Musson Projects LLP

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

Registered number: OC345540

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		400,000		400,000

			400,000		400,000
CURRENT ASSETS
Debtors	5	221,291		239,504

		221,291		239,504
Creditors: Amounts Falling Due Within One Year	6	(14,233 )		(11,072 )

NET CURRENT ASSETS (LIABILITIES)			207,058		228,432

TOTAL ASSETS LESS CURRENT LIABILITIES			607,058		628,432

Creditors: Amounts Falling Due After More Than One Year	7		(15,831 )		(55,515 )

NET ASSETS ATTRIBUTABLE TO MEMBERS			591,227		572,917

REPRESENTED BY:
Loans and other debts due to members within one year
Members' capital classified as a liability		23,338		6,964
Other amounts		567,889		565,953

			591,227		572,917

			591,227		572,917

TOTAL MEMBERS' INTEREST
Amounts due from members			(193,886)		(208,463)
Loans and other debts due to members within one year			591,227		572,917

			397,341		364,454

Page 1

Page 2

Musson Projects 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 M Musson

Designated Member

29/09/2025

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

1. General Information

Musson Projects LLP is a limited liability partnership, incorporated in England & Wales, registered number OC345540 . The Registered Office is Office 16, Hamilton Davies House, 117c Liverpool Road, Cadishead, Manchester, M44 5BG.

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

The turnover shown in the profit and loss account represents rental income and is recognised at the time of receipt.

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:

Freehold

Nil

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: 2)

4. Investment Property

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	400,000

5. Debtors

	2024	2023
	£	£
Due within one year
Other debtors	221,291	239,504

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	999	998
Bank loans and overdrafts	10,911	7,751
Other creditors	2,323	2,323

	14,233	11,072

Page 3

Page 4

Musson Projects LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	15,831	55,515

The bank loan is secured by a debenture dated 4th August 2009 giving a fixed and floating charge over the assets of the LLP.

Page 4