REGISTERED NUMBER: OC425847 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Cornhill Commercial LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs J A Walker

Mrs A R Mason

R W Mason

REGISTERED OFFICE:

83 Church Lane

Eaton

NR4 6NY

REGISTERED NUMBER:

OC425847 (England and Wales)

ACCOUNTANTS:

APT

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

FIXED ASSETS

Tangible assets

4

1,309

1,820

Investment property

5

8,050,000

7,150,000

8,051,309

7,151,820

CURRENT ASSETS

Debtors

6

271,185

163,931

Cash at bank

96,012

161,139

367,197

325,070

CREDITORS

Amounts falling due within one year

7

99,718

52,995

NET CURRENT ASSETS

267,479

272,075

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

8,318,788

7,423,895

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

683,068

-

MEMBERS' OTHER INTERESTS

Capital accounts

7,635,720

7,423,895

8,318,788

7,423,895

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

683,068

-

Members' other interests

7,635,720

7,423,895

8,318,788

7,423,895

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:

Mrs A R Mason - Designated member

1.	STATUTORY INFORMATION

Cornhill Commercial 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is rental income and is recognised on an accruals basis in accordance with the substance of the relevant agreement net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Going concern

After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

4,047

DEPRECIATION

At 1 April 2024

2,227

Charge for year

511

At 31 March 2025

2,738

NET BOOK VALUE

At 31 March 2025

1,309

At 31 March 2024

1,820

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

7,150,000

Additions

243,275

Revaluations

656,725

At 31 March 2025

8,050,000

NET BOOK VALUE

At 31 March 2025

8,050,000

At 31 March 2024

7,150,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2021

1,083,328

Valuation in 2022

(911,678

)

Valuation in 2023

1,271,949

Valuation in 2024

82,050

Valuation in 2025

656,725

Cost

5,867,626

8,050,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

587,626

5,624,351

Investment property was valued on an open market basis on 31 March 2025 by the designated members .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

239,541

146,350

Other debtors

31,644

17,581

271,185

163,931

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

15,051

17,180

Other creditors

84,667

35,815

99,718

52,995

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Capital introduced by members and capital repaid to members is done at par. A member is not entitled to receive capital repayment whilst a member of the LLP or following resignation.

The drawings policy of the LLP allows each member to draw in advance a proportion of their annual profit share, subject to the cash requirements of the business and the agreement of the other members. Undrawn profits at the end of the year may be transferred to equity at the option of the member or drawn in subsequent periods subject to the cash requirements of the business and the agreement of the other members.

Any transfers of members' interests from equity to debt (and vice versa) is done at par.