Company No: OC307744 (England and Wales)

Contents

• Limited Liability Partnership Information
• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

DESIGNATED MEMBERS	Mr. C. Ballard
	Mr. G Symons

MEMBER

Ballards Estate Agents Limited

REGISTERED OFFICE	30 Hart Street
	Henley-On-Thames
	RG9 2AU
	United Kingdom

REGISTERED NUMBER

OC307744 (England and Wales)

ACCOUNTANT	Verallo
	Century House
	Wargrave Road
	Henley-on-Thames
	Oxfordshire
	United Kingdom
	RG9 2LT

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	73,770		967,206
Investment property	4	2,770,000		4,050,000
		2,843,770		5,017,206
Current assets
Debtors	5	69,781		548
Cash at bank and in hand		24,827		36,332
		94,608		36,880
Creditors: amounts falling due within one year	6	( 1,329,135)		( 262,509)
Net current liabilities		(1,234,527)		(225,629)
Total assets less current liabilities		1,609,243		4,791,577
Creditors: amounts falling due after more than one year	7	( 53,953)		( 1,354,473)
Net assets attributable to members		1,555,290		3,437,104
Represented by
Loans and other debts due to members within one year
Other amounts	8	(383,865)		217,949
		(383,865)		217,949
Members' other interests
Members' capital classified as equity		1,306,263		1,306,263
Fair value reserve		632,892		1,912,892
		1,939,155		3,219,155
		1,555,290		3,437,104
Total members' interests
Loans and other debts due to members		(383,865)		217,949
Members' other interests		1,939,155		3,219,155
		1,555,290		3,437,104

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 Ballards Properties LLP (registered number: OC307744) were approved and authorised for issue by the Board of Directors on 12 September 2025. They were signed on its behalf by:

Mr. C. Ballard Designated member

	EQUITY Members' other interests				DEBT Loans and other debts due to members less any amounts due from members in debtors	Total members' interests
	Members' capital (classified as equity)	Fair value reserves	Other reserves	Total	Other amounts	Total
	£	£	£	£	£	£
Amounts due to members					257,034
Balance at 01 April 2023	1,306,263	1,912,892	0	3,219,155	257,034	3,476,189
Profit for the financial year available for discretionary division among members	0	0	46,867	46,867	0	46,867
Members' interest after profit for the financial year	1,306,263	1,912,892	46,867	3,266,022	257,034	3,523,056
Division of profit	0	0	(46,867)	(46,867)	46,867	0
Drawings	0	0	0	0	(85,952)	(85,952)
Amounts due to members					217,949
Balance at 31 March 2024	1,306,263	1,912,892	0	3,219,155	217,949	3,437,104
Loss for the financial year available for discretionary division among members	0	0	(1,648,477)	(1,648,477)	0	(1,648,477)
Members' interest after loss for the financial year	1,306,263	1,912,892	(1,648,477)	1,570,678	217,949	1,788,627
Division of loss	0	0	368,477	368,477	(368,477)	0
Drawings	0	0	0	0	(233,337)	(233,337)
Fair value adjustment	0	(1,280,000)	1,280,000	0	0	0
Amounts due to members					(383,865)
Balance at 31 March 2025	1,306,263	632,892	0	1,939,155	(383,865)	1,555,290

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

Ballards Properties 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 30 Hart Street, Henley-On-Thames, RG9 2AU, United Kingdom.

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 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 £.

Going concern

At the balance sheet date the limited liability partnership's current liabilities exceeded its current assets. The day to day operation of the limited liability partnership is dependent upon support from its members and lenders. On the assumption that such support will continue to be forthcoming, the members consider it appropriate to prepare the financial statements on a going concern basis.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rental income in the normal course of business, net of VAT.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	4 years straight line
Fixtures and fittings	5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 credited or charged to profit or loss.

Leases

The LLP as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the LLP are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the LLP.

Derivative financial instruments
The LLP uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The LLP does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in the Profit and Loss Account immediately.

The LLP does not apply hedge accounting.

Members' participation rights

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.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense. They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

3. Tangible assets

	Vehicles		Fixtures and fittings		Total
	£		£		£
Cost
At 01 April 2024	1,048,495		3,762		1,052,257
Disposals	( 866,000)		0		( 866,000)
At 31 March 2025	182,495		3,762		186,257
Accumulated depreciation
At 01 April 2024	81,289		3,762		85,051
Charge for the financial year	37,686		0		37,686
Disposals	( 10,250)		0		( 10,250)
At 31 March 2025	108,725		3,762		112,487
Net book value
At 31 March 2025	73,770		0		73,770
At 31 March 2024	967,206		0		967,206

Included in the net book value is £73,768 (2024 - £103,767) relating to assets held under hire purchase and finance lease. The depreciation charged in relation to these assets amounted to £29,999 (2024 - £27,957).

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	4,050,000
Fair value movement	(1,280,000)
As at 31 March 2025	2,770,000

5. Debtors

	2025		2024
	£		£
Prepayments	16,610		548
Other debtors	53,171		0
	69,781		548

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	1,306,250		75,000
Trade creditors	5,189		3,051
Accruals	4,400		4,200
Other taxation and social security	26		1,316
Obligations under finance leases and hire purchase contracts	13,270		9,270
Other creditors	0		169,672
	1,329,135		262,509

The aggregate amount of creditors for which security has been given amounted to £1,319,520 (2024 - £84,270).

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	0		1,281,250
Obligations under finance leases and hire purchase contracts	53,953		73,223
	53,953		1,354,473

The aggregate amount of creditors for which security has been given amounted to £53,953 (2024 - £1,354,473)

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.