Oberlanders Property LLP Filleted accounts for Companies House (small and micro)

REGISTERED NUMBER: SO301628

Oberlanders Property LLP

Filleted Unaudited Financial Statements

For the period ended

31 March 2025

Oberlanders Property LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	4		835,843	835,843

Current assets

Debtors	5	17,899	11,763
Cash at bank and in hand		7,959	11,463
		--------	--------
		25,858	23,226

Creditors: amounts falling due within one year	6	17,373		14,904
		--------		--------
Net current assets			8,485	8,322
			---------	---------
Total assets less current liabilities			844,328	844,165
			---------	---------
Net assets			844,328	844,165
			---------	---------

Represented by:

Loans and other debts due to members

Members' capital classified as a liability	7	835,843	835,843
Other amounts	7	8,485	8,322
		---------	---------
		844,328	844,165
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	844,328	844,165
	---------	---------

Total members' interests

Amounts due from members		(17,899)	(11,763)
Loans and other debts due to members	7	844,328	844,165
Members' other interests		–	–
		---------	---------
		826,429	832,402
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.

For the 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) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Oberlanders Property LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 16 September 2025 , and are signed on their behalf by:

P J S Macdonald

Designated Member

Registered number: SO301628

Oberlanders Property LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in Scotland. The address of the registered office is 16 Melville Street, Edinburgh, EH3 7NS.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received for property rental net of Value Added Tax.

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, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

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 statement of comprehensive income 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'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade receivables and cash at bank, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include other payables and taxes due, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.

4.	Tangible assets

	Land and buildings
	£

Cost
At 1 April 2024 and 31 March 2025	835,843
	---------
Depreciation
At 1 April 2024 and 31 March 2025	–
	---------
Carrying amount
At 31 March 2025	835,843
	---------
At 31 March 2024	835,843
	---------

5.	Debtors

	2025	2024
	£	£

Other debtors	17,899	11,763
	--------	--------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£

Social security and other taxes	4,065	4,046
Other creditors	13,308	10,858
	--------	--------
	17,373	14,904
	--------	--------

7.	Loans and other debts due to members

	2025	2024
	£	£

Amounts owed to members in respect of profits	8,485	8,322
Other amounts	835,843	835,843
	---------	---------
	844,328	844,165
	---------	---------