REGISTERED NUMBER: OC403996 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

S N Murdoch Property LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

S N Murdoch

Mrs E A Murdoch

REGISTERED OFFICE:

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

REGISTERED NUMBER:

OC403996 (England and Wales)

ACCOUNTANTS:

APT

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

FIXED ASSETS

Investment property

4

2,126,706

2,075,000

CURRENT ASSETS

Debtors

5

260,377

255,934

Cash at bank

10,828

11,376

271,205

267,310

CREDITORS

Amounts falling due within one year

6

15,720

344,201

NET CURRENT ASSETS/(LIABILITIES)

255,485

(76,891

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,382,191

1,998,109

CREDITORS

Amounts falling due after more than one year

7

234,124

233,518

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,148,067

1,764,591

LOANS AND OTHER DEBTS DUE TO MEMBERS

337,476

-

MEMBERS' OTHER INTERESTS

Capital accounts

1,962,591

1,962,591

Other reserves

(152,000

)

(198,000

)

2,148,067

1,764,591

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

337,476

-

Members' other interests

1,810,591

1,764,591

Amounts due from members

5

(254,712

)

(254,851

)

1,893,355

1,509,740

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 4 September 2025 and were signed by:

S N Murdoch - Designated member

1.	STATUTORY INFORMATION

S N Murdoch 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.	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 as modified by the revaluation of certain assets.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern

After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

Turnover represents rental income received excluding value added tax and is measured at the fair value.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Debtors and creditors receivable/payable in one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Provision for liabilities

Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,075,000

Additions

5,706

Impairments

46,000

At 31 March 2025

2,126,706

NET BOOK VALUE

At 31 March 2025

2,126,706

At 31 March 2024

2,075,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2021

(113,000

)

Valuation in 2023

213,000

Valuation in 2024

(198,000

)

Valuation in 2025

46,000

Cost

2,178,706

2,126,706

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

260,377

255,934

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

-

326,135

Other creditors

15,720

18,066

15,720

344,201

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

234,124

233,518

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

234,124

559,653

Bank loans are secured by way of a first charge over the investment property to which they relate.

9.	RELATED PARTY DISCLOSURES

As at 31 March 2025 £254,712 (2024: £254,851) was owed from an entity connected with key management personnel. The loan is interest free and is repayable on demand.