1 April 2024 false No description of principal activity Taxfiler 2024.6 OC435456 business:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC435456 2024-03-31 OC435456 2024-04-01 2025-03-31 OC435456 business:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC435456 business:FilletedAccounts 2024-04-01 2025-03-31 OC435456 2025-03-31 OC435456 business:PartnerLLP1 2024-04-01 2025-03-31 OC435456 business:PartnerLLP2 2024-04-01 2025-03-31 OC435456 business:RegisteredOffice 2024-04-01 2025-03-31 OC435456 2024-03-31 OC435456 core:AfterOneYear 2025-03-31 OC435456 core:AfterOneYear 2024-03-31 OC435456 core:ShareCapital 2025-03-31 OC435456 core:ShareCapital 2024-03-31 OC435456 core:RetainedEarningsAccumulatedLosses 2025-03-31 OC435456 core:RetainedEarningsAccumulatedLosses 2024-03-31 OC435456 business:SmallEntities 2024-04-01 2025-03-31 OC435456 countries:EnglandWales 2024-04-01 2025-03-31 OC435456 core:AfterOneYear 2024-04-01 2025-03-31 OC435456 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered No. OC435456 (England and Wales)
Sebam LLP Unaudited accounts for the year ended 31 March 2025
Sebam LLP LLP Information for the year ended 31 March 2025
Designated members
Mrs Bernadette Sessions
Mr Stephen Sessions
Registered Number
OC435456 (England and Wales)
Registered Office
Hill Top Dairy Farm Long Lane Newport Isle of Wight PO30 2NW England
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Sebam LLP Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Investment property
3
1,000,000
1,000,000
Current assets
Debtors
27,028
-
Cash at bank and in hand
(7,102)
(5,619)
19,926
(5,619)
Net current assets/(liabilities)
19,926
(5,619)
Total assets less current liabilities
1,019,926
994,381
Creditors: amounts falling due after more than one year
4
(688,550)
(788,550)
Net assets attributable to members
331,376
205,831
Represented by:
Loans and other debts due to members
5
(635,599)
(605,263)
Members' other interests
Members' capital classified as equity
757,355
637,355
Other reserves
209,620
173,739
966,975
811,094
331,376
205,831
Total members' interests
Loans and other debts due to members
(635,599)
(605,263)
Members' other interests
966,975
811,094
331,376
205,831
For the year ending 31 March 2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small 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.
These 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.
Approved by the members on 10 December 2025.
Mrs Bernadette Sessions Designated member Limited Liability Partnership Registration No. OC435456
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Sebam 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.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Members' remuneration
Remuneration paid to members under a contract of employment is included as an expense in the profit and loss account. Other fixed amounts paid to members are also included within members' remuneration treated as an expense. Members' shares in the profit or loss for the year are accounted for as an allocation of profits. Unallocated profits and losses are included within 'other reserves'.
Members' capital
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital, even if that obligation is conditional.
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.
Investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
2
Statutory information
Sebam LLP is a limited liability partnership, incorporated in England and Wales, registration number OC435456. Its registered office is Hill Top Dairy Farm, Long Lane, Newport, Isle of Wight, PO30 2NW, England.
3
Investment property
2025
£
Fair value at 1 April 2024
1,000,000
At 31 March 2025
1,000,000
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Sebam LLP Notes to the Accounts for the year ended 31 March 2025
4
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
688,550
688,550
Other creditors
-
100,000
688,550
788,550
The bank loans are secured upon the properties held within Investment Properties.
5
Loans and other debts due to members
2025
2024
£
£
Amounts due to members in respect of profits
(635,599)
(605,263)
Amounts falling due within one year
(635,599)
(605,263)
Loans and other debts due to members rank equally with debts due to other unsecured creditors in the event of a winding up.
6
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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