Limited Liability Partnership registration number OC446234 (England and Wales)
HOME OF SOCIAL ENTERPRISE LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HOME OF SOCIAL ENTERPRISE LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
School for Social Entrepreneurs
Social Enterprise Coalition CIC
LLP registration number
OC446234
Registered office
13-15 Dock Street
London
E1 8JN
Accountants
Sam Rogoff & Co Ltd
3rd Floor
Great Titchfield House
14-18 Great Titchfield Street
London
W1W 8BD
HOME OF SOCIAL ENTERPRISE LLP
CONTENTS
Page
Members' report
1 - 2
Accountants' report
3
Balance sheet
4 - 5
Notes to the financial statements
6 - 10
HOME OF SOCIAL ENTERPRISE LLP
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The members present their annual report and financial statements for the year ended 31.03.2025.

Principal activities

Formation and Period Covered

Home of Social Enterprise LLP (HoSE LLP) was formed on 10th March 2023 as a Limited Liability Partnership.

These accounts cover the period 1st April 2024 - 31st March 2025, representing our first full year of operation.

 

Purpose and Structure

HoSE LLP was established as a Joint Venture between two prominent social organisations: the School for Social Entrepreneurs (SSE), a registered charity, and Social Enterprise Coalition trading as Social Enterprise UK (SEUK), a Community Interest Company limited by guarantee. The primary purpose of this partnership is to acquire and operate a Home for Social Enterprise in London.

This facility provides a dedicated space for training and supporting social enterprises, and offering a collaborative environment for our combined members and the wider social enterprise sector.

 

Note on Trading

On 14th December 2023, we successfully acquired the 13-15 Dock Street E1 8JN building, which marked the commencement of our trading activities. On day one of trading, we acquired two ongoing tenancies in the building; on the first and second floors.

In March 2024 we took on new tenants; two leading social sector organisations who are sharing a lease on the ground floor of the building. This arrangement continued into 2024/25 and the acquisition remains a significant milestone in realising our vision for a central hub for the social enterprise sector in London.

 

Financial Performance

The accounts show a small loss for this first full year of operation. This outcome is primarily attributable to the tenant vacancies, with the first and second floors becoming vacant in autumn 2024. These factors combined to limit our revenue-generating capacity during this first full year.

Going Concern

Despite the small loss, the Board remains confident in the LLP's status as a going concern. This confidence is based on projections for our second full year of trading, a new estate agent and clearer operational costs which indicate a strong potential for profitability.

Members' drawings, contributions and repayments

The members' drawing policy allows each member to draw a proportion of their profit share, subject to the cash requirements of the business.

 

A member's capital requirement is linked to their share of profit and the financing requirement of the limited liability partnership. There is no opportunity for appreciation of the capital subscribed. Just as incoming members introduce their capital at "par", so the retiring members are repaid their capital at "par".

Designated members

The designated members who held office during the year and up to the date of signature of the financial statements were as follows:

School for Social Entrepreneurs
Social Enterprise Coalition CIC
Energy and carbon report

As the LLP has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

Small LLPs exemption

This report has been prepared in accordance with the special provisions relating to small LLPs within Part 15 of the Companies Act 2006.

HOME OF SOCIAL ENTERPRISE LLP
MEMBERS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
Approved by the members on 25 July 2025 and signed on behalf by:
25 July 2025
Social Enterprise Coalition CIC
Designated Member
HOME OF SOCIAL ENTERPRISE LLP
ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOME OF SOCIAL ENTERPRISE LLP FOR THE YEAR ENDED 31 MARCH 2025
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Home of Social Enterprise LLP for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the limited liability partnership’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the limited liability partnership's members of Home of Social Enterprise LLP, as a body, in accordance with the terms of our engagement letter dated 24 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Home of Social Enterprise LLP and state those matters that we have agreed to state to the limited liability partnership's members of Home of Social Enterprise LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Home of Social Enterprise LLP and its members as a body, for our work or for this report.

It is your duty to ensure that Home of Social Enterprise LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Home of Social Enterprise LLP. You consider that Home of Social Enterprise LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Home of Social Enterprise LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sam Rogoff & Co Ltd
28 July 2025
Chartered Accountants
3rd Floor
Great Titchfield House
14-18 Great Titchfield Street
London
W1W 8BD
HOME OF SOCIAL ENTERPRISE LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
3,107,802
3,107,802
Current assets
Debtors
5
30,509
27,024
Cash at bank and in hand
43,647
48,540
74,156
75,564
Creditors: amounts falling due within one year
6
(73,152)
(117,924)
Net current assets/(liabilities)
1,004
(42,360)
Total assets less current liabilities
3,108,806
3,065,442
Creditors: amounts falling due after more than one year
7
(2,106,849)
(2,101,661)
Net assets attributable to members
1,001,957
963,781
Represented by:
Loans and other debts due to members within one year
Other amounts
15,765
11,523
Members' other interests
Members' capital classified as equity
1,003,831
973,831
Other reserves classified as equity
(17,639)
(21,573)
1,001,957
963,781
HOME OF SOCIAL ENTERPRISE LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 5 -

For the financial year ended 31 March 2025 the limited liability partnership 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 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 25 July 2025 and are signed on their behalf by:
25 July 2025
Social Enterprise Coalition CIC
Designated member
Limited Liability Partnership registration number OC446234 (England and Wales)
HOME OF SOCIAL ENTERPRISE LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
1
Accounting policies
Limited liability partnership information

Home of Social Enterprise LLP is a limited liability partnership incorporated in England and Wales. The registered office is 13-15 Dock Street, London, E1 8JN.

 

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the Limited Liability Partnership), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the balance sheet date are carried forward as work in progress.

1.3
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

 

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Undivided amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members’ interests.

 

Where there exists an asset and liability component in respect of an individual member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts, and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

HOME OF SOCIAL ENTERPRISE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

 

 

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

HOME OF SOCIAL ENTERPRISE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 8 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the limited liability partnership is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HOME OF SOCIAL ENTERPRISE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Total
0
0
4
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
3,107,802

Investment property comprises the commercial unit 13-15 Dock Street, London E1 8JN. The property was purchased in the year ended 31st March 2024 and the amount paid was the Fair Value at the balance sheet date.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
20,600
27,024
Other debtors
9,909
-
30,509
27,024
HOME OF SOCIAL ENTERPRISE LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,889
10,272
Taxation and social security
10,798
17,108
Other creditors
58,465
90,544
73,152
117,924
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,950,000
1,950,000
Other creditors
156,849
151,661
2,106,849
2,101,661

The long-term loans are secured by fixed charges over the Freehold property 13-15 Dock Street, London E1 8JN

8
Deferred income
2025
2024
£
£
Other deferred income
54,527
41,443
9
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

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