-

200,000
97,399 319,519

Interest payable and similar expenses - 7,496
PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




97,399




312,023

Redfern Investments LLP (Registered number: OC360094)

Other Comprehensive Income
for the Year Ended 31 March 2024

2024 2023
Notes £    £   

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




97,399




312,023


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

97,399

312,023

Redfern Investments LLP (Registered number: OC360094)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,850,000 1,850,000

CURRENT ASSETS
Debtors 5 8,961 13,302
Cash at bank 16,527 118,604
25,488 131,906
CREDITORS
Amounts falling due within one year 6 37,738 37,338
NET CURRENT (LIABILITIES)/ASSETS (12,250 ) 94,568
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,837,750

1,944,568

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

1,094,214

1,201,032

MEMBERS' OTHER INTERESTS
Fair value reserve 743,536 743,536
1,837,750 1,944,568

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 1,094,214 1,201,032
Members' other interests 743,536 743,536
1,837,750 1,944,568

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.

Redfern Investments LLP (Registered number: OC360094)

Statement of Financial Position - continued
31 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 28 March 2025 and were signed by:





C M Pharaoh - Designated member

Redfern Investments LLP (Registered number: OC360094)

Reconciliation of Members' Interests
for the Year Ended 31 March 2024


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 1,201,033
Amount due from members -
Balance at 1 April 2023 743,536 1,201,033 1,944,569
Profit for the financial year
available for discretionary division
among members


97,399


-


97,399


Members' interests after profit for
the year

840,935

1,201,033

2,041,968

Other divisions of profit (97,399 ) 97,399 -
Introduced by members - 780 780
Drawings on account and
distributions of profit

-

(204,998

)

(204,998

)

Amount due to members 1,094,214
Amount due from members -
Balance at 31 March 2024 743,536 1,094,214 1,837,750

Redfern Investments LLP (Registered number: OC360094)

Reconciliation of Members' Interests
for the Year Ended 31 March 2024

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 801,379
Amount due from members -
Balance at 1 April 2022 543,536 801,379 1,344,915
Profit for the financial year
available for discretionary division
among members


312,023


-


312,023


Members' interests after profit for
the year

855,559

801,379

1,656,938

Other divisions of profit (312,023 ) 312,023 -
Transfer between reserves 200,000 - 200,000
Introduced by members - 178,033 178,033
Drawings on account and
distributions of profit

-

(90,403

)

(90,403

)

Amount due to members 1,201,032
Amount due from members -
Balance at 31 March 2023 743,536 1,201,032 1,944,568

Redfern Investments LLP (Registered number: OC360094)

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

1. STATUTORY INFORMATION

Redfern Investments LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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


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.

Significant judgements and estimates
No significant judgements or estimates have been applied in the preparation of the financial statements.

Revenue
Revenue represents rents received is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax.

Investment property
The investment property is included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve.

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 and loans to related parties.

Debtors
Short term debtors are measured at the transaction price, less any impairment.

Loans receivable are measured initially and subsequently at the transaction price, which is not materially different to amortised cost using the effective interest rate method.

Creditors
Short term creditors are measured at the transaction price.

Other financial liabilities, including bank loans are also measured at transaction price since the difference between this basis and the amortised cost basis is not material.

3. EMPLOYEE INFORMATION

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

Redfern Investments LLP (Registered number: OC360094)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,850,000
NET BOOK VALUE
At 31 March 2024 1,850,000
At 31 March 2023 1,850,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 543,537
Valuation in 2023 200,000
Cost 1,106,463
1,850,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,106,463 1,106,463

The investment property was valued on an open market basis on 31 March 2024 by the members .

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors - 3,841
Other debtors - 500
- 4,341

Amounts falling due after more than one year:
Other debtors 8,961 8,961

Aggregate amounts 8,961 13,302

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 880
Amounts owed to related parties 15,820 15,820
Taxation and social security 5,373 7,269
Other creditors 16,545 13,369
37,738 37,338

Redfern Investments LLP (Registered number: OC360094)

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

7. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Loans from members 201,556 201,556
Amounts owed to members in respect of profits 892,658 999,476
1,094,214 1,201,032

Falling due within one year 892,658 999,476
Falling due after more than one year 201,556 201,556
1,094,214 1,201,032

In the event of the Limited Liability Partnership being wound up, all unsecured creditors would rank equally. There is no provision for specific legal enforceable protection afforded to creditors in such an event. There are no restrictions or limitations that exist on the members to reduce the 'Members other interest'.