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Registered number: OC442716
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Monument Gosforth LLP
Financial statements
Information for filing with the registrar
31 March 2025
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Balance sheet
At 31 March 2025
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Total assets less current liabilities
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Loans and other debts due to members within one year
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Members' capital classified as a liability
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Members' capital classified as equity
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Loans and other debts due to members
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1
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Balance sheet (continued)
At 31 March 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 480 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 on 12 December 2025.
Monument Real Estate Management Limited
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Registered number: OC442716
The notes on pages 3 to 5 form part of these financial statements.
2
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Notes to the financial statements
Year ended 31 March 2025
Monument Gosforth LLP ('the LLP') is a limited liability partnership incorporated and domiciled in the United Kingdom and registered in England. The registered office is Hay & Kilner, The Lumen, St. James' Boulevard, Newcastle Helix, Newcastle upon Tyne, NE4 5BZ.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies.
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Division and distribution of profits
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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 based upon the method outlined in the member's agreement.
Investments in subsidiaries are measured at cost less accumulated impairment.
The average number of employees during the year was nil (2024: nil).
3
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Notes to the financial statements
Year ended 31 March 2025
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the LLP:
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The aggregate of the share capital and reserves as at 31 March 2025 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
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Aggregate of share capital and reserves
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Amounts owed by group undertakings
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4
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Notes to the financial statements
Year ended 31 March 2025
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Loans and other debts due to members
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Other amounts due to members
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Loans and other debts due to members may be further analysed as follows:
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Falling due within one year
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Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
The LLP is party to a multilateral guarantee with Project Gosforth Limited (subsidiary company) to support that company's borrowings from its bankers. At 31 March 2025, amounts covered by this guarantee were £3,925,000 (2024: £3,925,000).
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Related party transactions
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During the year, the LLP used a loan account to record amounts due to and from Project Gosforth Limited, the LLP's subsidiary undertaking. At the year end, the balance owed to the LLP by Project Gosforth Limited was £3,925,000 (2024: £3,925,000). The loan is unsecured, interest free and no fixed terms of repayment have been agreed.
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5
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