REGISTERED NUMBER: OC416663 (England and Wales)

Members' Report and

Unaudited Financial Statements for the Year Ended 30th September 2024

for

Shared Pads Renting LLP

Page

General Information

1

Members' Report

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

C Bovill

Max Carre Awx Plat Ltd

REGISTERED OFFICE:

7 Bell Yard

London

WC2A 2JR

REGISTERED NUMBER:

OC416663 (England and Wales)

ACCOUNTANTS:

OCG Accountants Ltd

Biz Hub Tees Valley

Belasis Hall Technology Park

Coxwold Way

Billingham

Co. Durham

TS23 4EA

The members present their report with the financial statements of the LLP for the year ended 30th September 2024.

PRINCIPAL ACTIVITY

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

DESIGNATED MEMBERS

The designated members during the year under review were:

C Bovill

Max Carre Awx Plat Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £1,461,876 (2023 - £81,802 profit).

MEMBERS' INTERESTS

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 after finalisation of the financial statements. Members draw a proportion of their profit shares during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business. Capital is repaid to members on resignation or retirement. Only those members who have contributed capital to the LLP are allocated losses, if the LLP declares a loss in a period.

ON BEHALF OF THE MEMBERS:

C Bovill - Designated member

16th October 2025

TURNOVER

355,953

996,221

Administrative expenses

(168,979

)

(427,268

)

186,974

568,953

Gain/loss on revaluation of tangible assets

(1,580,415

)

-

OPERATING (LOSS)/PROFIT

(1,393,441

)

568,953

Interest payable and similar expenses

(68,435

)

(487,151

)

(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(1,461,876

)

81,802

FIXED ASSETS

Tangible assets

4

18,192,749

19,773,164

CURRENT ASSETS

Debtors

5

865,225

412,940

Investments

6

32,373

25,297

Cash at bank and in hand

4,796

10,693

902,394

448,930

CREDITORS

Amounts falling due within one year

7

(768,601

)

(246,751

)

NET CURRENT ASSETS

133,793

202,179

TOTAL ASSETS LESS CURRENT LIABILITIES

18,326,542

19,975,343

CREDITORS

Amounts falling due after more than one year

8

(13,153,277

)

(11,231,262

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

5,173,265

8,744,081

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

5,173,265

8,744,081

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

5,173,265

8,744,081

Amounts due from members

5

(1,440

)

-

5,171,825

8,744,081

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 30th September 2024.

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 16th October 2025 and were signed by:

C Bovill - Designated member

1.	STATUTORY INFORMATION

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

TANGIBLE FIXED ASSETS

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

Land and buildings

-

in accordance with the property

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1st October 2023

19,773,164

Revaluations

(1,580,415

)

At 30th September 2024

18,192,749

NET BOOK VALUE

At 30th September 2024

18,192,749

At 30th September 2023

19,773,164

Cost or valuation at 30th September 2024 is represented by:

Land and

buildings

£

Valuation in 2019

(4,904,962

)

Valuation in 2020

7,251,586

Valuation in 2021

131,739

Valuation in 2022

531,841

Valuation in 2024

(5,838,164

)

Cost

16,762,960

13,935,000

**	TOTAL SHOWN ON CLIENT SCREEN - REVALUATION ANALYSIS - DOES NOT AGREE TO TOTAL OF FIXED ASSET 'COST' ACCOUNT HELD AT END OF YEAR IN RESPECT OF

FREEHOLD PROPERTY

'COST' ACCOUNT TOTAL

Cost/valuation b/f

19,773,164

Revaluations

(1,580,415

)

18,192,749

CLIENT SCREEN TOTAL

=

13,935,000

The members see no reason to revalue the properties

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

9,059

11,841

Other debtors

856,166

401,099

865,225

412,940

6.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Other

32,373

25,297

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

2,355

126,933

Other creditors

766,246

119,818

768,601

246,751

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

13,153,277

11,231,262

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Mortgages

13,153,277

11,197,012

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation.