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REGISTERED NUMBER: OC387722 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 5 April 2025

for

Ourgaffs LLP

Ourgaffs LLP (Registered number: OC387722)

Contents of the Financial Statements
for the Year Ended 5 April 2025










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ourgaffs LLP

General Information
for the Year Ended 5 April 2025







DESIGNATED MEMBERS: G G J Pollard
Mrs F T Pollard
Ourgaffs Investment Limited





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC387722 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Ourgaffs LLP (Registered number: OC387722)

Balance Sheet
5 April 2025

5.4.25 5.4.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 112,410 -
Investment property 5 2,865,000 2,779,394
2,977,410 2,779,394

CURRENT ASSETS
Debtors 6 15,183 58,402
Cash at bank 819,562 577,526
834,745 635,928
CREDITORS
Amounts falling due within one year 7 31,383 24,824
NET CURRENT ASSETS 803,362 611,104
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

3,780,772

3,390,498

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

313,033

-

MEMBERS' OTHER INTERESTS
Capital accounts 3,467,739 3,390,498
3,780,772 3,390,498

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 313,033 -
Members' other interests 3,467,739 3,390,498
3,780,772 3,390,498

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 5 April 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.

Ourgaffs LLP (Registered number: OC387722)

Balance Sheet - continued
5 April 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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 10 July 2025 and were signed by:





G G J Pollard - Designated member

Ourgaffs LLP (Registered number: OC387722)

Notes to the Financial Statements
for the Year Ended 5 April 2025


1. STATUTORY INFORMATION

Ourgaffs 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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover represents rental income net of value added tax. Rental income is recognised on an accruals basis in accordance with the substance of the relevant agreement.

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 etc - 20% 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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Ourgaffs LLP (Registered number: OC387722)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Provision for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 124,900
At 5 April 2025 124,900
DEPRECIATION
Charge for year 12,490
At 5 April 2025 12,490
NET BOOK VALUE
At 5 April 2025 112,410

Ourgaffs LLP (Registered number: OC387722)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2024 2,779,394
Disposals (500,000 )
Revaluations 585,606
At 5 April 2025 2,865,000
NET BOOK VALUE
At 5 April 2025 2,865,000
At 5 April 2024 2,779,394

Investment property has been valued by the designated members and is disclosed at open market value.

Fair value at 5 April 2025 is represented by:
£   
Valuation in 2025 585,606
Cost 2,279,394
2,865,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.25 5.4.24
£    £   
Other debtors 15,183 58,402

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.25 5.4.24
£    £   
Other creditors 31,383 24,824

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally to other creditors