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REGISTERED NUMBER: OC373545 (England and Wales)















Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Morondava Property LLP

Morondava Property LLP (Registered number: OC373545)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

General Information 1

Report of the Members 2

Profit and Loss Account 3

Other Comprehensive Income 4

Abridged Balance Sheet 5

Reconciliation of Members' Interests 7

Notes to the Financial Statements 9


Morondava Property LLP

General Information
for the Year Ended 31 March 2025







DESIGNATED MEMBERS: Mr M Bellamy
Mrs G Bellamy





REGISTERED OFFICE: Suite 3
Falcon Court Business Centre
College Road
Maidstone
Kent
ME15 6TF





REGISTERED NUMBER: OC373545 (England and Wales)





ACCOUNTANTS: Skyfire Accountancy Ltd
The Old Rectory
Springhead Road
Northfleet
Kent
DA11 8HN

Morondava Property LLP (Registered number: OC373545)

Report of the Members
for the Year Ended 31 March 2025

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of rental of property.

DESIGNATED MEMBERS
The designated members during the year under review were:

Mr M Bellamy
Mrs G Bellamy

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £14,846 (2024 - £96,817 loss).

MEMBERS' INTERESTS
Members are permitted to make drawings in anticipation of profits that are due to them after the consideration of the working capital requirements of the Limited Liability Partnership and other regulatory requirements.

The profits are shared between the members on a pre-agreed basis after taking into account many varying factors. Any transfers between members or members' accounts have been agreed by the relevant members involved.

Capital introduced from new members as subscribed capital and the repayment of the capital is set at the appointment date by agreement of the new member and the existing members. Capital introduced during the course of the business by existing members is due to be repaid in full with no interest charged to the Limited Liability Partnership.

This report has been prepared in accordance with the special provisions of Part 15 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 small LLPs.

ON BEHALF OF THE MEMBERS:





Mr M Bellamy - Designated member


18 August 2025

Morondava Property LLP (Registered number: OC373545)

Profit and Loss Account
for the Year Ended 31 March 2025

31.3.25 31.3.24
£    £   

TURNOVER 7,500 5,422

Cost of sales 1,620 334
GROSS PROFIT 5,880 5,088

Administrative expenses 5,095 31,557
OPERATING PROFIT/(LOSS) 785 (26,469 )

Gain/loss on revaluation of assets - (60,000 )
785 (86,469 )

Interest payable and similar expenses 15,631 10,348
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(14,846




)




(96,817




)

Morondava Property LLP (Registered number: OC373545)

Other Comprehensive Income
for the Year Ended 31 March 2025

31.3.25 31.3.24
Notes £    £   

LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS




(14,846




)




(96,817




)


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(14,846

)

(96,817

)

Morondava Property LLP (Registered number: OC373545)

Abridged Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 450 529
Investment property 6 390,000 390,000
390,450 390,529

CURRENT ASSETS
Debtors 203 191
Cash at bank 262 428
465 619
CREDITORS
Amounts falling due within one year 2,800 2,800
NET CURRENT LIABILITIES (2,335 ) (2,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,115

388,348

CREDITORS
Amounts falling due after more than one
year

7

214,896

217,781
NET ASSETS ATTRIBUTABLE TO
MEMBERS

173,219

170,567

Morondava Property LLP (Registered number: OC373545)

Abridged Balance Sheet - continued
31 March 2025

31.3.25 31.3.24
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

40,219

37,567

MEMBERS' OTHER INTERESTS
Fair value reserve 133,000 133,000
173,219 170,567

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 40,219 37,567
Members' other interests 133,000 133,000
173,219 170,567

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) 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 financial statements were approved by the members of the LLP and authorised for issue on 18 August 2025 and were signed by:




Mr M Bellamy - Designated member




Mrs G Bellamy - Designated member


Morondava Property LLP (Registered number: OC373545)

Reconciliation of Members' Interests
for the Year Ended 31 March 2025


EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 37,567
Amount due from members -
Balance at 1 April 2024 133,000 37,567 170,567
Loss for the financial year
available for discretionary
division among members


(14,846


)


-


(14,846


)


Members' interests after loss for
the year

118,154

37,567

155,721

Other divisions of loss 14,846 (14,846 ) -
Introduced by members - 20,748 20,748
Drawings on account and
distributions of profit

-

(3,250

)

(3,250

)

Amount due to members 40,219
Amount due from members -
Balance at 31 March 2025 133,000 40,219 173,219

Morondava Property LLP (Registered number: OC373545)

Reconciliation of Members' Interests
for the Year Ended 31 March 2025

EQUITY DEBT TOTAL
Members' Loans and other debts due to MEMBERS'
other members less any amounts due INTERESTS
interests from members in debtors

Other Other
reserves amounts Total
£    £    £   
Amount due to members 82,893
Amount due from members -
Balance at 1 April 2023 250,000 82,893 332,893
Loss for the financial year
available for discretionary
division among members


(96,817


)


-


(96,817


)


Members' interests after loss for
the year

153,183

82,893

236,076

Other divisions of loss 96,817 (96,817 ) -
Reserve transfer (117,000 ) - (117,000 )
Introduced by members - 132,179 132,179
Drawings on account and
distributions of profit

-

(80,688

)

(80,688

)

Amount due to members 37,567
Amount due from members -
Balance at 31 March 2024 133,000 37,567 170,567

Protection is afforded to secured creditors in the event of a winding-up of the LLP, which is legally enforceable and cannot be revoked at will by the members.

Morondava Property LLP (Registered number: OC373545)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Morondava Property 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of services in the ordinary course of the LLP's activities. Sales are presented, net of value-added tax, rebates and discounts.

The LLP recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities as follows:

Rental income from operating leases (net of any incentives given to the lessees) is recognised when the right to receive payment is established.

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 - 15% on reducing balance
Computer equipment - 33% on cost

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.

4. EMPLOYEE INFORMATION


Morondava Property LLP (Registered number: OC373545)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2024
and 31 March 2025 2,344
DEPRECIATION
At 1 April 2024 1,815
Charge for year 79
At 31 March 2025 1,894
NET BOOK VALUE
At 31 March 2025 450
At 31 March 2024 529

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024
and 31 March 2025 390,000
NET BOOK VALUE
At 31 March 2025 390,000
At 31 March 2024 390,000

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2017 195,916
Valuation in 2018 20,000
Valuation in 2019 75,000
Valuation in 2021 33,000
Valuation in 2022 82,000
Valuation in 2024 (198,903 )
Cost 182,987
390,000

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

31.3.25 31.3.24
£    £   
Cost 182,987 182,987

Investment property was valued on an open market basis on 11 March 2025 by CMME .

Morondava Property LLP (Registered number: OC373545)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.3.25 31.3.24
£    £   
Repayable otherwise than by instalments
Mortgage 211,863 211,948

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
£    £   
Bank loans 217,696 220,581

The bank loans are secured against the properties held within investment properties.