REGISTERED NUMBER: OC411274 (England and Wales)

MABEL PROPERTIES LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General information

1

Balance sheet

2

Notes to the financial statements

4

Chartered accountants' report

7

DESIGNATED MEMBERS:

P C Watson

S C Watson

C G Watson

Mrs G M Watson

REGISTERED OFFICE:

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

REGISTERED NUMBER:

OC411274 (England and Wales)

ACCOUNTANTS:

Berringers LLP

Chartered Accountants

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

FIXED ASSETS

Tangible assets

4

1,576

2,087

Investments

5

100

100

Investment property

6

8,711,211

9,386,211

8,712,887

9,388,398

CURRENT ASSETS

Debtors

7

302,252

277,657

Cash at bank

429,822

86,075

732,074

363,732

CREDITORS

Amounts falling due within one year

8

14,180

16,415

NET CURRENT ASSETS

717,894

347,317

TOTAL ASSETS LESS CURRENT LIABILITIES

9,430,781

9,735,715

CREDITORS

Amounts falling due after more than one year

9

6,541,774

6,756,774

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,889,007

2,978,941

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

2,889,007

2,978,941

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

2,889,007

2,978,941

Amounts due from members

7

(25,000

)

-

2,864,007

2,978,941

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 16 December 2025 and were signed by:

P C Watson - Designated member

1.	STATUTORY INFORMATION

Mabel Properties 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

266

9,640

9,906

Additions

-

465

465

At 31 March 2025

266

10,105

10,371

DEPRECIATION

At 1 April 2024

67

7,752

7,819

Charge for year

49

927

976

At 31 March 2025

116

8,679

8,795

NET BOOK VALUE

At 31 March 2025

150

1,426

1,576

At 31 March 2024

199

1,888

2,087

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

100

NET BOOK VALUE

At 31 March 2025

100

At 31 March 2024

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

9,386,211

Disposals

(675,000

)

At 31 March 2025

8,711,211

NET BOOK VALUE

At 31 March 2025

8,711,211

At 31 March 2024

9,386,211

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,300

4,300

Amounts owed by group undertakings

272,952

272,952

Other debtors

25,000

405

302,252

277,657

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other creditors

-

823

Accruals and deferred income

14,180

15,592

14,180

16,415

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

735,000

950,000

Other creditors

5,806,774

5,806,774

6,541,774

6,756,774

The above bank loan is for 5 years and incurs interest at 8.5% per annum. It is repayable in full on 31 January 2028. Interest is charged on a quarterly basis as an expense to the company.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

11.	RELATED PARTY DISCLOSURES

There is a loan to WGW Properties Limited for £272,952 (2024 - £272,952) a company which is wholly owned by Mabel Properties LLP. The retained reserves in WGW Properties Limited amounts to £125,832 (2024 - £107,728). No interest is charged on the loan.

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 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 Mabel Properties 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 Mabel Properties 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 Mabel Properties LLP and state those matters that we have agreed to state to the members of Mabel Properties 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 Mabel Properties LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Mabel Properties 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 Mabel Properties LLP. You consider that Mabel Properties 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 Mabel Properties 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.

Berringers LLP

Chartered Accountants

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

16 December 2025