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REGISTERED NUMBER: OC316717 (England and Wales)
























Ablett Property LLP

Financial Statements for the Year Ended 31st March 2025






Ablett Property LLP (Registered number: OC316717)

Contents of the Financial Statements
for the Year Ended 31st March 2025










Page

General information 1

Balance sheet 2

Notes to the financial statements 4


Ablett Property LLP

General Information
for the Year Ended 31st March 2025







Designated members: P R Ablett
E A Ablett





Registered office: The Miller Last Works
Arthur Street
Northampton
Northampton
NN2 6DX





Registered number: OC316717 (England and Wales)





Accountants: A.J. Lewis
Chartered Accountant
Lewis & Son Accountants Limited
37 Stoke Road
Blisworth
Northampton
NN7 3BZ

Ablett Property LLP (Registered number: OC316717)

Balance Sheet
31st March 2025

2025 2024
Notes £    £    £    £   
Fixed assets
Investment property 3 3,359,414 2,600,000

Current assets
Debtors 4 80,400 16,758
Cash at bank 35,210 43,705
115,610 60,463
Creditors
Amounts falling due within one year 5 48,051 19,542
Net current assets 67,559 40,921
Total assets less current liabilities
and
Net assets attributable to members 3,426,973 2,640,921

Loans and other debts due to
members

6

1,960,423

1,744,371

Members' other interests
Revaluation reserve 7 1,466,550 896,550
3,426,973 2,640,921

Total members' interests
Loans and other debts due to members 6 1,960,423 1,744,371
Members' other interests 1,466,550 896,550
Amounts due from members 4 - (4,758 )
3,426,973 2,636,163

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 2025.

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.

Ablett Property LLP (Registered number: OC316717)

Balance Sheet - continued
31st March 2025


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 Profit and loss account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 12th June 2025 and were signed by:





P R Ablett - Designated member

Ablett Property LLP (Registered number: OC316717)

Notes to the Financial Statements
for the Year Ended 31st March 2025


1. 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.

Revenue recognition
The company recognises revenue to the extent that it obtains the right to consideration in exchange for its performance under contract. The right to consideration arises when some, but not necessarily all, of the contractual obligations have been fulfilled.

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.

Taxation
The tax payable on the profits is the personal liability of the members.

2. Employee information

The average number of employees during the year was NIL (2024 - NIL).

3. Investment property
Total
£   
Fair value
At 1st April 2024 2,600,000
Additions 189,414
Revaluations 570,000
At 31st March 2025 3,359,414
Net book value
At 31st March 2025 3,359,414
At 31st March 2024 2,600,000

Ablett Property LLP (Registered number: OC316717)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


3. Investment property - continued

Fair value at 31st March 2025 is represented by:
£   
Valuation in 2009 295,100
Valuation in 2015 136,330
Valuation in 2018 145,000
Valuation in 2022 200,000
Valuation in 2023 120,120
Valuation in 2024 570,000
Cost 1,892,864
3,359,414

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

2025 2024
£    £   
Cost 1,892,865 1,703,450

The investment properties were valued on an open market basis on 31st March 2025 by independent valuers .

4. Debtors: amounts falling due within one year
2025 2024
£    £   
Trade debtors 80,400 12,000
Other debtors - 4,758
80,400 16,758

5. Creditors: amounts falling due within one year
2025 2024
£    £   
Trade creditors 22,967 14,871
Taxation and social security 23,684 3,271
Other creditors 1,400 1,400
48,051 19,542

6. Loans and other debts due to members

Capital loans and other debt due to members rank pari passu with other creditors.

Ablett Property LLP (Registered number: OC316717)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2025


7. Reserves
Revaluation
reserve
£   
At 1st April 2024 896,550
Transfer from retained earnings to
revaluation reserve

570,000

At 31st March 2025 1,466,550