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Company No: OC332077 (England and Wales)

# THE TRAMWAY STABLES LLP

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

THE TRAMWAY STABLES LLP

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

THE TRAMWAY STABLES LLP

## LIMITED LIABILITY PARTNERSHIP INFORMATION

For the financial year ended 31 March 2025
THE TRAMWAY STABLES LLP

## LIMITED LIABILITY PARTNERSHIP INFORMATION (continued)

For the financial year ended 31 March 2025

Designated members | A Harris-Apps
| G W T Hollaway

Registered office | The Tramway Stables
| Rampart Road
| Hythe
| CT21 5BG
| United Kingdom

Registered number | OC332077 (England and Wales)

Accountant | Kreston Reeves LLP
| 37 St Margarets Street
| Canterbury
| Kent
| CT1 2TU

THE TRAMWAY STABLES LLP

## BALANCE SHEET

As at 31 March 2025
THE TRAMWAY STABLES LLP

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 3,781 |  | 1,171
Investment property | 4 | 650,000 |  | 650,000
Investments | 5 | 8,800 |  | 8,800
|  | 662,581 |  | 659,971
Current assets |  |  |  |
Debtors | 6 | 34,448 |  | 27,542
Cash at bank and in hand |  | 2,211 |  | 3,245
|  | 36,659 |  | 30,787
Creditors: amounts falling due within one year | 7 | ( 47,667) |  | ( 41,492)
Net current liabilities |  | (11,008) |  | (10,705)
Total assets less current liabilities |  | 651,573 |  | 649,266
Creditors: amounts falling due after more than one year | 8 | ( 192,979) |  | ( 221,081)
Net assets attributable to members |  | 458,594 |  | 428,185
Represented by |  |  |  |
Loans and other debts due to members within one year |  |  |  |
Members' capital classified as a liability |  | 317,136 |  | 286,727
|  | 317,136 |  | 286,727
Members' other interests |  |  |  |
Other reserves |  | 141,458 |  | 141,458
|  | 141,458 |  | 141,458
|  | 458,594 |  | 428,185
Total members' interests |  |  |  |
Loans and other debts due to members |  | 317,136 |  | 286,727
Members' other interests |  | 141,458 |  | 141,458
|  | 458,594 |  | 428,185

For the financial 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.

Members' responsibilities:

- The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of The Tramway Stables LLP (registered number: OC332077) were approved and authorised for issue by the Board of Directors on 29 September 2025. They were signed on its behalf by:

A Harris-Apps Designated member |

THE TRAMWAY STABLES LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
THE TRAMWAY STABLES LLP

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

The Tramway Stables LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is The Tramway Stables, Rampart Road, Hythe, CT21 5BG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles | 25 % reducing balance
Office equipment | 2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.
The fair value is determined annually by the members, on an open market value for existing use basis.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the LLP during the year | 2 |  | 2

#### 3. Tangible assets

| Vehicles |  | Office equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 April 2024 | 28,616 |  | 2,890 |  | 31,506
Additions | 0 |  | 3,473 |  | 3,473
Disposals | 0 |  | ( 708) |  | ( 708)
At 31 March 2025 | 28,616 |  | 5,655 |  | 34,271
Accumulated depreciation |  |  |  |  |
At 01 April 2024 | 27,445 |  | 2,890 |  | 30,335
Charge for the financial year | 293 |  | 569 |  | 862
Disposals | 0 |  | ( 707) |  | ( 707)
At 31 March 2025 | 27,738 |  | 2,752 |  | 30,490
Net book value |  |  |  |  |
At 31 March 2025 | 878 |  | 2,903 |  | 3,781
At 31 March 2024 | 1,171 |  | 0 |  | 1,171

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 650,000
As at 31 March 2025 | 650,000

The 2025 valuations were made by the members, on an open market value for existing use basis.

#### 5. Fixed asset investments

| Other investments |  | Total
| £ |  | £
Cost or valuation before impairment |  |  |
At 01 April 2024 | 8,800 |  | 8,800
At 31 March 2025 | 8,800 |  | 8,800
Carrying value at 31 March 2025 | 8,800 |  | 8,800
Carrying value at 31 March 2024 | 8,800 |  | 8,800

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Prepayments | 798 |  | 740
Other debtors | 33,650 |  | 26,802
| 34,448 |  | 27,542

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 38,050 |  | 35,153
Trade creditors | 960 |  | 131
Other taxation and social security | 2,275 |  | 2,249
Other creditors | 6,382 |  | 3,959
| 47,667 |  | 41,492

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 192,979 |  | 221,081

The bank loan included within creditors is secured by a legal charge over the property known as Tramway Stables, Rampart Road, Hythe, Kent, CT21 5BG.

#### 9. Related party transactions

All related party transactions during the current and prior periods, including key management compensation, were concluded under normal market conditions.
G W T Hollaway, a member of the LLP, has a charge against the LLP in respect of £195,000 (2024 - £195,000) due, or to become due, to himself and is secured on the Investment Property.

#### 10. Loans

Amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | (38,050) |  | (35,153)

Amounts falling due 1-2 years

| 2025 |  | 2024
| £ |  | £
Bank loans | (192,979) |  | (38,447)

Amounts falling due 2-5 years

| 2025 |  | 2024
| £ |  | £
Loans 2-5 yr | 0 |  | (182,634)

#### 11. Ultimate controlling party

The LLP is under control of its designated members.