REGISTERED NUMBER: OC439081 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PAPAPETROU PROPERTIES LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DESIGNATED MEMBERS:

Mr Z Papapetrou

Mr P Papapetrou

REGISTERED OFFICE:

869 High Road

London

N12 8QA

REGISTERED NUMBER:

OC439081 (England and Wales)

ACCOUNTANTS:

AC Partners LLP

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Investment property

4

9,812,844

8,412,844

CURRENT ASSETS

Debtors

5

2,767

10,524

Investments

6

837,007

833,216

Cash at bank

14,722

36,883

854,496

880,623

CREDITORS

Amounts falling due within one year

7

60,428

148,354

NET CURRENT ASSETS

794,068

732,269

TOTAL ASSETS LESS CURRENT LIABILITIES

10,606,912

9,145,113

CREDITORS

Amounts falling due after more than one year

8

4,433,250

4,433,250

NET ASSETS ATTRIBUTABLE TO MEMBERS

6,173,662

4,711,863

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

241,679

173,114

MEMBERS' OTHER INTERESTS

Capital accounts

5,882,220

4,482,220

Revaluation reserve

10

49,763

56,529

6,173,662

4,711,863

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

241,679

173,114

Members' other interests

5,931,983

4,538,749

6,173,662

4,711,863

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 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 4 December 2025 and were signed by:

Mr Z Papapetrou - Designated member

1.	STATUTORY INFORMATION

Papapetrou Properties 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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENT PROPERTY

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

8,412,844

Additions

1,400,000

At 31 March 2025

9,812,844

NET BOOK VALUE

At 31 March 2025

9,812,844

At 31 March 2024

8,412,844

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

6,669

Other debtors

2,767

3,855

2,767

10,524

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

837,007

833,216

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

12,841

83,899

Other creditors

47,587

64,455

60,428

148,354

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

4,433,250

4,433,250

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

56,529

Revaluation

6,183

Transfer to/from

Current account

(12,949

)

At 31 March 2025

49,763