Property Consolidation (UK) LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC310772 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PROPERTY CONSOLIDATION (UK) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DESIGNATED MEMBERS:

N A Sellick

J T Sellick

Property Consolidation Limited

REGISTERED OFFICE:

38 Borough High Street

London

SE1 1XW

REGISTERED NUMBER:

OC310772 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Tangible assets

4

79,099

56,909

Investment property

5

6,631,950

6,711,049

6,688,859

CURRENT ASSETS

Debtors

6

1,315,454

Cash at bank

277

5,372

1,315,731

1,320,826

CREDITORS

Amounts falling due within one year

7

292,180

428,822

NET CURRENT ASSETS

1,023,551

892,004

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,734,600

7,580,863

CREDITORS

Amounts falling due after more than one year

8

3,209,029

3,192,231

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,525,571

4,388,632

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

481,006

344,067

MEMBERS' OTHER INTERESTS

Non-distributable reserve

11

4,044,565

4,525,571

4,388,632

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

481,006

344,067

Members' other interests

4,044,565

4,525,571

4,388,632

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 11 December 2025 and were signed by:

N A Sellick - Designated member

1.	STATUTORY INFORMATION

Property Consolidation (UK) 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.

The members have made an assessment about the partnerships ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover represents gross rent receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2024

187,580

63,299

127,075

377,954

Additions

-

48,557

At 31 March 2025

187,580

63,299

175,632

426,511

DEPRECIATION

At 1 April 2024

186,149

61,474

73,422

321,045

Charge for year

358

456

25,553

26,367

At 31 March 2025

186,507

61,930

98,975

347,412

NET BOOK VALUE

At 31 March 2025

1,073

1,369

76,657

79,099

At 31 March 2024

1,431

1,825

53,653

56,909

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

6,631,950

NET BOOK VALUE

At 31 March 2025

6,631,950

At 31 March 2024

6,631,950

Fair value at 31 March 2025 is represented by:

£

Valuation in 2013

1,054,293

Valuation in 2015

1,293,000

Valuation in 2017

2,066,950

Cost

2,217,707

6,631,950

The investment property valuation was assessed on 31 March 2025 by the members of the LLP. The valuation is considered to be the current market value for the investment property concerned taking into account the current rental status of the properties and the income arising.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

15,454

Other debtors

1,300,000

1,315,454

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

125,094

110,204

Hire purchase contracts

12,247

-

Trade creditors

3,300

11,139

Other creditors

151,539

307,479

292,180

428,822

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans

3,181,769

3,192,231

Hire purchase contracts

27,260

-

3,209,029

3,192,231

31.3.25

31.3.24

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

3,180,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

Bank overdrafts

114,632

100,000

Hire purchase contracts

39,507

-

Bank loans

3,180,000

3,334,139

3,280,000

C Hoare & Co holds a charge given by Property Consolidation (UK) LLP for all monies due or to become due from the LLP to the chargee on any account whatsoever. The charge is a fixed charge over the LLP's two investment properties being 1,3,5 Bermondsey Street London and 38 Borough High Street London.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The amounts shown in 'Loans and other debts due to member's' would rank after other unsecured creditors in the event of a winding up.

11.

RESERVES

Non-distributa

reserve

£

At 1 April 2024

and 31 March 2025

4,044,565

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the LLP owed £149,284 (2024: £229,412) to EIG Limited [03734110].

This company is controlled and owned by N A Sellick.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement we have prepared for your approval the attached financial statements from the business accounting records and from information and explanations you have given to us.

The financial statements have been compiled using the going concern and historical cost basis. It is not intended to achieve full compliance with the provisions of UK Generally Accepted Accounting Principles.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information and state those matters that we have agreed to state to you in this report in accordance with the guidance of ICAEW as detailed at icaew.com/compilation and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the person to whom this report is addressed for our work or for this report.

You have approved the financial statements for the period described above, and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

11 December 2025