Prime Investment ( Gants Hill) LLP

Registered number

OC382149

Filleted Accounts

28 February 2025

Prime Investment ( Gants Hill) LLP
Registered number:		OC382149
Balance Sheet
as at 28 February 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	470,639		470,769
Current assets
Cash at bank and in hand		126		4,290

Creditors: amounts falling due within one year	4	(37,917)		(37,700)

Net current liabilities		(37,791)		(33,410)

Total assets less current liabilities		432,848		437,359

Creditors: amounts falling due after more than one year	5	(17,548)		(49,393)


Net assets		415,300		387,966

Represented by:
Loans and other debts due to members	6	314,027		314,027

Members' other interests
Members' capital classified as equity		2,000		2,000
Other reserves		99,273		71,939
		101,273		73,939

		415,300		387,966

Total members' interests
Loans and other debts due to members	6	314,027		314,027
Members' other interests		101,273		73,939

		415,300		387,966

For the year ended 28 February 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 22 August 2025 and signed on their behalf by:


D. Itburrun
Designated member

Prime Investment ( Gants Hill) LLP
Notes to the Accounts
for the year ended 28 February 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Fixtures, fittings, tools and equipment	over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the LLP			-		1


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 March 2024	469,979		11,423		481,402
	Disposals	-		(10,123)		(10,123)
	At 28 February 2025	469,979		1,300		471,279

	Depreciation
	At 1 March 2024	-		10,633		10,633
	Charge for the year	-		130		130
	On disposals	-		(10,123)		(10,123)
	At 28 February 2025	-		640		640

	Net book value
	At 28 February 2025	469,979		660		470,639
	At 29 February 2024	469,979		790		470,769


4	Creditors: amounts falling due within one year			2025		2024
£					£

	Bank loans and overdrafts			36,000		36,000
	Other creditors			1,917		1,700
				37,917		37,700



5	Creditors: amounts falling due after one year			2025		2024
£					£

	Bank loans			17,548		49,393

	The loan is secured on the LLP's properties and is repayable over 10 years.

6	Loans and other debts due to members			2025		2024
£					£

	Loans from members			314,027		314,027

	Amounts falling due within one year			314,027		314,027

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


7	Other information

	Prime Investment ( Gants Hill) LLP is a limited liability partnership incorporated in England. Its registered office is:
	4 Blenheim Avenue
	Gants Hill
	Essex
	IG2 6JG