| Kingscroft Estates LLP |
| Registered number: |
OC359682 |
| Balance Sheet |
| as at 31 March 2025 |
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| Notes |
|
2025 |
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
5,519,992 |
|
6,424,990 |
| Investments |
4 |
|
724,285 |
|
724,285 |
|
|
|
6,244,277 |
|
7,149,275 |
| Current assets |
|
|
|
|
|
| Debtors |
5 |
|
1,057,405 |
|
1,071,906 |
| Cash at bank and in hand |
|
|
29,883 |
|
48,001 |
|
|
|
1,087,288 |
|
1,119,907 |
|
| Creditors: amounts falling due within one year |
6 |
|
(161,696) |
|
(190,588) |
|
| Net current assets |
|
|
925,592 |
|
929,319 |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
7,169,869 |
|
8,078,594 |
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| Creditors: amounts falling due after more than one year |
7 |
|
(1,973,485) |
|
(2,758,824) |
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| Net assets attributable to members |
5,196,384 |
|
5,319,770 |
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|
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| Represented by: |
| Loans and other debts due to members |
9 |
|
1,034,801 |
|
889,078 |
|
|
|
|
|
|
| Members' other interests |
| Members' capital classified as equity |
|
|
1,693,450 |
|
1,693,450 |
| Fair value reserve |
|
|
2,468,133 |
|
2,737,242 |
|
|
|
4,161,583 |
|
4,430,692 |
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|
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|
5,196,384 |
|
5,319,770 |
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|
|
|
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| Total members' interests |
| Loans and other debts due to members |
9 |
|
1,034,801 |
|
889,078 |
| Members' other interests |
|
|
4,161,583 |
|
4,430,692 |
|
|
|
|
5,196,384 |
|
5,319,770 |
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| For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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| These accounts were approved by the members on 6 October 2025 and signed on their behalf by: |
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|
| M R Shooter |
| Designated member |
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| Kingscroft Estates LLP |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
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Turnover |
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Turnover represents the value of rents receivable, hotel income and airbnb income. |
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Division of profits |
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Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account. |
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Taxation |
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Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members. |
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Investment property |
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Investment property is included at fair value. Any surplus or deficit on revaluation is dealt with through the profit and loss account. No depreciation is provided in respect of investment property. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Funiture, fixtures and fittings |
20% reducing balance |
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Investments |
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Investments in associated undertakings are measured at cost less any accumulated impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Members' capital |
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Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the LLP |
- |
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- |
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| 3 |
Tangible fixed assets |
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Freehold investment properties |
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Furniture, fixtures and fittings |
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Total |
| £ |
£ |
£ |
|
Fair value or cost |
|
At 1 April 2024 |
6,400,000 |
|
72,877 |
|
6,472,877 |
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Revaluation |
500,000 |
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|
500,000 |
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Disposals |
(1,400,000) |
|
- |
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(1,400,000) |
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At 31 March 2025 |
5,500,000 |
|
72,877 |
|
5,572,877 |
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Depreciation |
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At 1 April 2024 |
- |
|
47,887 |
|
47,887 |
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Charge for the year |
- |
|
4,998 |
|
4,998 |
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At 31 March 2025 |
- |
|
52,885 |
|
52,885 |
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Net book value |
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At 31 March 2025 |
5,500,000 |
|
19,992 |
|
5,519,992 |
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At 31 March 2024 |
6,400,000 |
|
24,990 |
|
6,424,990 |
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| 4 |
Fixed asset investments |
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| Other |
| investments |
| £ |
|
Cost |
|
At 1 April 2024 |
724,285 |
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At 31 March 2025 |
724,285 |
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| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
16,980 |
|
- |
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Other debtors |
1,040,425 |
|
1,071,906 |
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1,057,405 |
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1,071,906 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans |
105,884 |
|
129,158 |
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Trade creditors |
- |
|
7,813 |
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Other taxes and social security costs |
34,112 |
|
31,770 |
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Other creditors |
5,000 |
|
5,000 |
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Accruals |
16,700 |
|
16,847 |
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|
161,696 |
|
190,588 |
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| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
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Bank loans |
1,973,485 |
|
2,758,824 |
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| 8 |
Loans |
2025 |
|
2024 |
| £ |
£ |
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Creditors include: |
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Instalments falling due for payment after more than five years |
306,968 |
|
382,530 |
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|
306,968 |
|
382,530 |
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Secured bank loans |
2,055,885 |
|
2,859,952 |
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The loans are secured by legal charges over the LLP's properties and by floating charges over the LLP's assets and undertakings. |
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| 9 |
Loans and other debts due to members |
2025 |
|
2024 |
| £ |
£ |
|
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Amounts due to members in respect of profits |
1,034,801 |
|
889,078 |
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Amounts falling due within one year |
1,034,801 |
|
889,078 |
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Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
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| 10 |
Other information |
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Kingscroft Estates LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
2 Hurdwick Place |
|
London |
|
NW1 2JE |