JETT PARTNERS LLP - Filleted accounts

Registered number

OC427715

JETT PARTNERS LLP

Unaudited Filleted Accounts

31 March 2025

JETT PARTNERS LLP
Registered number:		OC427715
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	3,370,000		3,370,000
		3,370,000		3,370,000
Current assets
Debtors	4	80,000		80,000
Cash at bank and in hand		-		-
		80,000		80,000

Creditors: amounts falling due within one year	5	(900)		(800)
Net current assets		79,100		79,200

Total assets less current liabilities		3,449,100		3,449,200
Provisions for liabilities		-		-
Net assets attributable to members		3,449,100		3,449,200

Represented by:
Loans and other debts due to members	6	3,449,100		3,449,200

Members' other interests
Members' capital classified as equity		-		-
Revaluation reserve		-		-
Other reserves		-		-
		-		-

		3,449,100		3,449,200

Total members' interests
Amounts due from members included in debtors	4	-		-
Loans and other debts due to members	6	3,449,100		3,449,200
		3,449,100		3,449,200
Members' other interests		-		-
		3,449,100		3,449,200

For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 1 December 2025 and signed on their behalf by:



Y T Watfa
Designated member

JETT PARTNERS LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			over 50 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.


2	Employees				2025		2024
Number						Number

	Average number of persons employed by the LLP				0		0

3	Tangible fixed assets
		Land and buildings					Total
£			£
	Cost
	At 1 April 2024	3,370,000					3,370,000
	Additions	-					-
	Revaluation	-					-
	Disposals	-					-
	At 31 March 2025	3,370,000					3,370,000

	Depreciation
	At 1 April 2024	-					-
	Charge for the year	-					-
	Revaluation	-					-
	On disposals	-					-
	At 31 March 2025	-					-

	Net book value
	At 31 March 2025	3,370,000					3,370,000
	At 31 March 2024	3,370,000					3,370,000

4	Debtors				2025		2024
£						£

	Trade debtors				80,000		80,000
	Amounts due from members				-		-
	Other debtors				-		-
					80,000		80,000

	Amounts due after more than one year included above				-		-

5	Creditors: amounts falling due within one year				2025		2024
£						£

	Bank loans and overdrafts				-		-
	Trade creditors				-		-
	Other taxes and social security costs				-		-
	Other creditors				900		800
					900		800

6	Loans and other debts due to members				2025		2024
£						£

	Members capital classified as debt				3,370,000		3,370,000
	Loans from members				-		-
	Retirement benefit liabilities in respect of current members				-		-
	Amounts due to members in respect of profits				79,100		79,200
					3,449,100		3,449,200

	Amounts falling due within one year				3,449,100		3,449,200
	Amounts falling due after more than one year				-		-
					3,449,100		3,449,200

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

7	Capital commitments				2025		2024
£						£

	Amounts contracted for but not provided in the accounts				-		-

8	Related party transactions

	The Freehold Premises are leased to Octagon Properties Ltd, Company Incorporated in England & Wales. All the members are shareholders in Octagon Properties Ltd and jointly own 99.5% of its equity.

9	Other information

	JETT PARTNERS LLP is a limited liability partnership incorporated in England. Its registered office is:
	Flat 1
	249 Goldhurst Terrace
	London
	NW6 3EP