| REGISTERED NUMBER: |
| MSPARMAR ENTITY LLP |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| REGISTERED NUMBER: |
| MSPARMAR ENTITY LLP |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 |
| MSPARMAR ENTITY LLP (REGISTERED NUMBER: OC450199) |
| CONTENTS OF THE 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 |
| MSPARMAR ENTITY LLP |
| GENERAL INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants and Tax Advisors |
| Batchworth Lock House |
| 99 Church Street, Rickmansworth |
| WD3 1JJ |
| MSPARMAR ENTITY LLP (REGISTERED NUMBER: OC450199) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 31.3.25 | 31.3.24 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
3,573,534 |
13,000 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
7 |
138,534 |
- |
| MEMBERS' OTHER INTERESTS |
| Capital accounts | 3,435,000 | 13,000 |
| 3,573,534 | 13,000 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 7 | 138,534 | - |
| Members' other interests | 3,435,000 | 13,000 |
| Amounts due from members | (22,531 | ) | - |
| 3,551,003 | 13,000 |
| 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. |
| MSPARMAR ENTITY LLP (REGISTERED NUMBER: OC450199) |
| BALANCE SHEET - continued |
| 31 MARCH 2025 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| MSPARMAR ENTITY LLP (REGISTERED NUMBER: OC450199) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Msparmar Entity 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 |
| Going concern basis |
| After making enquiries, the members have a reasonable expectation that the partnership has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the partnership to continue as a going concern have been identified by the members. The partnership therefore continues to adopt the going concern basis in preparing its financial statements. |
| Turnover |
| Turnover comprises revenue recognised by the partnership in respect of rental income and associated services supplied. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts and rebates. |
| Rental income from operating leases is recognised on a straight-line basis over the lease term. When the partnership provides incentives to its tenants, the cost of incentives is recognised over the lease term, on a straight-line basis, as a reduction of rental income. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
| Investment property |
| Investment property consist of residential property held for long-term rental yields or for capital appreciation or both, and not held for the social benefit or for use in the business. Investment property is measured at deemed cost, including related transaction costs, on initial recognition and subsequently at fair value as at the year end, with changes in fair value recognised in profit and loss. Subsequent expenditure is capitalised to the asset's carrying value only when it is probable that future economic benefits associated with the expenditure will flow to the partnership. All other repairs and maintenance costs are expensed when incurred. Fair value is determined by either independent professional third party valuers or members. Depreciation is not provided in respect of the investment property. Fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions. |
| MSPARMAR ENTITY LLP (REGISTERED NUMBER: OC450199) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| a) Debtors |
| Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| b) Creditors |
| Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| c) Cash at bank |
| Cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Cash and bank balances are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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. |
| Partners' share of profits and drawings |
| Partners are remunerated solely out of the profits of the firm. The amount of profit to be distributed to partners is determined by the board after the year-end. Partners usually draw a proportion of their expected profit share in 12 monthly instalments during the year in which the profit is earned, with the balance of their share of allocated profits paid in 12 equal instalments starting in April of the subsequent financial year. All payments are made subject to the cash requirements of the business. As partners draw a proportion of their expected profit share during the year before the profits for the year have been determined, divided and allocated to them, by the year-end their personal current accounts with MSParmar Entity LLP are in deficit. The total of these accounts is shown in the balance sheet within 'Loans and other debts due to members'. Once the profit for the year has been divided and allocated, the partners' current accounts are in surplus by the amount of their share of the year's profits not already drawn. |
| Taxation |
| Taxation on all partnership profits is solely the personal liability of the individual members. Consequently neither taxation nor related deferred taxation arising in respect of the partnership is accounted for in these financial statements. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was NIL (2024 - NIL). |
| MSPARMAR ENTITY LLP (REGISTERED NUMBER: OC450199) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| Additions |
| At 31 March 2025 |
| DEPRECIATION |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| Additions |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| Investment property is initially recognised at market value in accordance to a beneficial interest transfer agreement between the LLP and transferor(s). Legal title concerning the property and beneficial interest remains with the transferor(s). |
| At the reporting date, investment property were valued, by referencing property websites, on the tenanted open market basis by the members of the partnership. |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Other creditors |
| 7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| In the event of a winding up the amounts included in "Loans and amounts owed to members" will rank equally with unsecured creditors. |
| CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| MSPARMAR ENTITY LLP |
| 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 Msparmar Entity LLP for the year ended 31 March 2025 which comprise the Profit and Loss account, 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 Msparmar Entity 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 Msparmar Entity LLP and state those matters that we have agreed to state to the members of Msparmar Entity 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 Msparmar Entity LLP and its members, as a body, for our work or for this report. |
| It is your duty to ensure that Msparmar Entity 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 Msparmar Entity LLP. You consider that Msparmar Entity 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 Msparmar Entity 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. |
| Chartered Accountants and Tax Advisors |
| Batchworth Lock House |
| 99 Church Street, Rickmansworth |
| WD3 1JJ |