Vinyl Partners LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC399714 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Vinyl Partners LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C M Makin

M D Makin

REGISTERED OFFICE:

Stephanie Works

Chinley

High Peak

SK23 6BT

REGISTERED NUMBER:

OC399714 (England and Wales)

ACCOUNTANTS:

Pareto Tax & Wealth LLP

The Old Schoolhouse

5-7 Byrom Street

Manchester

M3 4PF

FIXED ASSETS

Tangible assets

4

-

Investment property

5

4,679,755

CURRENT ASSETS

Debtors

6

21,609

6,667

Cash at bank

17,745

107,693

39,354

114,360

CREDITORS

Amounts falling due within one year

7

512,412

486,480

NET CURRENT LIABILITIES

(473,058

)

(372,120

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,206,697

4,307,635

CREDITORS

Amounts falling due after more than one
year

8

3,497,282

3,656,613

NET ASSETS ATTRIBUTABLE TO
MEMBERS

709,415

651,022

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

534,570

476,177

MEMBERS' OTHER INTERESTS

Capital accounts

174,845

709,415

651,022

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

534,570

476,177

Members' other interests

174,845

709,415

651,022

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 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 9 September 2025 and were signed by:

C M Makin - Designated member

1.	STATUTORY INFORMATION

Vinyl Partners 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

20% 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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

19,133

DEPRECIATION

At 1 April 2024

and 31 March 2025

19,133

NET BOOK VALUE

At 31 March 2025

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

4,679,755

NET BOOK VALUE

At 31 March 2025

4,679,755

At 31 March 2024

4,679,755

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other debtors

21,609

6,667

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

164,712

Trade creditors

202,403

5,887

Taxation and social security

1,905

32,985

Other creditors

143,392

282,896

512,412

486,480

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

797,282

956,613

Other creditors

2,700,000

3,497,282

3,656,613

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

188,519

347,850

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank loans

961,994

1,121,325

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members only take drawings where cash is available and other creditors are not adversely affected.

11.	RELATED PARTY DISCLOSURES

At 31 March 2025 an amount totalling £2,700,000 (2024: £2,700,000) was owed to related parties of the members, Mr C Makin and Mr M Makin.

The amounts are subject to interest of 3% per annum and are repayable within one year subject to 6 months notice provided by the lender. The facility is reviewed every 12 months to renew the loans on an annual rolling basis.

At the balance sheet date no such notice had been received and therefore the loans are deemed repayable after one year.

12.	ULTIMATE CONTROLLING PARTY

The LLP is controlled by the members.