REGISTERED NUMBER: OC370575 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 31 MARCH 2025

FOR

ASD PROPERTY SOLUTIONS LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

D P Kennard

Mrs F S Kennard

Kennard Care Services Ltd

REGISTERED OFFICE:

30/34 North Street

Hailsham

East Sussex

BN27 1DW

REGISTERED NUMBER:

OC370575 (England and Wales)

ACCOUNTANTS:

Watson Associates (Professional Services) Limited

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Investments

4

78,781

319,895

Investment property

5

2,325,000

2,325,000

2,403,781

2,644,895

CURRENT ASSETS

Cash at bank

9,631

6,657

CREDITORS

Amounts falling due within one year

6

(35,804

)

(36,168

)

NET CURRENT LIABILITIES

(26,173

)

(29,511

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,377,608

2,615,384

CREDITORS

Amounts falling due after more than one year

7

(299,986

)

(336,360

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,077,622

2,279,024

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

2,077,622

2,279,024

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

2,077,622

2,279,024

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 period 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 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:

D P Kennard - Designated member

Mrs F S Kennard - Designated member

1.	STATUTORY INFORMATION

ASD Property Solutions 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.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.

There were no key assumptions made concerning the future, and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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 period was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Loans to

other

participating

interests

£

At 1 January 2024

319,895

New in year

(241,114

)

At 31 March 2025

78,781

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 March 2025

2,325,000

NET BOOK VALUE

At 31 March 2025

2,325,000

At 31 December 2023

2,325,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

214,000

Valuation in 2022

885,953

Cost

1,225,047

2,325,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2023

£

£

Cost

1,525,047

1,525,047

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Bank loans and overdrafts

32,284

32,648

Other creditors

3,520

3,520

35,804

36,168

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Bank loans

299,986

336,360

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

299,986

336,360

8.	FINANCIAL INSTRUMENTS

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Amounts shown as due as loans and other debts due to members rank pari pasu in relation to other creditors in the event of winding up.