Vision Residences (Phase Two) LLP

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

Registered number: OC378370

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		302,318		403,091
Investment Properties	5		6,858,679		5,883,082

			7,160,997		6,286,173
CURRENT ASSETS
Debtors	6	965,716		747,982
Cash at bank and in hand		61,481		9,853

		1,027,197		757,835
Creditors: Amounts Falling Due Within One Year	7	(447,011 )		(172,825 )

NET CURRENT ASSETS (LIABILITIES)			580,186		585,010

TOTAL ASSETS LESS CURRENT LIABILITIES			7,741,183		6,871,183

NET ASSETS ATTRIBUTABLE TO MEMBERS			7,741,183		6,871,183

REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability		2,736,090		1,866,090

			2,736,090		1,866,090

Equity
Members' other interests
Other reserves		5,005,093		5,005,093

			5,005,093		5,005,093

			7,741,183		6,871,183

TOTAL MEMBERS' INTEREST
Amounts due from members			(904,724)		(678,283)
Loans and other debts due to members			2,736,090		1,866,090
Members' other interests			5,005,093		5,005,093

			6,836,459		6,192,900

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Page 2

Vision Residences (Phase Two) LLP

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 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 Andrew Reid

Designated Member

25/09/2025

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

1. General Information

Vision Residences (Phase Two) LLP is a limited liability partnership, incorporated in England & Wales, registered number OC378370 . The Registered Office is Moss House, 15-16 Brooks Mews, London, W1K 4DS.

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. 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:

Plant & Machinery	25% reducing balance
Motor Vehicles	25% reducing balance

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 2 (2023: )

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 31 December 2023	29,500	694,480	723,980

As at 31 December 2024	29,500	694,480	723,980

Depreciation
As at 31 December 2023	17,054	303,835	320,889
Provided during the period	3,111	97,662	100,773

As at 31 December 2024	20,165	401,497	421,662

...CONTINUED

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Vision Residences (Phase Two) LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024	9,335	292,983	302,318

As at 31 December 2023	12,446	390,645	403,091

5. Investment Property

	2024
	£
Fair Value
As at 31 December 2023	5,883,082
Additions	975,597

As at 31 December 2024	6,858,679

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	4,738	30,781
Other debtors	960,978	717,201

	965,716	747,982

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	151,979	71,589
Other creditors	295,032	101,236

	447,011	172,825

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