Tey Gardens LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC329601 (England and Wales)

TEY GARDENS LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Balance Sheet

1

to

3

Notes to the Financial Statements

4

to

8

FIXED ASSETS

Tangible assets

4

-

Investments

5

175,001

Investment property

6

3,000,000

3,175,001

CURRENT ASSETS

Stocks

-

1,092

Debtors

7

465,039

15,947

Cash at bank

7,500

33,756

472,539

50,795

CREDITORS

Amounts falling due within one year

8

(16,812

)

(65,518

)

NET CURRENT ASSETS/(LIABILITIES)

455,727

(14,723

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,630,728

3,160,278

CREDITORS

Amounts falling due after more than one
year

9

-

(97,610

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,630,728

3,062,668

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

1,755,769

1,187,709

MEMBERS' OTHER INTERESTS

Fair value reserve

12

1,874,959

3,630,728

3,062,668

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

1,755,769

1,187,709

Members' other interests

1,874,959

3,630,728

3,062,668

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 9 October 2025 and were signed by:

Chainevent Limited - Designated member

Heritage Homes (EA) - Designated member

1.	STATUTORY INFORMATION

Tey Gardens LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number:

OC329601

Registered office:

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

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

are rounded to the nearest Pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 modified to include investment properties at fair value.

Turnover

Turnover represents the sales properties having reached legal completion.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Deprecation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the the following bases:

Plant and machinery

25% straight line

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.

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.

Fixed asset investments

Fixed asset investments are stated at cost less provision for diminution in value.

Stocks

Work in progress is valued at the lower of cost and net realisable value. Is is valued on the basis of direct costs. Provision is made for foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

Basic financial instruments are measured at amortised cost.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity. A members participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Profits are divided only after a decision by the LLP or its representative, so the LLP has an unconditional right to refuse payment. Such profits are classed as equity rather than liabilities. They are therefore shown as residual amounts available for discretionary distribution amongst members in arriving at the result in the year and are shown as appropriations of equity when they are allocated.

Losses are divided only after a decision by the LLP or its representative and therefore remain in equity until such a decision is made.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as Loans and other debts due to members to the extent that they exceed debts due from a specific member.

All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Taxation

The taxation payable on the partnership profits is solely the personal liability of the individual members. Consequently neither the partnership taxation nor the related deferred taxation arising in respect of the partnership are accounted for in these financial statements.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

19,050

DEPRECIATION

At 1 April 2024

and 31 March 2025

19,050

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	FIXED ASSET INVESTMENTS

Interest

in other

participating

Other

interests

investments

Totals

£

COST

At 1 April 2024

and 31 March 2025

175,000

1

175,001

NET BOOK VALUE

At 31 March 2025

175,000

1

175,001

At 31 March 2024

175,000

1

175,001

The original cost of the fixed asset investments was £105,001.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,000,000

NET BOOK VALUE

At 31 March 2025

3,000,000

At 31 March 2024

3,000,000

The investment property is subject to an annual revaluation based on the present market value, which is carried out by the designated members.

The historical cost of the investment property is £1,125,041 (2024: £1,125,041).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

480

96

Amounts due from related undertaking

463,592

14,837

Prepayments and accrued income

967

1,014

465,039

15,947

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loan

-

50,177

Trade creditors

679

-

Amounts due to related undertaking

3,293

Other taxes and social security

10,219

10,119

Other creditors

280

279

Accruals and deferred income

2,341

1,650

16,812

65,518

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loan

-

97,610

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

-

97,610

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

-

147,787

The bank loan was secured by way of a mortgage and debenture over the LLP's assets in favour of Lloyds TSB Bank PLC. During the year, the loan was repaid in full. The charge was satisfied on 18 June 2024.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in 'Loans and other debts due to members' will rank equally with unsecured creditors.

12.	MEMBERS OTHER INTERESTS

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

1,874,959