Limited Liability Partnership registration number OC450937 (England and Wales)
TRIFOLIUM PROPERTY LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 09 FEBRUARY 2024 TO 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
TRIFOLIUM PROPERTY LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
TRIFOLIUM PROPERTY LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
Notes
£
£
Fixed assets
Investment property
4
3,627,000
Current assets
Debtors
5
51,308
Cash at bank and in hand
34,071
85,379
Creditors: amounts falling due within one year
6
(11,379)
Net current assets
74,000
Total assets less current liabilities and net assets attributable to members
3,701,000
Represented by:
Loans and other debts due to members within one year
7
Other amounts
3,698,000
Members' other interests
7
Members' capital classified as equity
3,000
3,701,000
Total members' interests
7
Amounts due from members
(48,529)
Loans and other debts due to members
3,698,000
Members' other interests
3,000
3,652,471
TRIFOLIUM PROPERTY LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
For the financial period 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 28 August 2025 and are signed on their behalf by:
28 August 2025
V Lee
Designated member
Limited Liability Partnership registration number OC450937 (England and Wales)
TRIFOLIUM PROPERTY LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Limited liability partnership information
Trifolium Property LLP is a limited liability partnership incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.
The limited liability partnership's principal activities are disclosed in the Members' Report.
1.1
Reporting period
This is the first time the limited liability partnership has presented its financial statements since its incorporation. Hence the financial statements presented are for the period of more than twelve months with no comparatives.
1.2
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 investment properties at fair value. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover represents the amounts receivable for property rental services.
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
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 measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, are 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.
TRIFOLIUM PROPERTY LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 4 -
2
Employees
The average number of persons (excluding members) employed by the partnership during the period was: 0.
3
Information in relation to members
2025
Number
Average number of members during the period
3
4
Investment property
2025
£
Fair value
At 9 February 2024
-
Additions
3,701,000
Revaluations
(74,000)
At 31 March 2025
3,627,000
The investment properties were acquired by the limited liability partnership on 26 March 2024.
The investment properties have been revalued, based on the members' valuation to reflect their open market value as at the balance sheet date. The valuations were made by reference to market evidence of transaction prices for similar properties. The historical cost of investment property amounts to £3,701,000.
5
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
203
Amounts owed by members
48,529
Other debtors
2,576
51,308
6
Creditors: amounts falling due within one year
2025
£
Trade creditors
264
Other creditors
11,115
11,379
TRIFOLIUM PROPERTY LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -
7
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital
Other reserves
Total
Other amounts
Total
Total
2025
£
£
£
£
£
£
Members' interests at 9 February 2024
-
-
-
-
-
-
Profit for the period available for discretionary division among members
-
6,791
6,791
-
-
6,791
Members' interests after profit for the period
-
6,791
6,791
-
-
6,791
Allocation of profit for the period
-
(6,791)
(6,791)
6,791
6,791
-
Introduced by members
3,000
-
3,000
3,698,000
3,698,000
3,701,000
Other movements
-
-
-
(55,320)
(55,320)
(55,320)
Members' interests at 31 March 2025
3,000
-
3,000
3,649,471
3,649,471
3,652,471
Amounts due to members
3,698,000
Amounts due from members, included in debtors
(48,529)
3,649,471
TRIFOLIUM PROPERTY LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 6 -
8
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.