ACCOUNTS - Final Accounts

Loans and other debts due to members

Registered number: OC399771

SCP PROPERTY LLP

UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2025

SCP PROPERTY LLP

REGISTERED NUMBER: OC399771

BALANCE SHEET

AS AT 5 APRIL 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		217,150		217,150
			217,150		217,150
Current assets
Cash at bank and in hand	5	6,386		7,645
		6,386		7,645
Creditors: amounts falling due within one year	6	(23,300)		(23,437)
Net current liabilities			(16,914)		(15,792)
Total assets less current liabilities			200,236		201,358
Creditors: amounts falling due after more than one year	7		(61,781)		(71,318)

Net assets			138,455		130,040

Represented by:
Loans and other debts due to members within one year
Other amounts	8	138,455	130,040

Total members' interests
Loans and other debts due to members	8	138,455	130,040

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SCP PROPERTY LLP

REGISTERED NUMBER: OC399771

BALANCE SHEET (CONTINUED)

AS AT 5 APRIL 2025

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by:

S Jennings Esq

Designated member

Date: 3 December 2025

The notes on pages 3 to 6 form part of these financial statements.

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SCP PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1.	General information

The LLP, incorporated in England and Wales, has its registered office at Winchester Court, 1 Forum Place, Fiddlebridge Lane, Hatfield, Herts, AL10 0RN. The LLP's principal activity is to invest in property.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover comprises revenue recognised by the LLP in respect of rental income receivable during the period, exclusive of Value Added Tax.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.6

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

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SCP PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

2.7

Investment property

Investment property is carried at fair value determined annually by the partners and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Information in relation to members

The average monthly number of persons (including members) employed during the year was as follows:

	2025	2024
	No.	No.

LLP members	2	2

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SCP PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

4.	Investment property

		Long-term leasehold investment property
		£
	Valuation
	At 6 April 2024	217,150
	At 5 April 2025	217,150

Investment property was valued on an open market basis on 05 April 2025 by the members, who deem the value as appropriate. If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured at a value of £217,150.

5.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	6,386	7,645
	6,386	7,645

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	10,358	10,100
Other creditors	7,160	7,160
Accruals and deferred income	5,782	6,177
	23,300	23,437

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SCP PROPERTY LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	61,781	71,318
	61,781	71,318

Secured loans

The bank loan is secured by a legal charge over the leasehold property.


	Other amounts due to members	(138,455)	(130,040)

Loans and other debts due to members may be further analysed as follows:

					2025	2024
					£	£


	Falling due within one year	(138,455)	(130,040)

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

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