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REGISTERED NUMBER: OC420266 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

KEEPFIRM PROPERTIES LLP

KEEPFIRM PROPERTIES LLP (REGISTERED NUMBER: OC420266)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

General Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


KEEPFIRM PROPERTIES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DESIGNATED MEMBERS: Mr M S Goddard
Mrs E L Goddard





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: OC420266 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

KEEPFIRM PROPERTIES LLP (REGISTERED NUMBER: OC420266)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,631,001 2,631,001

CURRENT ASSETS
Debtors 5 2,287 4,006
Cash at bank 24,345 39,941
26,632 43,947
CREDITORS
Amounts falling due within one year 6 12,159 15,016
NET CURRENT ASSETS 14,473 28,931
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,645,474

2,659,932

CREDITORS
Amounts falling due after more than one
year

7

1,488,226

1,487,354
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,157,248

1,172,578

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

289,344

295,897

MEMBERS' OTHER INTERESTS
Capital accounts 514,350 523,127
Fair value reserve 11 405,762 405,762
Unallocated losses 11 (52,208 ) (52,208 )
1,157,248 1,172,578

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 289,344 295,897
Members' other interests 867,904 876,681
1,157,248 1,172,578

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 31 March 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.

KEEPFIRM PROPERTIES LLP (REGISTERED NUMBER: OC420266)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 23 July 2025 and were signed by:




Mr M S Goddard - Designated member




Mrs E L Goddard - Designated member


KEEPFIRM PROPERTIES LLP (REGISTERED NUMBER: OC420266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Keepfirm Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the value of rental income chargeable in respect of the LLP's investment property. Turnover is recognised evenly over the period of the rental agreement.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would no give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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
and 31 March 2025 2,631,001
NET BOOK VALUE
At 31 March 2025 2,631,001
At 31 March 2024 2,631,001

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2025 2,631,001

If investment property had not been revalued it would have been included at the following historical cost:

2025 2024
£    £   
Cost 2,225,241 2,225,241

Investment property was valued on fair value basis on 31 March 2025 by the members .

KEEPFIRM PROPERTIES LLP (REGISTERED NUMBER: OC420266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 2,287 4,006

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other creditors 12,159 15,016

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans (see note 8) 1,488,226 1,487,354

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,488,226 1,487,354

8. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans 1,488,226 1,487,354

9. SECURED DEBTS

The following secured debts are included within creditors:

2025 2024
£    £   
Bank loans 1,488,226 1,487,354

The loans are secured by way of fixed and floating charges over the investment properties of the Partnership.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other creditors on a winding up.

11. RESERVES
Fair
value Unallocated
reserve losses Totals
£    £    £   
At 1 April 2024 405,762 (52,208 ) 353,554
At 31 March 2025 405,762 (52,208 ) 353,554