REGISTERED NUMBER: OC315702 (England and Wales)

Unaudited Financial Statements

For The Period

6 April 2023 to 5 October 2024

for

SANDCLIFFE INVESTMENTS PROPERTY LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr P A Atherton

Mr J D Mackenzie

REGISTERED OFFICE:

8 Eastway

Sale

Cheshire

M33 4DX

REGISTERED NUMBER:

OC315702 (England and Wales)

ACCOUNTANTS:

Leavitt Walmsley Associates Limited

Chartered Certified Accountants

8 Eastway

Sale

Cheshire

M33 4DX

FIXED ASSETS

Investment property

4

-

714,075

CURRENT ASSETS

Debtors

5

115,229

80,721

Cash at bank

21,230

3,721

136,459

84,442

CREDITORS

Amounts falling due within one year

6

13,271

70,888

NET CURRENT ASSETS

123,188

13,554

TOTAL ASSETS LESS CURRENT LIABILITIES

123,188

727,629

CREDITORS

Amounts falling due after more than one year

7

-

439,654

NET ASSETS ATTRIBUTABLE TO MEMBERS

123,188

287,975

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

123,188

287,975

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

123,188

287,975

Amounts due from members

5

(115,229

)

-

7,959

287,975

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 period ended 5 October 2024.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 26 September 2025 and were signed by:

Mr P A Atherton - Designated member

1.	STATUTORY INFORMATION

Sandcliffe Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

Rental income

The company's policy of revenue recognition is to recognise rental income when the contractual obligations to the customer have been fulfilled. For contracts where obligations to the customer have not been fulfilled, but have been invoiced revenue is recognised within deferred income in current liabilities until such time a right to consideration arises.

Rental income is recognised on a straight-line basis over the term of the tenant's lease. Rental income that is receivable but not paid is presented within current assets as debtors and measured at amortised cost.

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.

Financial instruments

A financial asset or financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit or loss. All other investments are subsequently measured at cost less impairment.

Debtors and creditors which fall due within one year are recorded in the financial statements at transaction price and subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded in profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt.

Debtors do not carry interest and are stated at their nominal value.

Trade creditors are not interest-bearing and are stated at their nominal value.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised.

Financial instruments

Financial Instruments are classified and accounted for according to the substance of the transaction as either a financial asset, liability or equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after all liabilities have been deducted.

3.	EMPLOYEE INFORMATION

The average number of employees during the period was NIL (2023 - 5 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2023

714,075

Disposals

(714,075

)

At 5 October 2024

-

NET BOOK VALUE

At 5 October 2024

-

At 5 April 2023

714,075

The members have not carried out a valuation of the investment property at the balance sheet date as required by FRS 102, Section 16 'Investment Property'. In the absence of fair value for the investment property at the balance sheet date, it is not possible for the balance sheet to reflect the fair value of the investment property. Any consequential adjustments to the carrying amount fo the investment property would be recorded in the profit and loss for the year.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.10.24

5.4.23

£

£

Trade debtors

-

1,900

Amounts due from members

115,229

-

Other debtors

-

78,821

115,229

80,721

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.10.24

5.4.23

£

£

Bank loans and overdrafts

-

21,195

Trade creditors

1

-

VAT

9,670

35,729

Other creditors

-

9,458

Accrued expenses

3,600

4,506

13,271

70,888

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.10.24

5.4.23

£

£

Bank loans - 1-2 years

-

6,390

Bank loans - 2-5 years

-

105,415

Bank loans more 5 yr by instal

-

226,241

Other creditors

-

101,608

-

439,654

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

226,241

8.	SECURED DEBTS

The following secured debts are included within creditors:

5.10.24

5.4.23

£

£

Bank loans

-

359,241

The loan is secured by way of fixed charge over all the property of the company. The charges dated 1 December 2005 and 19 December 2007 are all in favour of HSBC Bank PLC. There is also a debenture in place dated 9 April 2008 in favour of HSBC Bank PLC giving rise to a fixed and floating charge over the undertaking and all property and assets.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Amounts due to members will rank pari passu with other unsecured creditors in the event of a winding up. in such a circumstance, the members have subordinated their rights to payments owed to them in preference to external creditors.