Registered number
OC413688
Hott Property LLP
Filleted Accounts
31 March 2024
Hott Property LLP
Registered number: OC413688
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 215,000 215,000
Current assets
Debtors 4 55,013 55,609
Cash at bank and in hand 2,351 4,787
57,364 60,396
Creditors: amounts falling due within one year 5 (136,159) (128,773)
Net current liabilities (78,795) (68,377)
Total assets less current liabilities 136,205 146,623
Creditors: amounts falling due after more than one year 6 (189,847) (196,617)
Net liabilities attributable to members (53,642) (49,994)
Represented by:
Members' other interests
Revaluation reserve 6,700 6,700
Other reserves (60,342) (56,694)
(53,642) (49,994)
(53,642) (49,994)
Total members' interests
Members' other interests (53,642) (49,994)
(53,642) (49,994)
For the year ended 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 4 June 2025 and signed on their behalf by:
Mr H Ottley
Designated member
Hott Property LLP
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Division of profits
Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
2 Employees 2024 2023
Number Number
Average number of persons employed by the LLP 0 0
3 Fixed asset investments
Other
investments
£
Cost
At 1 April 2023 215,000
At 31 March 2024 215,000
Historical cost
At 1 April 2023 208,300
At 31 March 2024 208,300
At 31 March 2024 the valuation of the property was reviewed by Mr H Ottley and Mr T Tchorszewski, the directors of the company. Following the review Mr H Ottley and Mr T Tchorszewski are satisfied that the current valuation represents the fair value of the property. The revalued asset has not been valued by a qualified valuer. The valuation is representative of similar property values in the area.
4 Debtors 2024 2023
£ £
Trade debtors 3,013 1,609
Other debtors 52,000 54,000
55,013 55,609
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,297 6,250
Trade creditors 1,026 -
Other creditors 128,836 122,523
136,159 128,773
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 189,847 196,617
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 157,500 157,500
Instalments falling due for payment after more than five years 7,347 14,118
164,847 171,618
Secured bank loans 157,500 157,500
The mortgage is secured by a charge over the investment property including a negative pledge.
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 6,700 -
Gain on revaluation of land and buildings - 6,700
At 31 March 2024 6,700 6,700
9 Other information
Hott Property LLP is a limited liability partnership incorporated in England. Its registered office is:
Bury Lodge
Bury Road
Stowmarket
Suffolk
IP14 1JA
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