Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-3142024-04-01falseProperty investment4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC318467 2024-04-01 2025-03-31 OC318467 2023-04-01 2024-03-31 OC318467 2025-03-31 OC318467 2024-03-31 OC318467 c:FreeholdInvestmentProperty 2025-03-31 OC318467 c:FreeholdInvestmentProperty 2024-03-31 OC318467 c:FreeholdInvestmentProperty 2 2024-04-01 2025-03-31 OC318467 c:CurrentFinancialInstruments 2025-03-31 OC318467 c:CurrentFinancialInstruments 2024-03-31 OC318467 c:Non-currentFinancialInstruments 2025-03-31 OC318467 c:Non-currentFinancialInstruments 2024-03-31 OC318467 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC318467 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC318467 c:Non-currentFinancialInstruments c:AfterOneYear 2025-03-31 OC318467 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC318467 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2025-03-31 OC318467 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC318467 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2025-03-31 OC318467 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC318467 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2025-03-31 OC318467 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 OC318467 e:FRS102 2024-04-01 2025-03-31 OC318467 e:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC318467 e:FullAccounts 2024-04-01 2025-03-31 OC318467 e:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC318467 2 2024-04-01 2025-03-31 OC318467 5 2024-04-01 2025-03-31 OC318467 e:PartnerLLP3 2024-04-01 2025-03-31 OC318467 c:OtherCapitalInstrumentsClassifiedAsEquity 2025-03-31 OC318467 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC318467 c:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 OC318467 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC318467 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC318467 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC318467 f:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: OC318467










REX PROCTER & PARTNERS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
REX PROCTER & PARTNERS LLP
REGISTERED NUMBER: OC318467

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Investment property
 4 
1,295,000
1,260,000

  
1,295,000
1,260,000

Current assets
  

Debtors: amounts falling due within one year
  
12,778
-

Cash at bank and in hand
  
85,819
92,018

  
98,597
92,018

Creditors: Amounts Falling Due Within One Year
 6 
(44,398)
(42,028)

Net current assets
  
 
 
54,199
 
 
49,990

Total assets less current liabilities
  
1,349,199
1,309,990

Creditors: amounts falling due after more than one year
 7 
(336,020)
(378,984)

  
1,013,179
931,006

  

Net assets
  
1,013,179
931,006


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
877,435
830,262

  
877,435
830,262

Members' other interests
  

Members' capital classified as equity
  
100
100

Revaluation reserve classified as equity
  
135,644
100,644

  
 
135,744
 
100,744

  
1,013,179
931,006


Total members' interests
  

Loans and other debts due to members
 9 
877,435
830,262

Members' other interests
  
135,744
100,744

  
1,013,179
931,006

Page 1

 
REX PROCTER & PARTNERS LLP
REGISTERED NUMBER: OC318467
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




Mr G McGeough
Designated member

Date: 16 July 2025

The notes on pages 4 to 8 form part of these financial statements.

Rex Procter & Partners LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.
Page 2

 
REX PROCTER & PARTNERS LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2025







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Revaluation reserve
Total
Other amounts
Total
Total

£
£
£
£
£
£

Members' interests after profit for the year
100
100,644
100,744
789,037
789,037
889,781

Other division of profits
-
-
-
41,225
41,225
41,225

Amounts due to members
830,262
830,262

Balance at 31 March 2024
100
100,644
100,744
830,262
830,262
931,006

Members' interests after profit for the year
100
100,644
100,744
830,262
830,262
931,006

Other division of profits
-
-
-
47,173
47,173
47,173

Movement in reserves
-
35,000
35,000
-
-
35,000

Amounts due to members
877,435
877,435

Balance at 31 March 2025 
100
135,644
135,744
877,435
877,435
1,013,179

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
REX PROCTER & PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Rex Procter & Partners LLP is a private Limited Liability Partnership and is registered in England and Wales (OC318467). The registered office address is Quarry Wood House, Station Approach, Marlow, Buckinghamshire, SL7 1NT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the rental of property is recognised in the period in which the rental income relates in accordance with the rental agreement. Rent receivable is invoiced monthly at the beginning of the month for which the rental income relates.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
REX PROCTER & PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2024 - 4).

Page 5

 
REX PROCTER & PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
1,260,000


Surplus on revaluation
35,000



At 31 March 2025
1,295,000

The 2025 valuations were made by members, on an open market value for existing use basis.







5.


Debtors

2025
2024
£
£


Trade debtors
12,778
-

12,778
-



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
37,551
36,130

Other taxation and social security
1,347
1,348

Accruals and deferred income
5,500
4,550

44,398
42,028


Page 6

 
REX PROCTER & PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
336,020
378,984


The following liabilities were secured:

2025
2024
£
£



Bank loans
373,571
415,114

Details of security provided:

There is a legal charge over Quarrywood House, Station Approach, Marlow, Buckinghamshire amounting to £144,312 (2024: £160,856).
The members guarantee £229,258 (2024: £254,258) of the outstanding bank loan balance.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2025
2024
£
£


Repayable by instalments
16,558
40,205

Repayable other than by instalments
169,259
194,258

185,817
234,463



Page 7

 
REX PROCTER & PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

8.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
37,551
36,130

Amounts falling due 1-2 years

Bank loans
37,551
36,130

Amounts falling due 2-5 years

Bank loans
112,652
108,391

Amounts falling due after more than 5 years

Bank loans
185,817
234,463

373,571
415,114



9.


Loans and other debts due to members


2025
2024
£
£



Other amounts due to members
877,435
830,262

Loans and other debts due to members may be further analysed as follows:

2025
2024
£
£



Falling due within one year
877,435
830,262

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 8