Lomas Property Management LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC426637 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LOMAS PROPERTY MANAGEMENT LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr A Tyrer-Lomas

Steinach Property Limited

REGISTERED OFFICE:

Unit 2.02

High Weald House

Glovers End

Bexhill on Sea

East Sussex

TN39 5ES

REGISTERED NUMBER:

OC426637 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02 High Weald House

Glovers End

Bexhill

TN39 5ES

FIXED ASSETS

Tangible assets

4

12,232

16,309

Investment property

5

2,117,500

2,129,732

2,133,809

CREDITORS

Amounts falling due within one year

6

1,294

1,213

NET CURRENT LIABILITIES

(1,294

)

(1,213

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,128,438

2,132,596

LOANS AND OTHER DEBTS DUE TO
MEMBERS

72,243

71,094

MEMBERS' OTHER INTERESTS

Capital accounts

2,117,500

Other reserves

(61,305

)

(55,998

)

2,128,438

2,132,596

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

72,243

71,094

Members' other interests

2,056,195

2,061,502

2,128,438

2,132,596

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 24 October 2025 and were signed by:

Mr A Tyrer-Lomas - Designated member

1.	STATUTORY INFORMATION

Lomas 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.

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.

TANGIBLE FIXED ASSETS

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

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.

FINANCIAL INSTRUMENTS

The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

Cost

At 1 April 2024

and 31 March 2025

28,995

Depreciation

At 1 April 2024

12,686

Charge for year

4,077

At 31 March 2025

16,763

Net book value

At 31 March 2025

12,232

At 31 March 2024

16,309

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 April 2024

and 31 March 2025

2,117,500

Net book value

At 31 March 2025

2,117,500

At 31 March 2024

2,117,500

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other creditors

1,294

1,213