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REGISTERED NUMBER: OC433799 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

PAVS Property LLP

PAVS Property LLP (Registered number: OC433799)

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










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PAVS Property LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: S Patel
Mrs P Patel
Omnia Holdings Limited





REGISTERED OFFICE: Argyle House
Joel Street
Northwood
HA6 1NW





REGISTERED NUMBER: OC433799 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

PAVS Property LLP (Registered number: OC433799)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 50,000 -
Investment property 5 5,488,840 4,836,488
5,538,840 4,836,488

CURRENT ASSETS
Debtors 6 16,522 6,040
Cash at bank 22,904 18,042
39,426 24,082
CREDITORS
Amounts falling due within one year 7 743,911 362,230
NET CURRENT LIABILITIES (704,485 ) (338,148 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,834,355

4,498,340

CREDITORS
Amounts falling due after more than one
year

8

921,976

168,521
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,912,379

4,329,819

PAVS Property LLP (Registered number: OC433799)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

24,537

-

MEMBERS' OTHER INTERESTS
Capital accounts 3,887,842 4,329,819
3,912,379 4,329,819

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 24,537 -
Members' other interests 3,887,842 4,329,819
3,912,379 4,329,819

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.

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 8 April 2025 and were signed by:





S Patel - Designated member

PAVS Property LLP (Registered number: OC433799)

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


1. STATUTORY INFORMATION

PAVS Property 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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Investment property is shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate deficit or surplus arising from changes in fair value is recognised through profit and loss.

Fixed asset investments
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate deficit or surplus arising from changes in fair value is recognised through profit and loss.

3. EMPLOYEE INFORMATION

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

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.24 31.3.23
£    £   
Investment in ENG8 Ltd 50,000 -

PAVS Property LLP (Registered number: OC433799)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,836,488
Additions 652,352
At 31 March 2024 5,488,840
NET BOOK VALUE
At 31 March 2024 5,488,840
At 31 March 2023 4,836,488

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 185,000
Cost 5,303,840
5,488,840

If investment properties had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 5,303,840 4,651,329

Investment properties were valued on an open market basis on 31 March 2023 by the designated members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 16,522 6,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 3,051 -
Other creditors 740,860 362,230
743,911 362,230

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 921,976 168,521

PAVS Property LLP (Registered number: OC433799)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Loans 1,658,929 521,586

The loans are secured against the LLP's investment properties

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Capital introduced by members and capital repaid to members is done at par. A member is not entitled to receive capital repayment whilst a member of the LLP or following resignation.

The drawings policy of the LLP allows each member to draw in advance a proportion of their annual profit share, subject to the cash requirements of the business and the agreement of the other members. Undrawn profits at the end of the year may be transferred to equity at the option of the member or drawn in subsequent periods subject to the cash requirements of the business and the agreement of the other members.

Any transfers of members' interests from equity to debt (and vice versa) is done at par.

11. CONTINGENT LIABILITIES

The LLP's investment properties secure loans totalling £1,667,835 (2023 £2,266,610) ) at the balance sheet date in its member Omnia Holdings Limited.

12. RELATED PARTY DISCLOSURES

At the balance sheet date the LLP owed a company controlled by a member £1,567 (2023 £6,621). This loan is interest free and repayable on demand..