REGISTERED NUMBER: OC342086 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SLONECREST LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J F Gillette

C C Okin

REGISTERED OFFICE:

41 The Drive

Esher

Surrey

Great Britain

KT10 8DH

REGISTERED NUMBER:

OC342086 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Investment property

4

140,104

190,012

CURRENT ASSETS

Debtors

5

2,604

2,188

Cash at bank

64

23

2,668

2,211

CREDITORS

Amounts falling due within one year

6

(2,100

)

(2,220

)

NET CURRENT ASSETS/(LIABILITIES)

568

(9

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

140,672

190,003

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

90,566

89,991

MEMBERS' OTHER INTERESTS

Other divisions of profit

50,106

100,012

140,672

190,003

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

90,566

89,991

Members' other interests

50,106

100,012

140,672

190,003

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 Profit And Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 8 December 2025 and were signed by:

J F Gillette - Designated member

1.	STATUTORY INFORMATION

Slonecrest 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 limited liability partnership's principal activities are disclosed in the Members' Report.

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling , which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover

Turnover represents amounts receivable for ground rent for the period of the accounts on an accruals basis.

Members' participating interests

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.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in the profit or loss.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

190,012

Revaluations

(49,908

)

At 31 March 2025

140,104

NET BOOK VALUE

At 31 March 2025

140,104

At 31 March 2024

190,012

Investment property comprises of 9 units in Norland Mansions. The value is the open market value determined by reference to the movement for the year in the housing price index.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

50,104

Cost

90,000

140,104

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

2,604

2,188

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

2,100

2,220

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

8.	ULTIMATE CONTROLLING PARTY

The limited liability partnership is controlled by C C Okin by virtue of having 75% of the voting rights.