Limited Liability Partnership registration number OC401785 (England and Wales)
M&T PROPERTY ESTATES LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
M&T PROPERTY ESTATES LLP
LIMITED LIABILITY PARTNERSHIP INFORMATION
Designated members
T Farber
Carltane (International) Limited
Y Abramson
LLP registration number
OC401785
Registered office
Grafix House
Boundary Road
swinton
Manchester
M27 4EQ
Accountants
M J Goldman (Chartered Accountants)
Hollinwood Business Centre
Albert Street
Oldham
Lancashire
OL8 3QL
M&T PROPERTY ESTATES LLP
CONTENTS
Page
Balance sheet
1 - 2
Reconciliation of members' interests
3 - 4
Notes to the financial statements
5 - 8
M&T PROPERTY ESTATES LLP
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,582
5,582
Investment property
4
2,715,000
2,675,000
2,720,582
2,680,582
Current assets
Debtors
5
37,580
35,201
Cash at bank and in hand
21,834
55,821
59,414
91,022
Creditors: amounts falling due within one year
6
(119,304)
(119,833)
Net current liabilities
(59,890)
(28,811)
Total assets less current liabilities
2,660,692
2,651,771
Creditors: amounts falling due after more than one year
7
(511,559)
(608,997)
Net assets attributable to members
2,149,133
2,042,774
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
372,536
306,177
Other amounts
1,307
1,307
373,843
307,484
Members' other interests
Fair value reserve
1,775,290
1,735,290
2,149,133
2,042,774
M&T PROPERTY ESTATES LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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 29 August 2025 and are signed on their behalf by:
29 August 2025
T Farber
Designated member
Limited Liability Partnership registration number OC401785 (England and Wales)
M&T PROPERTY ESTATES LLP
RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
Current financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2025
£
£
£
£
£
£
Amounts due to members
307,484
Members' interests at 1 April 2024
1,735,290
-
1,735,290
307,484
307,484
2,042,774
Profit for the financial year available for discretionary division among members
-
346,359
346,359
-
-
346,359
Members' interests after profit for the year
1,735,290
346,359
2,081,649
307,484
307,484
2,389,133
Allocation of profit for the financial year
-
(346,359)
(346,359)
346,359
346,359
-
Surplus arising on revaluation of fixed assets
40,000
-
40,000
-
-
40,000
Drawings
-
-
-
(280,000)
(280,000)
(280,000)
Members' interests at 31 March 2025
1,775,290
-
1,775,290
373,843
373,843
2,149,133
M&T PROPERTY ESTATES LLP
RECONCILIATION OF MEMBERS' INTERESTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
Prior financial year
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Revaluation
reserve
Other reserves
Total
Other amounts
Total
Total
2024
£
£
£
£
£
£
Amounts due to members
191,793
Members' interests at 1 October 2022
1,379,374
-
1,379,374
191,793
191,793
1,571,167
Profit for the financial year available for discretionary division among members
-
535,691
535,691
-
-
535,691
Members' interests after profit for the period
1,379,374
535,691
1,915,065
191,793
191,793
2,106,858
Allocation of profit for the period
-
(535,691)
(535,691)
535,691
535,691
-
Surplus arising on revaluation of fixed assets
355,916
-
355,916
-
-
355,916
Drawings
-
-
-
(420,000)
(420,000)
(420,000)
Members' interests at 31 March 2024
1,735,290
-
1,735,290
307,484
307,484
2,042,774
M&T PROPERTY ESTATES LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Limited liability partnership information

M&T Property Estates LLP is a limited liability partnership incorporated in England and Wales. The registered office is Grafix House, Boundary Road, swinton, Manchester, M27 4EQ.

 

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

1.1
Reporting period

The previous accounting period was an 18 month period, therefore the comparative amounts are not entirely comparable.

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 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.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Rental income is recognised on an accruals basis.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

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.

1.4
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.

M&T PROPERTY ESTATES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -

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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.6
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.

1.7
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.

1.8
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.

 

Creditors payable after one year constitutes a commercial business loan with a market rate of interest being applied. This is recognised in full.

2
Employees

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

2025
2024
Number
Number
Total
-
0
-
0
M&T PROPERTY ESTATES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
5,582
Depreciation and impairment
At 1 April 2024 and 31 March 2025
-
Carrying amount
At 31 March 2025
5,582
At 31 March 2024
5,582
4
Investment property
2025
£
Fair value
At 1 April 2024
2,675,000
Net gains or losses through fair value adjustments
40,000
At 31 March 2025
2,715,000

Investment property comprises 2 properties held at fair value. The fair value of the investment property has been arrived at on the basis of valuations carried out at 31 March 2025 by Martin & Co (Manchester Prestwich), who are not connected with the limited liability partnership, and the members. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

Investment Properties with a carrying amount of £2,190,000 have been pledged to secure borrowings of the company. The LLP is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
37,235
35,201
Other debtors
345
-
37,580
35,201
M&T PROPERTY ESTATES LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
97,440
97,440
Trade creditors
7,500
7,500
Taxation and social security
12,364
12,499
Other creditors
2,000
2,394
119,304
119,833
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
511,559
608,997

The bank facilities, provided by Barclays Bank PLC, are secured by a fixed charge over the investment property, together with a first fixed and floating charge over all other assets of the company, both present and future. In respect of Investment Properties, the security given on the mortgage has priority over the charge secured on the bank facilities.

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.

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