REGISTERED NUMBER: OC421260 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ANDORA PROPERTIES LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Statement of Financial Position

5

Reconciliation of Members' Interests

7

Notes to the Financial Statements

9

DESIGNATED MEMBERS:

Mr A Savva

Mrs D Savva

REGISTERED OFFICE:

869

High Road

London

N12 8QA

REGISTERED NUMBER:

OC421260 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property investment.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr A Savva

Mrs D Savva

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £51,305 (2024 - £1,765,266 profit).

MEMBERS' INTERESTS

The members' subscription to capital is as determined by the members from time to time.

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and

other benefits. Profits are allocated and divided between members as agreed by the members from time to time.

ON BEHALF OF THE MEMBERS:

Mr A Savva - Designated member

29 August 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Andora Properties LLP for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position, Reconciliation of Members' Interests and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Andora Properties LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Andora Properties LLP and state those matters that we have agreed to state to the members of Andora Properties LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andora Properties LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Andora Properties LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Andora Properties LLP. You consider that Andora Properties LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Andora Properties LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

EA

Chartered Accountants

869 High Road

London

N12 8QA

29 August 2025

TURNOVER

295,442

884,614

Cost of sales

846

3,384

GROSS PROFIT

294,596

881,230

Administrative expenses

52,258

157,021

OPERATING PROFIT

4

242,338

724,209

Profit/loss on disposal of fixed asset investments

5

153,742

(2,747

)

396,080

721,462

Income from fixed asset investments

-

102,666

Interest receivable and similar income

179

709

179

103,375

396,259

824,837

Gain/loss on revaluation of assets

(26,193

)

1,972,433

370,066

2,797,270

Interest payable and similar expenses

318,761

1,032,004

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

51,305

1,765,266

FIXED ASSETS

Tangible assets

6

-

5,906

Investment property

7

-

25,465,000

-

25,470,906

CURRENT ASSETS

Debtors

8

-

20,354

Investments

9

-

5,131,344

Cash at bank

5

97,729

5

5,249,427

CREDITORS

Amounts falling due within one year

10

-

820,798

NET CURRENT ASSETS

5

4,428,629

TOTAL ASSETS LESS CURRENT LIABILITIES

5

29,899,535

CREDITORS

Amounts falling due after more than one year

11

-

15,050,000

NET ASSETS ATTRIBUTABLE TO MEMBERS

5

14,849,535

LOANS AND OTHER DEBTS DUE TO MEMBERS

13

5

1,018,479

MEMBERS' OTHER INTERESTS

Capital accounts

-

8,551,313

Revaluation reserve

14

-

5,279,743

5

14,849,535

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

13

5

1,018,479

Members' other interests

-

13,831,056

5

14,849,535

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

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

Mr A Savva - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Revaluation

Other

equity)

reserve

reserves

Total

£

£

£

£

Balance at 1 April 2024

8,551,313

5,279,743

-

13,831,056

Profit for the financial year available for discretionary division among members

-

-

51,305

51,305

Members' interests after profit for the year

8,551,313

5,279,743

51,305

13,882,361

Other divisions of profit

-

-

(51,305

)

(51,305

)

Transfer

-

(5,192,159

)

-

(5,192,159

)

Revaluation reserve

-

(87,584

)

-

(87,584

)

Introduced by members

-

-

-

-

Repayments of capital

(8,551,313

)

-

-

(8,551,313

)

Drawings on account and distributions of profit

-

-

-

-

Balance at 31 March 2025

-

-

-

-

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

1,018,479

Amount due from members

-

Balance at 1 April 2024

1,018,479

14,849,535

Profit for the financial year available for discretionary division among members

-

51,305

Members' interests after profit for the year

1,018,479

14,900,840

Other divisions of profit

51,305

-

Transfer

-

(5,192,159

)

Revaluation reserve

-

(87,584

)

Introduced by members

238,186

238,186

Repayments of capital

-

(8,551,313

)

Drawings on account and distributions of profit

(1,307,965

)

(1,307,965

)

Amount due to members

5

Amount due from members

-

Balance at 31 March 2025

5

5

EQUITY

Members' other interests

Members'

capital

(classified

as

Revaluation

Other

equity)

reserve

reserves

Total

£

£

£

£

Balance at 1 April 2023

8,551,313

3,303,187

-

11,854,500

Profit for the financial year available for discretionary division among members

-

-

1,765,266

1,765,266

Members' interests after profit for the year

8,551,313

3,303,187

1,765,266

13,619,766

Other divisions of profit

-

-

(1,765,266

)

(1,765,266

)

Revaluation reserve

-

1,976,556

-

1,976,556

Introduced by members

-

-

-

-

Balance at 31 March 2024

8,551,313

5,279,743

-

13,831,056

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

£

Amount due to members

1,148,129

Amount due from members

-

Balance at 1 April 2023

1,148,129

13,002,629

Profit for the financial year available for discretionary division among members

-

1,765,266

Members' interests after profit for the year

1,148,129

14,767,895

Other divisions of profit

1,765,266

-

Revaluation reserve

-

1,976,556

Introduced by members

(1,894,916

)

(1,894,916

)

Amount due to members

1,018,479

Amount due from members

-

Balance at 31 March 2024

1,018,479

14,849,535

1.	STATUTORY INFORMATION

Andora Properties 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.

Turnover

Turnover represents net rent receivable.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Investment property

Investment properties are carried at fair values. Revaluation surpluses are recognised in the statement of income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The partners considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation.

3.	EMPLOYEE INFORMATION

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

738

1,969

5.	EXCEPTIONAL ITEMS

2025

2024

£

£

Profit/loss on disposal of fixed asset investments

153,742

(2,747

)

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

33,186

Disposals

(33,186

)

At 31 March 2025

-

DEPRECIATION

At 1 April 2024

27,280

Charge for year

738

Eliminated on disposal

(28,018

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

5,906

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

25,465,000

Disposals

(25,465,000

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

25,465,000

Fair value at 31 March 2025 is represented by:

£

Investment properties were valued on a fair value basis on 30 September 2024 by the members of the LLP .

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by participating interests

-

18,420

Other debtors

-

1,934

-

20,354

9.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

-

5,131,344

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

15,219

Amounts owed to participating interests

-

152,573

Other creditors

-

653,006

-

820,798

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

15,050,000

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

-

15,050,000

Bank loan is secured by way of a fixed charge on the properties held by the LLP.

13.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

14.

RESERVES

Revaluation

reserve

£

At 1 April 2024

5,279,743

Transfer

(5,192,159

)

Revaluation reserve

(87,584

)

At 31 March 2025

-

15.	ULTIMATE CONTROLLING PARTY

During the year under review, there was no single ultimate controlling party.