REGISTERED NUMBER: OC415287 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SUGARMAN HOMES LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Statement of Financial Position

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

Mr S Stevens

Mrs T Stevens

REGISTERED OFFICE:

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

REGISTERED NUMBER:

OC415287 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02 High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr S Stevens

Mrs T Stevens

Rocketbus Limited (Resigned on 09/10/2024)

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £96,400 (2024 - £6,721 loss).

MEMBERS' INTERESTS

The members take drawings in accordance with the partnership agreement. The profits of the business are attributed firstly to meet the expenses and liabilities of the partnership, secondly to provide for future trading, thirdly to apply remuneration for those members engaged in the business and finally to allocation of profits between the partners as decided from time to time.

This report has been prepared in accordance with the special provisions of Part 15 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 LLPs.

STATEMENT OF MEMBERS' RESPONSIBILITIES

The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations.

Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF THE MEMBERS:

Mr S Stevens - Designated member

28 November 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 Sugarman Homes LLP for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position 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 Sugarman Homes 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 Sugarman Homes LLP and state those matters that we have agreed to state to the members of Sugarman Homes 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 Sugarman Homes LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Sugarman Homes 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 Sugarman Homes LLP. You consider that Sugarman Homes 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 Sugarman Homes 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.

Acuity Professional Partnership LLP

Unit 2.02 High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

28 November 2025

TURNOVER

350,953

294,098

Administrative expenses

159,319

208,487

OPERATING PROFIT

4

191,634

85,611

Interest payable and similar expenses

95,234

92,332

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

96,400

(6,721

)

FIXED ASSETS

Intangible assets

5

-

21,956

Tangible assets

6

-

161,061

Investment property

7

-

7,395,299

-

7,578,316

CURRENT ASSETS

Debtors

8

255,929

54,138

Cash at bank

-

57,377

255,929

111,515

CREDITORS

Amounts falling due within one year

9

-

32,802

NET CURRENT ASSETS

255,929

78,713

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

255,929

7,657,029

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

255,929

312,209

MEMBERS' OTHER INTERESTS

Capital accounts

-

7,344,820

255,929

7,657,029

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

255,929

312,209

Members' other interests

-

7,344,820

Amounts due from members

8

(134,807

)

(37,674

)

121,122

7,619,355

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 28 November 2025 and were signed by:

Mr S Stevens - Designated member

1.	STATUTORY INFORMATION

Sugarman Homes 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 preparing the financial statements, the members are required to make estimates and judgements about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the members to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER

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

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS

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

Plant and machinery

-

20% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2024 - 1 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

-

31,541

Patents and licences amortisation

-

149

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

At 1 April 2024

22,105

Disposals

(22,105

)

At 31 March 2025

-

Amortisation

At 1 April 2024

149

Eliminated on disposal

(149

)

At 31 March 2025

-

Net book value

At 31 March 2025

-

At 31 March 2024

21,956

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 April 2024

15,228

40,371

192,240

247,839

Additions

-

18,394

-

18,394

Disposals

(15,228

)

(58,765

)

(192,240

)

(266,233

)

At 31 March 2025

-

-

-

-

Depreciation

At 1 April 2024

4,453

14,489

67,836

86,778

Eliminated on disposal

(4,453

)

(14,489

)

(67,836

)

(86,778

)

At 31 March 2025

-

-

-

-

Net book value

At 31 March 2025

-

-

-

-

At 31 March 2024

10,775

25,882

124,404

161,061

7.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

7,395,299

Reclassification/transfer

(7,395,299

)

At 31 March 2025

-

Net book value

At 31 March 2025

-

At 31 March 2024

7,395,299

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

3,990

Amounts owed by participating interests

121,122

1

Amounts due from members

134,807

37,674

Other debtors

-

8,295

Prepayments and accrued income

-

4,178

255,929

54,138

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

3,186

Social security and other taxes

-

24

Other creditors

-

22,635

Accruals and deferred income

-

1,867

Tenants Deposits

-

5,090

-

32,802

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

255,929

312,209

Falling due within one year

255,929

312,209

This is not loan to members, this is the current accounts of designated partners.