Company No: OC331811 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	3,655,911		3,655,911
		3,655,911		3,655,911
Current assets
Debtors	4	17,048		12,596
Cash at bank and in hand		2,588		169,986
		19,636		182,582
Creditors: amounts falling due within one year	5	( 6,937)		( 51,642)
Net current assets		12,699		130,940
Total assets less current liabilities		3,668,610		3,786,851
Net assets attributable to members		3,668,610		3,786,851
Represented by
Loans and other debts due to members within one year
Other amounts		1,170,951		1,289,192
		1,170,951		1,289,192
Loans and other debts due to members after more than one year
Other amounts		1,481,838		1,481,838
		1,481,838		1,481,838
Members' other interests
Members' capital classified as equity		1,015,821		1,015,821
		1,015,821		1,015,821
		3,668,610		3,786,851
Total members' interests
Loans and other debts due to members		2,652,789		2,771,030
Members' other interests		1,015,821		1,015,821
		3,668,610		3,786,851

For the financial year ending 31 March 2025 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 Income Statement has not been delivered.

The financial statements of Atalaya Developments LLP (registered number: OC331811) were approved and authorised for issue by the Board of Directors on 11 December 2025. They were signed on its behalf by:

A Browning Designated member

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

Atalaya Developments 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 34 Sea Road, Carlyon Bay, St. Austell, PL25 3SF, 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 £.

Turnover

Turnover comprises rent receivable and associated other income.

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration receivable, excluding discounts and sales taxes.

Interest income

Interest income is recognised when it is probable that the economic benefit will flow to the LLP and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

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 Income Statement 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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year, including members	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	3,655,911
As at 31 March 2025	3,655,911

Valuation

Valuations were made by members, on an open market value for existing use basis.

Historic cost

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

	2025		2024
	£		£
Historic cost	2,853,250		2,853,250

4. Debtors

	2025		2024
	£		£
Trade debtors	7,416		2,750
Other debtors	9,632		9,846
	17,048		12,596

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	6,937		51,642