REGISTERED NUMBER: OC375673 (England and Wales)

BARKLEY PROJECTS (KELVEDON) LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

5

CURRENT ASSETS

Stocks

-

419,815

Debtors

4

2,498,486

2,963

Cash at bank

10,794

4,297

2,509,280

427,075

CREDITORS

Amounts falling due within one year

5

(2,012

)

(237,238

)

NET CURRENT ASSETS

2,507,268

189,837

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,507,268

189,837

LOANS AND OTHER DEBTS DUE TO MEMBERS

6

2,332,268

14,837

MEMBERS' OTHER INTERESTS

Capital accounts

175,000

175,000

2,507,268

189,837

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

6

2,332,268

14,837

Members' other interests

175,000

175,000

Amounts due from members

4

-

(2,590

)

2,507,268

187,247

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:

Gravitex Limited - Designated member

Chainevent Limited - Designated member

1.	STATUTORY INFORMATION

Barkley Projects (Kelvedon) LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number:

OC375673

Registered office:

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

For the purposes of presentation, the financial statements are rounded to the nearest 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

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

Financial instruments

Financial instruments are recognised in the balance sheet when the Partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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, in accordance with section 22 of FRS 102. A member's 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 as liabilities. They are therefore shown as a residual amount available for discretionary division between members in arriving at the result for 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 or 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 they exceed debts due from a specific member.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown 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 partnership taxation nor related deferred taxation arising in respect of the partnership are accounted for in these financial statements.

Deferred consideration

Deferred consideration is receivable in connection with the Partnership's sale of land for a development site, which was sold in the year. Since there are finance elements included in this transaction, an effective interest of 4% above the Barclays Bank rate has been used to discount the amounts receivable. This rate has been used because it represents the interest rates of third-party borrowings with similar lending periods and security terms at the time of completion.

3.	EMPLOYEE INFORMATION

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

4.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Amounts due from members

-

2,590

Other debtors

250,085

373

250,085

2,963

Amounts falling due after more than one year:

Other debtors

2,248,401

-

Aggregate amounts

2,498,486

2,963

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

511

439

Amounts due to related undertakings

-

80,799

Accruals and deferred income

1,501

156,000

2,012

237,238

6.

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.