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REGISTERED NUMBER: OC417449 (England and Wales)










Financial Statements

for the Period 30 March 2023 to 28 March 2024

for

Albion Property Group LLP

Albion Property Group LLP (Registered number: OC417449)






Contents of the Financial Statements
for the Period 30 March 2023 to 28 March 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Albion Property Group LLP

General Information
for the Period 30 March 2023 to 28 March 2024







DESIGNATED MEMBERS: S Parrott
Amesbridge Limited





REGISTERED OFFICE: 39 York Road
Northampton
United Kingdom
NN1 5QJ





REGISTERED NUMBER: OC417449 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

Albion Property Group LLP (Registered number: OC417449)

Balance Sheet
28 March 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 36,844 33,783
Investment property 5 9,857,044 11,631,110
9,893,888 11,664,893

Current assets
Debtors 6 819 27,527
Cash at bank and in hand 15,477 15,159
16,296 42,686
Creditors
Amounts falling due within one year 7 (130,379 ) (57,693 )
Net current liabilities (114,083 ) (15,007 )
Total assets less current liabilities 9,779,805 11,649,886

Creditors
Amounts falling due after more than one year 8 (4,257,683 ) (4,285,285 )
Net assets attributable to members 5,522,122 7,364,601

Loans and other debts due to members 10 5,522,122 7,364,601

Total members' interests
Loans and other debts due to members 10 5,522,122 7,364,601

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 period ended 28 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.

Albion Property Group LLP (Registered number: OC417449)

Balance Sheet - continued
28 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 27 June 2025 and were signed by:





S Parrott - Designated member

Albion Property Group LLP (Registered number: OC417449)

Notes to the Financial Statements
for the Period 30 March 2023 to 28 March 2024

1. STATUTORY INFORMATION

Albion Property Group 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 25% on reducing balance

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - 2 ).

Albion Property Group LLP (Registered number: OC417449)

Notes to the Financial Statements - continued
for the Period 30 March 2023 to 28 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 30 March 2023 39,334 2,015 3,010 - 44,359
Additions 12,725 823 - 1,140 14,688
At 28 March 2024 52,059 2,838 3,010 1,140 59,047
DEPRECIATION
At 30 March 2023 8,141 160 2,275 - 10,576
Charge for period 10,625 567 245 190 11,627
At 28 March 2024 18,766 727 2,520 190 22,203
NET BOOK VALUE
At 28 March 2024 33,293 2,111 490 950 36,844
At 29 March 2023 31,193 1,855 735 - 33,783

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 March 2023 11,631,110
Additions 36,242
Disposals (692,308 )
Revaluations (1,118,000 )
At 28 March 2024 9,857,044
NET BOOK VALUE
At 28 March 2024 9,857,044
At 29 March 2023 11,631,110

Fair value at 28 March 2024 is represented by:
£   
Valuation in 2024 (1,118,000 )
Cost 10,975,044
9,857,044

Albion Property Group LLP (Registered number: OC417449)

Notes to the Financial Statements - continued
for the Period 30 March 2023 to 28 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 819 12,402
Other debtors - 3,949
Provision for doubtful account - 9,672
Prepayments - 1,504
819 27,527

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,903 10,758
Trade creditors 14,389 1,659
Provision for doubtful debts - 10,000
Social security and other taxes 2,235 6,239
Other creditors 69,819 -
Due to Greatlets 15,638 27,247
Deposits 15,441 -
Accrued expenses 1,954 1,790
130,379 57,693

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 60,822 71,752
Mortgages 4,196,861 4,213,533
4,257,683 4,285,285

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 4,196,861 4,213,533

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.