REGISTERED NUMBER: OC357733 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

GATES PROPERTIES LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

B M Gates

Mrs S A Gates

TFC (Property) Limited

REGISTERED OFFICE:

22 Echo Barn Lane

Wrecclesham

Farnham

GU10 4NP

REGISTERED NUMBER:

OC357733 (England and Wales)

ACCOUNTANTS:

Wells Associates

Ground Floor Oakhurst House

77 Mount Ephraim

Tunbridge Wells

Kent

TN4 8BS

FIXED ASSETS

Investment property

4

298,000

398,000

CURRENT ASSETS

Debtors

63,400

60,963

Cash at bank

3,080

2,671

66,480

63,634

CREDITORS

Amounts falling due within one year

5

(700

)

(713

)

NET CURRENT ASSETS

65,780

62,921

TOTAL ASSETS LESS CURRENT LIABILITIES

363,780

460,921

CREDITORS

Amounts falling due after more than one year

6

(231,796

)

(328,937

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

131,984

131,984

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

9,196

9,196

MEMBERS' OTHER INTERESTS

Capital accounts

122,788

122,788

131,984

131,984

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

9,196

9,196

Members' other interests

122,788

122,788

Amounts due from members

(63,400

)

(60,963

)

68,584

71,021

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 6 December 2025 and were signed by:

B M Gates - Designated member

1.	STATUTORY INFORMATION

Gates 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 as modified by the revaluation of certain assets.

Turnover

Revenue 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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. No depreciation is provided in respect of investment property.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

398,000

Disposals

(100,000

)

At 31 March 2025

298,000

NET BOOK VALUE

At 31 March 2025

298,000

At 31 March 2024

398,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2018

233,069

Valuation in 2019

64,931

298,000

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

2025

2024

£

£

Cost

298,000

398,000

Investment property was valued on an open market basis on 31 March 2025 by the members .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

700

713

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

231,796

328,937

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

231,796

328,937

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

231,796

328,937

The bank loan is secured by a fixed charge over the investment properties.

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank pari passu with unsecured creditors. Members' other interests rank pari passu with unsecured creditors.