REGISTERED NUMBER: OC432581 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ALSHAWI PROPERTY LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

Professor M A H Al-Shawi

Mrs M E Azzawi

REGISTERED OFFICE:

5 Brooklands Place

Brooklsands Road

Sale

M33 3SD

REGISTERED NUMBER:

OC432581 (England and Wales)

ACCOUNTANTS:

Harold Sharp Limited

Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

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 period under review was that of letting of properties.

DESIGNATED MEMBERS

The designated members during the year under review were:

Professor M A H Al-Shawi

Mrs M E Azzawi

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £32,157 (2024 - £49,295 profit).

MEMBERS' INTERESTS

The members capital is contributed in accordance with the members agreement and any repayment of capital will only be made in accordance with the terms of that agreement. None of the members left the partnership during the period under review and none of their interests have been transferred from capital to debt.

POLITICAL DONATIONS AND EXPENDITURE

There were no political donations during the year, all donations made were charitable donations.

ON BEHALF OF THE MEMBERS:

Professor M A H Al-Shawi - Designated member

29 September 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 Alshawi Property LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet 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 Alshawi Property 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 Alshawi Property LLP and state those matters that we have agreed to state to the members of Alshawi Property 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 Alshawi Property LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Alshawi Property 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 Alshawi Property LLP. You consider that Alshawi Property 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 Alshawi Property 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.

Harold Sharp Limited

Chartered Accountants

5 Brooklands Place

Brooklands Road

Sale

Cheshire

M33 3SD

29 September 2025

TURNOVER

58,300

48,165

Administrative expenses

(26,143

)

(22,870

)

OPERATING PROFIT

32,157

25,295

Gain on revaluation of investment property

-

24,000

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

32,157

49,295

FIXED ASSETS

Investment property

4

1,181,878

939,000

CURRENT ASSETS

Cash at bank

12,670

65,175

CREDITORS

Amounts falling due within one year

5

(60,483

)

(10,931

)

NET CURRENT (LIABILITIES)/ASSETS

(47,813

)

54,244

TOTAL ASSETS LESS CURRENT LIABILITIES

1,134,065

993,244

CREDITORS

Amounts falling due after more than one year

6

(118,000

)

-

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,016,065

993,244

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

186,065

163,244

MEMBERS' OTHER INTERESTS

Capital accounts

830,000

830,000

1,016,065

993,244

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

186,065

163,244

Members' other interests

830,000

830,000

1,016,065

993,244

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 September 2025 and were signed by:

Professor M A H Al-Shawi - Designated member

1.	STATUTORY INFORMATION

Alshawi 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.

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only the period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the rental income received or receivable.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company 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, which include trade debtors, other 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. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors and other creditors 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.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Going concern

Based on current trading and future expectations, the members are confident the partnership will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

939,000

Additions

242,878

At 31 March 2025

1,181,878

NET BOOK VALUE

At 31 March 2025

1,181,878

At 31 March 2024

939,000

The properties have been valued on the tenanted open market basis by the members of the partnership.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

18,800

6,801

Other creditors

41,683

4,130

60,483

10,931

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

118,000

-

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

During the year, a loan of £175k was advanced by the member, M Alshawi. The loan is repayable by monthly instalments over a period of 58 months starting from September 2024.The loan is unsecured and interest free.

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.