Company No: OC398770 (England and Wales)

Contents

• Statement of Financial Position
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Investment property	3	13,320,000		13,320,000
		13,320,000		13,320,000
Current assets
Debtors
- due within one year	4	199,056		10,549,106
- due after more than one year	4	9,944,000		9,437,644
Cash at bank and in hand		2,525,443		497,683
		12,668,499		20,484,433
Creditors: amounts falling due within one year	5	( 672,119)		( 670,724)
Net current assets		11,996,380		19,813,709
Total assets less current liabilities		25,316,380		33,133,709
Provision for liabilities	6	( 12,253,000)		( 12,253,000)
Net assets attributable to members		13,063,380		20,880,709
Represented by
Members' other interests
Members' capital classified as equity		4,602,240		12,228,000
Other reserves		8,461,140		8,652,709
		13,063,380		20,880,709
		13,063,380		20,880,709
Total members' interests
Members' other interests		13,063,380		20,880,709
		13,063,380		20,880,709

For the financial year ending 31 December 2024 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.

Members' responsibilities:

• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Swanscombe Development LLP (registered number: OC398770) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

Land Logical Ebbsfleet 2 Limited Designated member

Land Logical Ebbsfleet Limited Designated member

08 December 2025

	EQUITY Members' other interests			Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Total
	£	£	£	£
Balance at 01 January 2023	12,228,000	11,449,549	23,677,549	23,677,549
Loss for the financial year available for discretionary division among members	0	(2,796,840)	(2,796,840)	(2,796,840)
Members' interest after loss for the financial year	12,228,000	8,652,709	20,880,709	20,880,709
Balance at 31 December 2023	12,228,000	8,652,709	20,880,709	20,880,709
Loss for the financial year available for discretionary division among members	0	(191,569)	(191,569)	(191,569)
Members' interest after loss for the financial year	12,228,000	8,461,140	20,689,140	20,689,140
Repayment of capital	(7,625,760)	0	(7,625,760)	(7,625,760)
Balance at 31 December 2024	4,602,240	8,461,140	13,063,380	13,063,380

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Swanscombe Development LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Unit C, 3 Regal Way, Watford, WD24 4YJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The members have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

The fair value is determined annually by the members, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Profit and Loss Account.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the LLP during the year	0		0

2. Members' remuneration

Profits are shared among the members in accordance with agreed profit sharing arrangements. Members are required to make their own provision for pensions from their profit shares.

	2024		2023
	Number		Number
Average number of members during the financial year	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	13,320,000
As at 31 December 2024	13,320,000

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2024		2023
	£		£
Historic cost	8,119,533		8,119,533

4. Debtors

	2024		2023
	£		£
Debtors: amounts falling due within one year
Trade debtors	176,954		222,623
Amounts owed by related parties	0		10,220,303
Other debtors	22,102		106,180
	199,056		10,549,106
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings	9,944,000		9,437,644

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	225,438		240,722
Amounts owed to related parties	0		2,400
Other taxation and social security	1,862		0
Other creditors	444,819		427,602
	672,119		670,724

6. Provision for liabilities

	2024		2023
	£		£
Environmental provision	12,253,000		12,253,000

	Environmental		Total
	£		£
At 01 January 2024	12,253,000		12,253,000
At 31 December 2024	12,253,000		12,253,000

Provisions relating to the environmental obligations associated with the investment property expected to be incurred evenly over the next 12 years (until 2036).

7. Related party transactions

Other related party transactions

	2024		2023
	£		£
Amounts due from related party < 1 year	0		10,220,303
Amounts due from related party > 1 year	9,944,000		9,437,644
Amounts owed to related party < 1 year	0		2,400

8. Events after the Balance Sheet date

On 30 June 2025, the LLP was sold to Land Logical Ebbsfleet Limited and Land Logical Ebbsfleet 2 Limited.