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REGISTERED NUMBER: OC428414 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31st March 2024

for

John and Karin Brown Family Partnership
LLP

John and Karin Brown Family Partnership
LLP (Registered number: OC428414)






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 5


John and Karin Brown Family Partnership
LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: John and Karin Brown Family Holdings Ltd
Brown





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





REGISTERED NUMBER: OC428414 (England and Wales)





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

John and Karin Brown Family Partnership
LLP (Registered number: OC428414)

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 rentals.

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

Executor of the late John Brown
Executor of the late Karin Brown
John and Karin Brown Family Holdings Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The profit for the year before members' remuneration and profit shares was £272,166 (2023 - £198,391 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:





Brown - Designated member


5th June 2025

John and Karin Brown Family Partnership
LLP (Registered number: OC428414)

Income Statement
for the Year Ended 31st March 2024

2024 2023
£    £   

TURNOVER 452,474 487,568

Administrative expenses (187,888 ) (291,533 )
OPERATING PROFIT 264,586 196,035

Interest receivable and similar income 7,580 2,356
PROFIT FOR THE FINANCIAL YEAR BEFORE
MEMBERS' REMUNERATION AND PROFIT
SHARES AVAILABLE FOR DISCRETIONARY
DIVISION AMONG MEMBERS



272,166



198,391

John and Karin Brown Family Partnership
LLP (Registered number: OC428414)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,104,079 16,104,079

CURRENT ASSETS
Debtors 5 810 18,171
Cash at bank 85,395 1,052,402
86,205 1,070,573
CREDITORS
Amounts falling due within one year 6 (35,381 ) (34,195 )
NET CURRENT ASSETS 50,824 1,036,378
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO MEMBERS 16,154,903 17,140,457

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

16,154,903

17,140,457

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 16,154,903 17,140,457

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.

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 5th June 2025 and were signed by:



Brown - Designated member

John and Karin Brown Family Partnership
LLP (Registered number: OC428414)

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

1. STATUTORY INFORMATION

John and Karin Brown 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 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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1st April 2023
and 31st March 2024 16,104,079
NET BOOK VALUE
At 31st March 2024 16,104,079
At 31st March 2023 16,104,079

The members see no benefit in revaluing the properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 810 18,171

John and Karin Brown Family Partnership
LLP (Registered number: OC428414)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 35,381 34,195

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.