REGISTERED NUMBER: OC368917 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

MRMU Property LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Marblehome Limited

The Couture Gallery Ltd

M.R.M.U Limited

REGISTERED OFFICE:

6 Campden Street

London

W8 7EP

REGISTERED NUMBER:

OC368917 (England and Wales)

ACCOUNTANTS:

Monahans

Chartered Accountants

Suite B, Blackdown House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

4

7,182,326

7,182,326

CURRENT ASSETS

Debtors

5

194,526

191,356

Cash at bank

1,855

1,653

196,381

193,009

CREDITORS

Amounts falling due within one year

6

786,500

838,073

NET CURRENT LIABILITIES

(590,119

)

(645,064

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,592,207

6,537,262

CREDITORS

Amounts falling due after more than one year

7

2,538,017

2,603,205

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,054,190

3,934,057

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

818,089

697,956

MEMBERS' OTHER INTERESTS

Capital accounts

3,236,101

3,236,101

4,054,190

3,934,057

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

818,089

697,956

Members' other interests

3,236,101

3,236,101

4,054,190

3,934,057

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 May 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 27 August 2025 and were signed by:

Marblehome Limited - Designated member

M.R.M.U Limited - Designated member

1.	STATUTORY INFORMATION

MRMU Property LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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

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.

Tangible fixed assets

Investment properties are initially recognised at cost and subsequently carried at fair value, determined annually by the designated members who are not professionally qualified valuers. Changes in fair values are recognised in the profit and loss.

The investment properties are subject to renovations or improvements at regular intervals. The cost of major renovations and improvements are capitalised and the carrying amounts of the replaced components are recognised in the profit and loss. The cost of maintenance, repairs and minor improvements is recognised in the profit and loss when incurred.

On disposal of an investment property, the difference between the disposal proceeds and the carrying amount is recognised in the profit or loss.

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 expenses 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.

CREDITORS

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

MEMBER'S 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.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 June 2024

and 31 May 2025

7,182,326

NET BOOK VALUE

At 31 May 2025

7,182,326

At 31 May 2024

7,182,326

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

185,988

184,638

Prepayments and accrued income

8,538

6,718

194,526

191,356

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

49,189

110,334

Other loans

625,000

626,000

Trade creditors

7,260

2,760

VAT

15,125

11,900

Other creditors

64,625

64,625

Accrued expenses

25,301

22,454

786,500

838,073

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

1,667

63,522

Bank loans - 2-5 years

-

3,333

Bank loans more 5 yrs non-inst

2,536,350

2,536,350

2,538,017

2,603,205

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

2,536,350

2,536,350

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

2,587,206

2,713,539

The bank loan is secured by way of mortgage dated 10 May 2018.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

818,089

697,956

Falling due within one year

818,089

697,956

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