REGISTERED NUMBER: OC345194 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

T & L Crawley No. 2 LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Designated members:

T Crawley

Mrs L Crawley

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

OC345194 (England and Wales)

Fixed assets

Tangible assets

5

2,684,044

2,839,180

Current assets

Debtors

6

1,194,395

601,953

Cash at bank

34,417

222,204

1,228,812

824,157

Creditors

Amounts falling due within one year

7

6,950

9,600

Net current assets

1,221,862

814,557

Total assets less current liabilities

and

Net assets attributable to members

3,905,906

3,653,737

Loans and other debts due to members

8

3,905,906

3,653,737

Total members' interests

Loans and other debts due to members

8

3,905,906

3,653,737

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 year ended 31 March 2025.

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 Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 29 September 2025 and were signed by:

T Crawley - Designated member

1.	Statutory information

T & L Crawley No. 2 LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	Accounting policies

Basis of preparing the financial statements

These financial statements are prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Companies Act 2006 as applied to LLP's by the Limited Liability partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships under the historical cost convention.

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

Amounts in these financial statements are rounded to the nearest £.

Significant judgements and estimates

In applying the LLP's accounting policies, the members are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The members' judgements, estimated and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the LLP's accounting policies

The critical judgement that the members have made in the process of applying the LLP's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment assets, the members have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

(ii) Recoverability of receivables

The LLP establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the members consider factors such as the aging of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers.

Tangible fixed assets and depreciation

Investment properties are included in the balance sheet at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the applicable accounting standard, SSAP19 accounting for investment properties, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the members compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Turnover

Turnover represents rents receivable net of VAT. Turnover is accounted for on the accruals basis.

Financial instruments

Financial assets and liabilities are recognised when the LLP becomes party to the contractual provisions of the financial instrument. The LLP holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, and borrowings. The LLP has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets - classified as basic financial instruments

(i) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the LLP assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the LLP will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the amount of the cash expected to be paid.

Provisions

Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probably that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the time value of money is material.

Members' remuneration profit allocation

Members' remuneration and profit allocation are stipulated in the Limited Liability Partnership Agreement, where the profits of the LLP, in respect of any financial year of the LLP, shall be allocated amongst the Members in such a manner and in such proportions as shall be determined by them.

Taxation

As a limited liability partnership the firm is not liable for United Kingdom taxation, its profits being liable to income tax in the hands of the members. Therefore, no provision for taxation is made in the financial statements.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the members have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the members consider that the LLP maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capita and servicing obligations and external debt liabilities.

In addition, the LLP's assets are assessed for recoverability on a regular basis, and the members consider that the LLP is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the LLP's ability to continue as a going concern. Thus the members have continued to adopt the going concern basis of accounting in preparing these financial statements.

4.	Employee information

The average number of employees during the year was NIL (2024 - NIL).

5.	Tangible fixed assets

Land and

buildings

£

Cost

At 1 April 2024

2,839,180

Additions

29,061

Disposals

(184,197

)

At 31 March 2025

2,684,044

Net book value

At 31 March 2025

2,684,044

At 31 March 2024

2,839,180

6.

Debtors

2025

2024

£

£

Amounts falling due within one year:

VAT

1,575

1,953

Amounts falling due after more than one year:

Other debtors

1,192,820

600,000

Aggregate amounts

1,194,395

601,953

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

6,950

9,600

8.

Loans and other debts due to members

2025

2024

£

£

Amounts owed to members in respect of profits

3,905,906

3,653,737

Falling due within one year

3,905,906

3,653,737

Amounts due to members are ranked after all creditors.

9.	Related party disclosures

At the balance sheet date the amount due to T Crawley was £3,785,695 (2024 £3,535,889) and the amount due to L Crawley was £120,211 (2024 £117,848).

10.	Ultimate controlling party

The ultimate controlling party is T Crawley, a designated member of the limited liability partnership.