Prospects Property Partnership LLP

REGISTERED NUMBER: OC400027 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 5th April 2025

for

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

S Elliott

Mrs L Elliott

C Edwards

Mrs C Edwards

REGISTERED OFFICE:

Crymbal Cottage

Crabtree Green

Wrexham

Clwyd

LL13 0YF

REGISTERED NUMBER:

OC400027 (England and Wales)

ACCOUNTANTS:

Aquarius Tax Consultancy Limited

Suite 1B The Beehive

Lions Drive

Shadsworth Business Park

Blackburn

Lancashire

BB1 2QS

The members present their report with the financial statements of the LLP for the year ended 5th April 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of Property investment

DESIGNATED MEMBERS

The designated members during the year under review were:

S Elliott

Mrs L Elliott

C Edwards

Mrs C Edwards

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £102,219 (2024 - £122,375 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

S Elliott - Designated member

10th December 2025

TURNOVER

143,020

141,221

Administrative expenses

16,055

19,376

OPERATING PROFIT

126,965

121,845

Profit/loss on disposal of tangible fixed
assets

4

25,512

-

101,453

121,845

Interest receivable and similar income

766

530

PROFIT FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS

102,219

122,375

FIXED ASSETS

Investment property

5

1,835,144

1,925,144

CURRENT ASSETS

Debtors

288,835

Prepayments and accrued income

12,783

8,794

Cash at bank

34,435

51,032

336,053

348,661

NET CURRENT ASSETS

336,053

348,661

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,171,197

2,273,805

ACCRUALS AND DEFERRED INCOME

39,177

37,855

NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,132,020

2,235,950

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

MEMBERS' OTHER INTERESTS

Capital accounts

2,132,020

2,235,950

2,132,020

2,235,950

TOTAL MEMBERS' INTERESTS

Members' other interests

2,132,020

2,235,950

Amounts due from members

(288,835

)

(288,835

)

1,843,185

1,947,115

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 5th April 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 10th December 2025 and were signed by:

S Elliott - Designated member

1.	STATUTORY INFORMATION

Prospects Property Partnership 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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

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

4.	EXCEPTIONAL ITEMS

5.4.25

5.4.24

£

Profit/loss on disposal of tangible fixed assets

(25,512

)

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6th April 2024

1,925,144

Disposals

(90,000

)

At 5th April 2025

1,835,144

NET BOOK VALUE

At 5th April 2025

1,835,144

At 5th April 2024

1,925,144