REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
for |
ESPA Property Trading LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements |
for the Year Ended 31 March 2025 |
for |
ESPA Property Trading LLP |
ESPA Property Trading LLP (Registered number: OC338818) |
Contents of the Financial Statements |
for the Year Ended 31 March 2025 |
Page |
Report of the Members | 1 |
Income Statement | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
ESPA Property Trading LLP (Registered number: OC338818) |
Report of the Members |
for the Year Ended 31 March 2025 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2025. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property rental. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £139,736 (2024 - £1,689 loss). |
MEMBERS' INTERESTS |
Members Capital |
The basis on which Members are invited to subscribe for capital is set out in the Members' Agreement. There is no unconditional obligation on the LLP to repay capital unless instructed by the Members. |
The Members may draw such sums as they unanimously agree from time to time on account of profit. If any Member withdraws funds in excess of his profit share for an accounting year, that Member shall repay the excess drawings to the LLP immediately together with interest on the excess at an interest rate of 3% above the base lending rate. |
Member' profit share |
ESPA Property Trading LLP does not have any Members whose remuneration is classed as an expense. |
Profits/losses are allocated to Members in line with the agreed proportions as set out in the Members agreement. All profits are allocated to Mr C R Topham and all losses will be borne by Mr C R Topham. |
ON BEHALF OF THE MEMBERS: |
ESPA Property Trading LLP (Registered number: OC338818) |
Income Statement |
for the Year Ended 31 March 2025 |
2025 | 2024 |
£ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses | ( |
) |
OPERATING PROFIT/(LOSS) and |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
ESPA Property Trading LLP (Registered number: OC338818) |
Balance Sheet |
31 March 2025 |
2025 | 2024 |
Notes | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 906,062 | 1,011,326 |
LOANS AND OTHER DEBTS DUE TO MEMBERS | 7 | 245,303 | 105,567 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 660,759 | 905,759 |
906,062 | 1,011,326 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 245,303 | 105,567 |
Members' other interests | 660,759 | 905,759 |
906,062 | 1,011,326 |
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 were approved by the members of the LLP and authorised for issue on |
ESPA Property Trading LLP (Registered number: OC338818) |
Notes to the Financial Statements |
for the Year Ended 31 March 2025 |
1. | STATUTORY INFORMATION |
ESPA Property Trading LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents received excluding value added tax and is recognised in the period to which it relates. |
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. |
Revenue recognition |
Revenue in respect of the sale of land and property is recognised on legal completion. Any non-refundable monies received on aborted contracts are treated as income in the year of abortion of contract. |
Revenue in respect of rental income is recognised in the period to which it relates. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2024 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2024 |
Disposals | ( |
) |
At 31 March 2025 |
DEPRECIATION |
At 1 April 2024 | 176,648 |
Impairments | (113,606 | ) |
At 31 March 2025 | 63,042 |
NET BOOK VALUE |
At 31 March 2025 |
At 31 March 2024 |
ESPA Property Trading LLP (Registered number: OC338818) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Amounts owed by related |
parties | 5,000 | - |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Deferred income |
Accrued expenses |
7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
In the case of a winding up, the amounts due to members would be settled after other third party creditors. |