Company No: OC437152 (England and Wales)

Contents

• Limited Liability Partnership Information
• Accountants' Report
• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

Designated members	R K E Penrose
	S N S Penrose

Registered office	56 Bekesbourne Lane Littlebourne
	Canterbury
	CT3 1UY
	United Kingdom

Registered number

OC437152 (England and Wales)

Accountant	Kreston Reeves LLP
	37 St Margarets Street
	Canterbury
	Kent
	CT1 2TU

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to Limited Liability Partnerships, we have prepared for your approval the financial statements of Manor Grove Property LLP for the financial year ended 05 April 2025 which comprise the Balance Sheet, the Reconciliation of Members' Interests and the related notes 1 to 6 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 at www.icaew.com/regulation.

It is your duty to ensure that Manor Grove Property 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 Manor Grove Property LLP. You consider that Manor Grove Property LLP is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Manor Grove Property 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.

This report is made solely to the members of Manor Grove Property LLP, as a body, in accordance with the terms of our engagement letter dated 19 December 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Manor Grove Property LLP and state those matters that we have agreed to state to members of Manor Grove Property LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Manor Grove Property LLP and its members as a body for our work or for this report.

Kreston Reeves LLP

37 St Margarets Street
Canterbury
Kent
CT1 2TU

16 December 2025

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	2,334,000		2,334,000
		2,334,000		2,334,000
Current assets
Debtors	4	1,359		1,332
Cash at bank and in hand		33,899		21,937
		35,258		23,269
Creditors: amounts falling due within one year	5	( 7,278)		( 6,886)
Net current assets		27,980		16,383
Total assets less current liabilities		2,361,980		2,350,383
Creditors: amounts falling due after more than one year	6	( 563,482)		( 563,482)
Net assets attributable to members		1,798,498		1,786,901
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		123,980		2,190
Other amounts		0		99,854
		123,980		102,044
Members' other interests
Members' capital classified as equity		1,674,518		1,684,857
		1,674,518		1,684,857
		1,798,498		1,786,901
Total members' interests
Loans and other debts due to members		123,980		102,044
Members' other interests		1,674,518		1,684,857
		1,798,498		1,786,901

For the financial year ending 05 April 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Manor Grove Property LLP (registered number: OC437152) were approved and authorised for issue by the Board of Directors on 16 December 2025. They were signed on its behalf by:

S N S Penrose Designated member

	EQUITY Members' other interests			DEBT Loans and other debts due to members less any amounts due from members in debtors			Total members' interests
	Members' capital (classified as equity)	Other reserves	Total	Members' capital (classified as debt)	Other amounts	Total	Total
	£	£	£	£	£	£	£
Amounts due to members				0	96,295	96,295
Balance at 06 April 2023	1,684,857	0	1,684,857	0	96,295	96,295	1,781,152
Profit for the financial year available for discretionary division among members	0	65,330	65,330	0	0	0	65,330
Members' interest after profit for the financial year	1,684,857	65,330	1,750,187	0	96,295	96,295	1,846,482
Division of profit	0	(65,330)	(65,330)	0	65,330	65,330	0
Introduced by members	0	0	0	2,190	0	2,190	2,190
Drawings	0	0	0	0	(61,771)	(61,771)	(61,771)
Amounts due to members				2,190	99,854	102,044
Balance at 05 April 2024	1,684,857	0	1,684,857	2,190	99,854	102,044	1,786,901
Profit for the financial year available for discretionary division among members	0	44,687	44,687	0	0	0	44,687
Members' interest after profit for the financial year	1,684,857	44,687	1,729,544	2,190	99,854	102,044	1,831,588
Division of profit	0	(44,687)	(44,687)	0	44,687	44,687	0
Introduced by members	0	0	0	516,140	0	516,140	516,140
Transfers	(59,581)	0	(59,581)	(2,190)	0	(2,190)	(61,771)
Drawings	0	0	0	0	(549,230)	(549,230)	(549,230)
2024 movement of drawings	0	0	0	0	61,771	61,771	61,771
Revert to correct equity balance	49,242	0	49,242	(49,242)	0	(49,242)	0
Transfer to other amounts	0	0	0	(342,918)	342,918	0	0
Amounts due to members				123,980	0	123,980
Balance at 05 April 2025	1,674,518	0	1,674,518	123,980	0	123,980	1,798,498

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Manor Grove Property LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 56 Bekesbourne Lane Littlebourne, Canterbury, CT3 1UY, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Division and distribution of profits

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the Statement of comprehensive income.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the members, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Investment property

	Investment property
	£
Valuation
As at 06 April 2024	2,334,000
As at 05 April 2025	2,334,000

The 2025 valuations were made by the members, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	2,334,000		2,334,000

4. Debtors

	2025		2024
	£		£
Accrued income	1,359		1,332

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Accruals and deferred income	7,278		6,886

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	563,482		563,482

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans	416,898		563,482