REGISTERED NUMBER: OC333895 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Andrew Craig Property Management LLP

Page

General Information

1

Report of the Members

2

Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

C J Craig

A F Craig

A C Craig

S F Carr

REGISTERED OFFICE:

Albert House

Albert Drive

Gateshead

Tyne and Wear

NE9 6EH

REGISTERED NUMBER:

OC333895 (England and Wales)

ACCOUNTANTS:

Thornton Accountancy Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

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 letting and property management.

DESIGNATED MEMBERS

The designated members during the year under review were:

C J Craig

A F Craig

A C Craig

S F Carr

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £13,604 (2024 - £5,302 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A F Craig - Designated member

17 December 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 Andrew Craig Property Management 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.

This report is made solely to the members of Andrew Craig Property Management 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 Andrew Craig Property Management LLP and state those matters that we have agreed to state to the members of Andrew Craig Property Management LLP, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Andrew Craig Property Management 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 Andrew Craig Property Management LLP. You consider that Andrew Craig Property Management 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 Andrew Craig Property Management 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.

Thornton Accountancy Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

17 December 2025

TURNOVER

80,123

454,536

Cost of sales

30,000

30,000

GROSS PROFIT

50,123

424,536

Administrative expenses

30,601

429,236

19,522

(4,700

)

Other operating income

-

1,472

OPERATING PROFIT/(LOSS)

4

19,522

(3,228

)

Interest payable and similar expenses

5,918

2,074

PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

13,604

(5,302

)

FIXED ASSETS

Tangible assets

5

191,622

111,511

CURRENT ASSETS

Debtors

6

325,710

299,914

Cash at bank and in hand

10,234

47,717

335,944

347,631

CREDITORS

Amounts falling due within one year

7

1,090,584

1,044,102

NET CURRENT LIABILITIES

(754,640

)

(696,471

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(563,018

)

(584,960

)

CREDITORS

Amounts falling due after more than one year

8

88,520

66,578

NET LIABILITIES ATTRIBUTABLE TO MEMBERS

(651,538

)

(651,538

)

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

(651,538

)

(651,538

)

(651,538

)

(651,538

)

TOTAL MEMBERS' INTERESTS

Members' other interests

(651,538

)

(651,538

)

Amounts due from members

6

(315,583

)

(288,805

)

(967,121

)

(940,343

)

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 17 December 2025 and were signed by:

A F Craig - Designated member

1.	STATUTORY INFORMATION

Andrew Craig Property Management 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.

Going Concern

Notwithstanding the net liabilities of the limited liability partnership, the financial statements have been prepared on the going concern basis as the limited liability partnership will be provided with ongoing support of the members' connected companies.

The members are confident that the limited liability partnership will continue in operational existence for the foreseeable future. The members are confident that the limited liability partnership has sufficient resources and the support of the connected entities available to continue trading through this period and for at least the next twelve months.

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.

Plant and machinery etc

-

25% on reducing balance per annum and 15% on reducing balance per annum

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members' and, where such an amount relates to current year profits, they are recognised within 'Members' remuneration charged as an expense' in arriving at the relevant year's result. Undivided amounts that are classified as equity are shown within 'Members' other interests'. Amounts recoverable from members are presented as debtors and shown as amounts due from members within members' interests.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense and presented as members remuneration charged as an expense in arriving at the result for the relevant year. To the extent that they remain unpaid at the period end, they are shown as liabilities.

Conversely, where profits are divided only after a decision by the LLP or its representative, so the LLP has an unconditional right to refuse payment, such profits are classed as equity rather than as liabilities. They are therefore shown as a residual amount available for discretionary division among members in arriving at the result for the year and are shown as appropriations of equity when they are allocated.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2024 - 10 ).

4.	OPERATING PROFIT/(LOSS)

The operating profit (2024 - operating loss) is stated after charging:

Period

31/12/22

Year Ended

to

31/3/25

31/3/24

£

£

Depreciation - owned assets

29,032

22,436

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

439,385

Additions

113,280

Disposals

(73,460

)

At 31 March 2025

479,205

DEPRECIATION

At 1 April 2024

327,874

Charge for year

29,032

Eliminated on disposal

(69,323

)

At 31 March 2025

287,583

NET BOOK VALUE

At 31 March 2025

191,622

At 31 March 2024

111,511

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

7,936

8,918

Other debtors

317,774

290,996

325,710

299,914

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

11,148

11,148

Trade creditors

43

4,005

Amounts owed to associates

1,045,507

975,507

Taxation and social security

70

19,626

Other creditors

33,816

33,816

1,090,584

1,044,102

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,687

12,411

Hire purchase contracts

85,833

54,167

88,520

66,578

9.	RELATED PARTY DISCLOSURES

At the year end date, the company owed the following:-

Amounts owed to related parties

2025 2024

£ £

Connected 1,045,507 975,507

These are related parties of the limited liability partnership as they are under the control of the members of the limited liability partnership.

The amounts outstanding are unsecured, non-interest bearing and will be settled in cash. No guarantees have been given.