Westminster Schools Property LLP LLP accounts

REGISTERED NUMBER: OC439207

Westminster Schools Property LLP

Unaudited Financial Statements

31 March 2025

Westminster Schools Property LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Designated members and professional advisers	1

Members' report	2

Statement of comprehensive income	3

Statement of financial position	4

Reconciliation of members' interests	6

Notes to the financial statements	8

Westminster Schools Property LLP

Designated Members and Professional Advisers

Designated members	Suraj Rashmikant Shah
	Manish Gudka

Registered office	1st Floor
	88 Baker Street
	London
	England
	W1U 6TQ

LLP registration number OC439207

Westminster Schools Property LLP

Members' Report

Year ended 31 March 2025

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

Principal activities

The principal activity of the LLP during the year was that of a holding entity.

Incorporation

The LLP was formed on 20 September 2021 under Limited Liability Partnership Act 2000.

Designated members

The designated members who served the LLP during the year were as follows:

Suraj Rashmikant Shah
Manish Gudka

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 16 September 2025 and signed on behalf of the members by:

Manish Gudka

Designated Member

Registered office:

1st Floor

88 Baker Street

London

England

W1U 6TQ

Westminster Schools Property LLP

Statement of Comprehensive Income

Year ended 31 March 2025

	2025	2024
Note	£	£

Administrative expenses	–	1,070
	----	-------
Operating loss	–	( 1,070)

Other interest receivable and similar income	–	10
	----	-------
Loss for the financial year before members' remuneration and profit shares available for discretionary division among members	–	(1,060)
	----	-------

All the activities of the LLP are from continuing operations.

Westminster Schools Property LLP

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	4	2	2

Current assets

Debtors	5	13,117,898	13,518,995
Cash at bank and in hand		21	–
		-------------	-------------
		13,117,919	13,518,995

Creditors: amounts falling due within one year	6	2	17
		-------------	-------------
Net current assets		13,117,917	13,518,978
		-------------	-------------
Total assets less current liabilities		13,117,919	13,518,980
		-------------	-------------

Represented by:

Loans and other debts due to members

Other amounts	7	13,118,840	13,519,900

Members' other interests

Members' capital classified as equity	100	100
Other reserves	(1,021)	(1,020)
	-------------	-------------
	13,117,919	13,518,980
	-------------	-------------

Total members' interests

Amounts due from members		–	(1,060)
Loans and other debts due to members	7	13,118,840	13,519,900
Members' other interests		(921)	(920)
		-------------	-------------
		13,117,919	13,517,920
		-------------	-------------

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2025 the LLP 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 LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .

Westminster Schools Property LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 16 September 2025 , and are signed on their behalf by:

Manish Gudka

Designated Member

Registered number: OC439207

Westminster Schools Property LLP

Reconciliation of Members' Interests

Year ended 31 March 2025

	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£	£
Balance at 1 April 2024	100	(1,021)	(921)	13,518,840	13,518,840	13,517,919
Profit for the financial year available for discretionary division among members		–	–			–
	----	-------	----	-------------	-------------	-------------
Members' interests after profit for the year	100	(1,021)	(921)	13,518,840	13,518,840	13,517,919
Repayments of debt				(400,000)	(400,000)	(400,000)
	----	-------	----	-------------	-------------	-------------
Balance at 31 March 2025	100	(1,021)	(921)	13,118,840	13,118,840	13,117,919
	----	-------	----	-------------	-------------	-------------

Westminster Schools Property LLP

Reconciliation of Members' Interests (continued)

Year ended 31 March 2025

	Members' other interests			Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Other amounts	Total	Total 2024
	£	£	£	£	£	£
Amounts due to members				13,883,650	13,883,650
Amounts due from members				–	–
				-------------	-------------
Balance at 1 April 2023	100	(1,020)	(920)	13,883,650	13,883,650	13,882,730
Loss for the financial year available for discretionary division among members		(1,060)	(1,060)			(1,060)
	----	-------	-------	-------------	-------------	-------------
Members' interests after loss for the year	100	(2,080)	(1,980)	13,883,650	13,883,650	13,881,670
Other division of profits		1,060	1,060	(1,060)	(1,060)	–
Repayments of debt				(363,750)	(363,750)	(363,750)
				-------------	-------------
Amounts due to members				13,519,900	13,519,900
Amounts due from members				(1,060)	(1,060)
	----	-------	-------	-------------	-------------	-------------
Balance at 31 March 2024	100	(1,020)	(920)	13,518,840	13,518,840	13,517,920
	----	-------	-------	-------------	-------------	-------------

Westminster Schools Property LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is 1st Floor, 88 Baker Street, London, W1U 6TQ, England.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

Taxation on LLP profits is the personal liability of the members and consequently neither taxation nor deferred taxation is accounted for in these financial statements.

Going concern

These financial statements have been prepared on the going concern basis.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Westminster Schools Property LLP

Notes to the Financial Statements (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Members' participation rights (continued)

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

4.	Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	2
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	2
	----
At 31 March 2024	2
	----

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Westminster Schools Property Limited	Ordinary	100
Westminster Schools Group Finco Limited	Ordinary	100

The results and capital and reserves for the year are as follows:

	Capital and reserves		Profit/(loss) for the year
	2025	2024	2025	2024
	£	£	£	£
Subsidiary undertakings
Westminster Schools Property Limited	(5,970,060)	(4,962,185)	( 1,007,875)	(2,015,850)
Westminster Schools Group Finco Limited	4,439,280	3,027,310	1,411,970	1,345,051
	------------	------------	------------	------------

5.	Debtors

	2025	2024
	£	£
Amounts owed by group undertakings	13,117,898	13,517,935
Amounts due from members	–	1,060
	-------------	-------------
	13,117,898	13,518,995
	-------------	-------------

The amounts due from Westminster Schools Group Finco Limited are unsecured, interest free and repayable upon demand.

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	15
Other creditors	2	2
	----	----
	2	17
	----	----

7.	Loans and other debts due to members

	2025	2024
	£	£
Loans from members	13,118,840	13,519,900
	-------------	-------------