Company No: OC398853 (England and Wales)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Stocks	5	0		4,033
Debtors	6	6,635		0
Cash at bank and in hand		57,763		34,904
		64,398		38,937
Creditors: amounts falling due within one year	7	( 64,398)		( 8,900)
Net current assets		0		30,037
Total assets less current liabilities		0		30,037
Net assets attributable to members		0		30,037
Represented by
Members' other interests
Members' capital classified as equity		5,560,371		6,126,340
Other reserves		(5,560,371)		(6,096,303)
		0		30,037
		0		30,037
Total members' interests
Members' other interests		0		30,037
		0		30,037

For the financial year ending 31 March 2025 the LLP 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.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of RP (Poundbury) LLP (registered number: OC398853) were approved and authorised for issue by the Board of Directors on 11 September 2025. They were signed on its behalf by:

C. G Fry & Son Limited Designated member

	EQUITY Members' other interests			Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Total
	£	£	£	£
Balance at 01 April 2023	8,506,741	(6,431,268)	2,075,473	2,075,473
Profit for the financial year available for discretionary division among members	0	334,965	334,965	334,965
Members' interest after profit for the financial year	8,506,741	(6,096,303)	2,410,438	2,410,438
Drawings	(2,380,401)	0	(2,380,401)	(2,380,401)
Balance at 31 March 2024	6,126,340	(6,096,303)	30,037	30,037
Profit for the financial year available for discretionary division among members	0	535,933	535,933	535,933
Members' interest after profit for the financial year	6,126,340	(5,560,370)	565,970	565,970
Drawings	(565,969)	(1)	(565,970)	(565,970)
Balance at 31 March 2025	5,560,371	(5,560,371)	0	0

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RP (Poundbury) LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Litton Cheney, Dorchester, DT2 9AW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue represents amounts receivable for goods and services net of VAT. Revenue and profit in respect of speculative builds are recognised on completion of sale of each property.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Loans and other debts due to members

In the event of a winding up, members other reserves rank after unsecured creditors. Loans and other debts due to members rank pari passu with unsecured creditors in the event of a winding up. There is no formal restriction on the ability of the LLP to reduce the amount of members' other interests.

Members' remuneration and division of profits

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Members' interests

Amounts due to members after more than one year comprise provisions for annuities to current members and certain loans from members which are not repayable within twelve months of the balance sheet date.

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenue and expenses during the year. However the nature of estimation means the actual outcomes could differ from those involving estimates. The following judgement (apart from those involving estimates) has had the most significant effect on amounts recognised in the financial statements.

The LLP carries inventories at the lower of cost and net realisable value. Due to the nature of development timescales, it is routinely necessary to estimate costs to complete, future revenues and to allocate non-unit specific development costs between units legally completing in the current financial year and in future periods. A full review of the net realisable value of inventories was undertaken by the company as at 31 March 2024. This review considered the potential impact of the inflationary economic environment on the property market and future revenues.

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

	2025		2024
	Number		Number
Average number of members during the financial year	2		2

4. Stocks

	2025		2024
	£		£
Work in progress	0		4,033

5. Debtors

	2025		2024
	£		£
Trade debtors	6,099		0
Other debtors	536		0
	6,635		0

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other taxation and social security	0		13
Other creditors	64,398		8,887
	64,398		8,900