REGISTERED NUMBER: OC378244 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

WESTFIELD HOUSE RENTALS LLP

Page

General Information

1

Report of the Members

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

A C Wills

N D Wills

REGISTERED OFFICE:

Westfield House

Goudhurst Road

Marden

Kent

TN12 9NW

REGISTERED NUMBER:

OC378244 (England and Wales)

ACCOUNTANTS:

Friend & Grant Ltd

Bryant House

Bryant Road

Strood

Rochester

Kent

ME2 3EW

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property management and investment.

DESIGNATED MEMBERS

The designated members during the year under review were:

A C Wills

N D Wills

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £100,773 (2024 - £89,372 profit).

MEMBERS' INTERESTS

Members drawings are determined solely by the profits of the LLP. Unallocated profits and losses are included within amounts owed to members.

Throughout the financial period members receive monthly drawings, the level and timing of members' drawings and releases of capital are determined after taking into consideration the cash requirements of the business.

At the end of the financial period, profits or losses are allocated to members in accordance with the partnership trust deed and as determined from time to time by the designated members. Members capital can be repaid at any time.

ON BEHALF OF THE MEMBERS:

A C Wills - Designated member

19 September 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Westfield House Rentals LLP for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Westfield House Rentals LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westfield House Rentals LLP and state those matters that we have agreed to state to the members of Westfield House Rentals LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westfield House Rentals LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Westfield House Rentals LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westfield House Rentals LLP. You consider that Westfield House Rentals LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westfield House Rentals LLP. For this reason, 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 statutory financial statements.

Friend & Grant Ltd

Bryant House

Bryant Road

Strood

Rochester

Kent

ME2 3EW

19 September 2025

TURNOVER

219,362

206,474

Property expenses

58,356

55,418

Administrative expenses

60,253

61,723

118,609

117,141

OPERATING PROFIT

4

100,753

89,333

Interest receivable and similar income

20

39

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

100,773

89,372

FIXED ASSETS

Tangible assets

5

16,361

21,232

Investment property

6

4,615,000

4,627,000

4,631,361

4,648,232

CURRENT ASSETS

Debtors

7

20,201

20,650

Prepayments and accrued income

1,359

992

Cash at bank

253

937

21,813

22,579

CREDITORS

Amounts falling due within one year

8

1,499

5,528

NET CURRENT ASSETS

20,314

17,051

TOTAL ASSETS LESS CURRENT LIABILITIES

4,651,675

4,665,283

ACCRUALS AND DEFERRED INCOME

15,016

13,113

NET ASSETS ATTRIBUTABLE TO MEMBERS

4,636,659

4,652,170

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

3,195,306

3,198,817

MEMBERS' OTHER INTERESTS

Fair value reserve

10

1,441,353

1,453,353

4,636,659

4,652,170

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

3,195,306

3,198,817

Members' other interests

1,441,353

1,453,353

4,636,659

4,652,170

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 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 19 September 2025 and were signed by:

A C Wills - Designated member

N D Wills - Designated member

1.	STATUTORY INFORMATION

Westfield House Rentals LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 financial statements have been compiled on a basis which enables profits to be calculated in accordance with generally accepted accounting practice and which provides sufficient and relevant information to enable the completion of a tax return.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.The policies adopted for the recognition of turnover are as following:

- Rents receivable

Turnover represents rents receivable.

- Rendering of services

Turnover is usually recognised on the basis of the period of occupancy of each property.

- Interest receivable

Interest income is recognised using the effective interest method.

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

Tangible fixed assets other than freehold property are stated at cost less depreciation. No depreciation has been charged in respect of freehold investment properties as the members consider their cost to be equivalent to their open market value on an existing use basis.

Investment property

Investment property is included at fair value. Valuations are carried out annually by the partners based on:

- how the market could be expected to price the asset

- measuring the risk return factors inherent in the asset

Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

Hire purchase and leasing commitments

Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

5,455

7,079

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

12,767

7,361

88,450

108,578

Additions

584

-

-

584

At 31 March 2025

13,351

7,361

88,450

109,162

DEPRECIATION

At 1 April 2024

8,960

5,349

73,037

87,346

Charge for year

1,098

504

3,853

5,455

At 31 March 2025

10,058

5,853

76,890

92,801

NET BOOK VALUE

At 31 March 2025

3,293

1,508

11,560

16,361

At 31 March 2024

3,807

2,012

15,413

21,232

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

4,627,000

Revaluations

(12,000

)

At 31 March 2025

4,615,000

NET BOOK VALUE

At 31 March 2025

4,615,000

At 31 March 2024

4,627,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

1,441,353

Cost

3,173,647

4,615,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

20,201

20,650

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

709

4,856

Taxation and social security

610

492

Other creditors

180

180

1,499

5,528

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

10.

RESERVES

Fair

value

reserve

£

At 1 April 2024

1,453,353

Revaluation in the year

(12,000

)

At 31 March 2025

1,441,353