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REGISTERED NUMBER: OC302425 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Brealey LLP
Brealey LLP (Registered number: OC302425)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Brealey LLP

General Information
for the Year Ended 31 March 2025







DESIGNATED MEMBERS: M P Brealey
Miss S L Brealey
Miss H L Davies





REGISTERED OFFICE: Monckton Chambers
1 & 2 Raymond Buildings
London
WC1R 5NR





REGISTERED NUMBER: OC302425 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ
Page 1
Brealey LLP (Registered number: OC302425)

Balance Sheet
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,591 24,342
Investment property 5 1,250,000 1,250,000
1,272,591 1,274,342

CURRENT ASSETS
Debtors 6 573,189 574,374
Cash at bank 2,024 53
575,213 574,427
CREDITORS
Amounts falling due within one year 7 19,919 20,884
NET CURRENT ASSETS 555,294 553,543
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,827,885
1,827,885

CREDITORS
Amounts falling due after more than one
year
8
1,043,945
1,043,945
NET ASSETS ATTRIBUTABLE TO
MEMBERS
783,940
783,940

LOANS AND OTHER DEBTS DUE TO
MEMBERS
9
540,000
540,000

MEMBERS' OTHER INTERESTS
Fair value reserve 10 243,940 243,940
783,940 783,940

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 540,000 540,000
Members' other interests 243,940 243,940
Amounts due from members 6 (571,663 ) (571,347 )
212,277 212,593

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 notes form part of these financial statements

Page 2 continued...
Brealey LLP (Registered number: OC302425)

Balance Sheet - continued
31 March 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 December 2025 and were signed by:





Miss S L Brealey - Designated member

The notes form part of these financial statements

Page 3
Brealey LLP (Registered number: OC302425)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

Brealey 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% straight line

Investment property
Investment properties are held at market value and are not depreciated.

3. EMPLOYEE INFORMATION

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

4. TANGIBLE FIXED ASSETS
Improvemen
to
property
£   
COST
At 1 April 2024
and 31 March 2025 43,760
DEPRECIATION
At 1 April 2024 19,418
Charge for year 1,751
At 31 March 2025 21,169
NET BOOK VALUE
At 31 March 2025 22,591
At 31 March 2024 24,342

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024
and 31 March 2025 1,250,000
NET BOOK VALUE
At 31 March 2025 1,250,000
At 31 March 2024 1,250,000

The property was valued on 3rd September 2020 by Jamie Thorpe MSc MRICS of Pygott & Crone at value of £1,250,000. The partners agree with this valuation.

Page 4 continued...
Brealey LLP (Registered number: OC302425)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2021 250,000
Cost 1,000,000
1,250,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 1,526 3,027
Other debtors 571,663 571,347
573,189 574,374

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors - 1
Other creditors 19,919 20,883
19,919 20,884

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Other creditors 1,043,945 1,043,945

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans to members rank equally to other creditors.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2024
and 31 March 2025 243,940

Page 5