PL Properties (Plymouth) LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC335468

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		4,293		3,929

			4,293		3,929
CURRENT ASSETS
Debtors	6	13,524		11,602
Cash at bank and in hand		60,036		48,942

		73,560		60,544
Creditors: Amounts Falling Due Within One Year	7	(68,371 )		(63,041 )

NET CURRENT ASSETS (LIABILITIES)			5,189		(2,497 )

TOTAL ASSETS LESS CURRENT LIABILITIES			9,482		1,432

NET ASSETS ATTRIBUTABLE TO MEMBERS			9,482		1,432

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		9,482		1,432

			9,482		1,432

			9,482		1,432

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			9,482		1,432

			9,482		1,432

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PL Properties (Plymouth) LLP

Balance Sheet (continued)

As At 31 March 2025

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 applicable to LLPs subject to the small LLPs regime.)

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 accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr Michael Blendell

Designated Member

2 September 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

PL Properties (Plymouth) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC335468 . The Registered Office is 34 Mary Seacole Road, The Millfields, Plymouth, Devon, PL1 3JY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% straight line
Fixtures & Fittings	15% reducing balance
Computer Equipment	15% straight line

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2024: NIL)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	25,000

As at 31 March 2025	25,000

Amortisation
As at 1 April 2024	25,000

As at 31 March 2025	25,000

...CONTINUED

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PL Properties (Plymouth) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	3,000	2,624	13,483	19,107
Additions	-	-	1,620	1,620

As at 31 March 2025	3,000	2,624	15,103	20,727

Depreciation
As at 1 April 2024	600	2,322	12,256	15,178
Provided during the period	600	45	611	1,256

As at 31 March 2025	1,200	2,367	12,867	16,434

Net Book Value
As at 31 March 2025	1,800	257	2,236	4,293

As at 1 April 2024	2,400	302	1,227	3,929

6. Debtors

	2025	2024
	£	£
Due within one year
Prepayments and accrued income	13,524	11,602

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	17,629	12,661
VAT	5,484	4,476
Accrued expenses	4,207	4,853
Amounts owed to associates	41,051	41,051

	68,371	63,041

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