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REGISTERED NUMBER: OC418125 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Pass Family Partnership LLP

Pass Family Partnership LLP (Registered number: OC418125)






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


Pass Family Partnership LLP

General Information
for the Year Ended 31st March 2024







DESIGNATED MEMBERS: Mrs H J Pass
J Pass
Homesmart Estates Limited





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





REGISTERED NUMBER: OC418125 (England and Wales)





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

Pass Family Partnership LLP (Registered number: OC418125)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 15,670,862 14,480,194

CURRENT ASSETS
Debtors 5 473,667 271,388
Cash at bank and in hand 4,595 22,605
478,262 293,993
CREDITORS
Amounts falling due within one year 6 (282,925 ) (429,885 )
NET CURRENT ASSETS/(LIABILITIES) 195,337 (135,892 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,866,199 14,344,302

CREDITORS
Amounts falling due after more than one
year

7

(9,409,290

)

(9,298,150

)
NET ASSETS ATTRIBUTABLE TO MEMBERS 6,456,909 5,046,152

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

-

5,046,152

MEMBERS' OTHER INTERESTS
Capital accounts 6,456,909 -
6,456,909 5,046,152

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 - 5,046,152
Members' other interests 6,456,909 -
6,456,909 5,046,152

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.

Pass Family Partnership LLP (Registered number: OC418125)

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 16th June 2025 and were signed by:





Mrs H J Pass - Designated member

Pass Family Partnership LLP (Registered number: OC418125)

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

1. STATUTORY INFORMATION

Pass 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
Plant and machinery etc - 25% on reducing balance

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2023 14,461,169 39,811 14,388 14,515,368
Additions 780,645 - - 780,645
Disposals (314,910 ) - - (314,910 )
Revaluations 732,934 - - 732,934
At 31st March 2024 15,659,838 39,811 14,388 15,714,037
DEPRECIATION
At 1st April 2023 - 24,476 10,698 35,174
Charge for year - 7,078 923 8,001
At 31st March 2024 - 31,554 11,621 43,175
NET BOOK VALUE
At 31st March 2024 15,659,838 8,257 2,767 15,670,862
At 31st March 2023 14,461,169 15,335 3,690 14,480,194


Pass Family Partnership LLP (Registered number: OC418125)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,206 18,549
Other debtors 448,056 252,839
Prepayments 6,405 -
473,667 271,388

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,946 36,124
Hire purchase contracts 8,218 8,832
Trade creditors 11,826 2,813
Other creditors 254,935 381,856
Deposits - 260
282,925 429,885

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan > 1 year 29,684 30,000
Hire purchase contracts - 6,464
Mortgages 9,379,606 9,261,686
9,409,290 9,298,150

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 9,379,606 9,261,686

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in the event of liquidation.