Ratcliffes Property Investors LLP
Registered number: | OC449908
Balance Sheet
as at 30 April 2025
|  |  |  |  | Proforma
Notes |  | 2025 |  | 2024
£ | £
Fixed assets
Tangible assets | 3 |  | 44,957 |  | 57,379
|  |  | 44,957 |  | 57,379
Current assets
Debtors | 4 |  | 112,053 |  | 94,205
Cash at bank and in hand |  |  | 122,103 |  | 73,593
|  |  | 234,156 |  | 167,798
Creditors: amounts falling due within one year | 5 |  | (69,404) |  | (53,857)
Net current assets |  |  | 164,752 |  | 113,941
Total assets less current liabilities |  |  | 209,709 |  | 171,320
Net assets attributable to members | 209,709 |  | 171,320
Represented by:
Loans and other debts due to members |  |  | 209,309 |  | 170,920
Members' other interests
Members' capital classified as equity |  |  | 400 |  | 400
|  |  | 209,709 |  | 171,320
Total members' interests
Loans and other debts due to members |  |  | 209,309 |  | 170,920
Members' other interests; members' capital |  |  | 400 |  | 400
|  |  | 209,709 |  | 171,320
For the year ended 30 April 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.
These accounts were approved by the members on 6 November 2025 and signed on their behalf by:
R W K Ratcliffe
Designated member

Ratcliffes Property Investors LLP
Notes to the Accounts
for the period from 10 November 2023 to 30 April 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.
| Transfer of partnership to LLP
| On 1 May 2024, the Ratcliffes partnership was transferred to Ratcliffes Property Investors LLP. The transfer of the business previously carried on by the Ratcliffes partnership has been accounted for in accordance with the principles of merger accounting as the members of Ratcliffes Property Investors LLP are the same as the former partners of the Ratcliffes partnership and their rights relative to one another remain unchanged. Therefore, the members had a continuing interest in the business both before and after the transfer to Ratcliffes Property Investors LLP. The financial statements have been prepared as if Ratcliffes Property Investors LLP has been in existence for both the current and previous year.
| In accordance with the principles of merger accounting, the assets and liabilities of the Ratcliffes partnership have been brought in at their book values under the accounting policies of Ratcliffes Property Investors LLP. Also, using these accounting policies, the income and expenditure of the Ratcliffes partnership have been brought in as proforma comparatives for the year ended 30 April 2024. The balance sheet of the Ratcliffes partnership as at 30 April 2024 is also presented as a pro forma comparative.
| Turnover
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services is recognised when the service is performed.
| Division of profits
| Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.
| Taxation
| Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.
| Tangible fixed assets
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Leasehold improvements | over the lease term
| Fixtures, fittings and equipment | over 4 years
| Motor Vehicles | over 4 years
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
| Members' capital
| Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.
| Foreign currency translation
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
| Leased assets
| A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the LLP's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
| Pensions
| Contributions to defined contribution plans are expensed in the period to which they relate.
2 | Employees | Proforma
|  |  |  |  |  | 2025 |  | 2024
Number | Number
| Average number of persons employed by the LLP | 2 |  | 2
3 | Tangible fixed assets
|  | Leasehold Improvements |  | Fixtures, Fittings & Equipment |  | Motor vehicles |  | Total
£ | £ | £ | £
| Cost
| At 10 November 2023 | - |  | - |  | - |  | -
| On transfer from partnership | 23,740 |  | 38,715 |  | 136,467 |  | 198,922
| At 30 April 2025 | 23,740 |  | 38,715 |  | 136,467 |  | 198,922
| Depreciation
| At 10 November 2023 | - |  | - |  | - |  | -
| On transfer from partnership | 16,139 |  | 25,037 |  | 100,367 |  | 141,543
| Charge for the year | 1,104 |  | 2,293 |  | 9,025 |  | 12,422
| Revaluation | - |  |  |  |  |  | -
| At 30 April 2025 | 17,243 |  | 27,330 |  | 109,392 |  | 153,965
| Net book value
| At 30 April 2025 | 6,497 |  | 11,385 |  | 27,075 |  | 44,957
| At 10 November 2023 | - |  | - |  | - |  | -
4 | Debtors | Proforma
|  |  |  |  |  | 2025 |  | 2024
£ | £
| Trade debtors | 14,971 |  | 28,853
| Other debtors | 97,082 |  | 65,352
|  |  |  |  |  | 112,053 |  | 94,205
5 | Creditors: amounts falling due within one year | Proforma
|  |  |  |  |  | 2025 |  | 2024
£ | £
| Trade creditors | 20,028 |  | 14,998
| Other taxes and social security costs | 29,184 |  | 20,459
| Other creditors | 20,192 |  | 18,400
|  |  |  |  |  | 69,404 |  | 53,857
6 | Other financial commitments | Proforma
|  |  |  |  |  | 2025 |  | 2024
£ | £
| Total future minimum payments under non-cancellable operating leases |  | 35,625 |  | 83,125
7 | Controlling party
| There is no ultimate controlling party of Ratcliffes Property Investors LLP.
8 | Other information
| Ratcliffes Property Investors LLP is a limited liability partnership incorporated in England. Its registered office is:
| 5th Floor
| 14 Brooks Mews
| London
| W1K 4DG

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