Reading Drake Way Property LLP LLP accounts

REGISTERED NUMBER: OC419918

Reading Drake Way Property LLP

Unaudited Financial Statements

31 March 2025

Reading Drake Way Property LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Designated members and professional advisers	1

Members' report	2

Statement of financial position	4

Reconciliation of members' interests	5

Notes to the financial statements	7

Reading Drake Way Property LLP

Designated Members and Professional Advisers

Designated members	Mr Suraj Shah
	Mr Manish Gudka

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

LLP registration number OC419918

Reading Drake Way 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 company during the year was that of a holding entity.

Incorporation

The LLP was incorporated on 14 November 2017 under the Limited Liability Partnership Act 2000.

Designated members

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

Mr Suraj Shah
Mr 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.

Results for the period and allocation to members

The LLP had no trading activities during the period.

This report was approved by the members on 20 October 2025 and signed on behalf of the members by:

Mr Manish Gudka

Designated Member

Registered office:

1st Floor

88 Baker Street

London

England

W1U 6TQ

Reading Drake Way Property LLP

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Investments	4	1	1

Current assets

Debtors	5	12,391,730	12,145,980
		-------------	-------------
Net current assets		12,391,730	12,145,980
		-------------	-------------
Total assets less current liabilities		12,391,731	12,145,981
		-------------	-------------

Represented by:

Loans and other debts due to members

Other amounts	6	12,391,681	12,145,931

Members' other interests

Members' capital classified as equity	50	50
Other reserves	–	–
	-------------	-------------
	12,391,731	12,145,981
	-------------	-------------

Total members' interests

Loans and other debts due to members	6	12,391,681	12,145,931
Members' other interests		50	50
		-------------	-------------
		12,391,731	12,145,981
		-------------	-------------

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 .

These financial statements were approved by the members and authorised for issue on 20 October 2025 , and are signed on their behalf by:

Mr Manish Gudka

Designated Member

Registered number: OC419918

Reading Drake Way 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)	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Balance at 1 April 2024	50	50	12,145,931	12,145,931	12,145,981
Introduced by members	–	–	245,750	245,750	245,750
Repayments of debt			–	–	–
	----	----	-------------	-------------	-------------
Balance at 31 March 2025	50	50	12,391,681	12,391,681	12,391,731
	----	----	-------------	-------------	-------------

Reading Drake Way 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)	Total	Other amounts	Total	Total 2024
	£	£	£	£	£
Balance at 1 April 2023	50	50	12,190,931	12,190,931	12,190,981
Introduced by members	–	–	–	–	–
Repayments of debt			(45,000)	(45,000)	(45,000)
	----	----	-------------	-------------	-------------
Balance at 31 March 2024	50	50	12,145,931	12,145,931	12,145,981
	----	----	-------------	-------------	-------------

Reading Drake Way 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.

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	1
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	1
	----
At 31 March 2024	1
	----

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Reading Drake Way Holdings 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
Reading Drake Way Holdings Limited	8,604,592	7,425,217	1,179,375	1,182,606
	------------	------------	------------	------------

5.	Debtors

	2025	2024
	£	£
Amounts owed by group undertakings	12,391,720	12,145,970
Other debtors	10	10
	-------------	-------------
	12,391,730	12,145,980
	-------------	-------------

The amounts due from Reading Drake Way Holdings Limited are unsecured, interest free and repayable upon demand.

6.	Loans and other debts due to members

	2025	2024
	£	£
Loans from members	12,391,681	12,145,931
	-------------	-------------