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Registered number: OC343623
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Delessert de Maligny LLP
Financial statements
Information for filing with the registrar
5 April 2025
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Statement of financial position
As at 5 April 2025
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Loans and other debts due to members within one year
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Members' capital classified as equity
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Loans and other debts due to members
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1
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Statement of financial position (continued)
As at 5 April 2025
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The entity 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.
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 4 December 2025.
Registered number: OC343623
The notes on pages 3 to 6 form part of these financial statements.
2
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Notes to the financial statements
Year ended 5 April 2025
The LLP is registered in England and Wales. The address of the registered office is Pigdon Hall, Pigdon, Morpeth, Northumberland, NE61 3SE.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The following principal accounting policies have been applied:
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Foreign currency translation
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Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The turnover shown in the profit and loss account represents rents receivable during the year.
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Division and distribution of profits
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A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
3
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Notes to the financial statements
Year ended 5 April 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property should be revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. However, the members have taken the decision not to revalue the investment properties and they are therefore shown in the accounts at cost. This is not in accordance with UK GAAP.
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
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The average monthly number of employees, including members, during the year was 5 (2024 - 7).
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4
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Notes to the financial statements
Year ended 5 April 2025
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Charge for the year on owned assets
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As noted in the accounting policies, investment properties are shown in the accounts at cost and this policy is not in accordance with UK GAAP.
If the investment properties had been revalued at the balance sheet date the potential revaluation adjustment could have been £2,500,000 however, there are doubts as to whether the properties could be disposed of at the values indicated and whether the revaluation surplus is temporary.
5
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Notes to the financial statements
Year ended 5 April 2025
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Prepayments and accrued income
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Creditors: amounts falling due within one year
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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Creditors: amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
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6
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