Limited Liability Partnership registration number OC361465 (England and Wales)
Advani Properties LLP
Annual report and unaudited financial statements
For the year ended 31 March 2025
Advani Properties LLP
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Advani Properties LLP
Statement of financial position
As at 31 March 2025
31 March 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Investment property
4
4,000,000
4,000,000
Current assets
Debtors
5
109,074
111,089
Cash at bank and in hand
39,949
176,808
149,023
287,897
Creditors: amounts falling due within one year
6
(86,632)
(216,848)
Net current assets
62,391
71,049
Total assets less current liabilities and net assets attributable to members
4,062,391
4,071,049
Represented by:
Loans and other debts due to members within one year
Members' capital classified as a liability
4,000,010
4,000,010
Other amounts
62,381
71,039
4,062,391
4,071,049
Total members' interests
Amounts due from members
(107,737)
(109,072)
Loans and other debts due to members
4,062,391
4,071,049
3,954,654
3,961,977
Advani Properties LLP
Statement of financial position (continued)
As at 31 March 2025
31 March 2025
- 2 -

For the financial year ended 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the members and authorised for issue on 3 November 2025 and are signed on their behalf by:
03 November 2025
Mr R K Advani
Designated member
Limited Liability Partnership registration number OC361465 (England and Wales)
Advani Properties LLP
Notes to the financial statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Limited liability partnership information

Advani Properties LLP is a limited liability partnership incorporated in England and Wales. The registered office is Bates Mill, Colne Road, Huddersfield, United Kingdom, HD1 3AG.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, as modified to include the revaluation of investment properties. The principal accounting polices are set out below.

1.2
Turnover

Rents receivable under operating leases are included within turnover on a straight-line basis over the lease term. Contributions to dilapidations are also included within turnover and recognised in the period against which the work was undertaken.

Rent is generated from the investment properties.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss

1.4
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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.

Advani Properties LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

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 limited liability partnership after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5

Members' remuneration

Members' remuneration based on a basic profit share, in accordance with the partnership agreement, is classed as an expense in the profit and loss account.

2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members 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 that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of investment property

Investment property is included on the balance sheet at fair value. The fair value is arrived at on the basis of valuations carried out by the members.

3
Employees

The average number of persons employed by the LLP during the year was Nil (2024 - Nil).

Advani Properties LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 5 -
4
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
4,000,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 17th April 2024 by Walker Singleton Chartered Surveyors, who are not connected with the limited liability partnership. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The members consider the valuation to be unchanged as at 31 March 2025.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by members
107,737
109,072
Other debtors
1,337
2,017
109,074
111,089
6
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
14,055
35,668
Other creditors
72,577
181,180
86,632
216,848
7
Loans and other debts due to members

Loans and other debts due to members rank equally with debts due to ordinary creditors on a winding up.

8
Related party disclosures

Total amounts due to and from members can be seen in the members' interest section at the bottom

of the balance sheet. Loans to members are interest free and repayable on demand.

During the year a fair valuation surplus of £Nil (2024 - £700,000) was attributed to the member's property capital account. The balance on this account at the year end date is £4,000,000 (2024 - £4,000,000).

Advani Properties LLP
Notes to the financial statements (continued)
For the year ended 31 March 2025
- 6 -
9
Prior period adjustment

Members' capital is repayable in full should a member cease to be a member. As a result, members' capital should be classed as debt, rather than equity. In prior years it was classified as equity and the accounts have now been restated with the correct classification. The total amount of members' capital reclassified is £4,000,010 as at 31 March 2024 (£3,300,010 as at 1 April 2023).

There is no impact on the reported profit for the prior year, or on Total members' interests.

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