| REGISTERED NUMBER: |
| Ablett Property LLP |
| Financial Statements for the Year Ended 31st March 2025 |
| REGISTERED NUMBER: |
| 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: |
| Registered office: |
| Registered number: |
| Accountants: |
| 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 |
| Current assets |
| Debtors | 4 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 5 |
| Net current assets |
| 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 |
| 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 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 were approved by the members of the LLP and authorised for issue on |
| 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 |
| 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 |
| Additions |
| Revaluations | 570,000 |
| At 31st March 2025 |
| Net book value |
| At 31st March 2025 |
| At 31st March 2024 |
| 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 |
| Other debtors |
| 5. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 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 |
| Transfer from retained earnings to revaluation reserve |
| At 31st March 2025 |