Gorasia LLP Accounts






Gorasia LLP

	Registered No. OC314693
	Information for Filing with the Registrar
		31 March 2025

at	31 March 2025

Registered No.			OC314693	Notes	2025	2024
					£	£
Fixed assets


	Investment property			4	805,717	805,717

					805,717	805,717
Current assets

	Debtors			5	1,750	1,580

	Cash at bank and in hand				49,939	119,779
					51,689	121,359
Creditors: Amounts falling due within one year				6	(169,568)	(164,386)
Net current liabilities					(117,879)	(43,027)
Total assets less current liabilities					687,838	762,690
Creditors: Amounts falling due after more than one year				7	(245,166)	(250,973)

Net assets attributable to members					442,672	511,717

Represented by:
	Loans and other debts due to members				319,159	443,926
	Members' other interests
		Members' capital			369,714	369,714

		Other reserves			(246,201)	(301,923)
					123,513	67,791

					442,672	511,717



These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

For the year ended 31 March 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) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the members have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the members on 23 December 2025 and signed on its behalf by:
N. Gorasia
Designated member
23 December 2025

for the year ended 31 March 2025

General information

Gorasia LLP is a limited liability partnership and incorporated in England and Wales.

Its registered number is: OC314693

Its registered office is:

201 Moss Lane

Pinner

Middlesex

HA5 3BE

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in December 2018.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments (except those held as subsidiaries, associates or joint ventures) are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Taxation

Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

Retirement benefits of former members

The retirement benefits of former members are determined annually base on a formula directly linked to the profits of the partnership. Provision is made at the date of retirement of the member for the estimated present value of the expected future payments to that member. On initial recognition the estimated current value of the future pension is transferred from members' interests to provisions for liabilities and charges. The unwinding of the discount of the provision to retirement benefits is charged to the profit and loss account and including in interest payable. The liability is reassessed annually and any changes in the estimates are included within the profit and loss account.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the LLP has no further payments obligations.
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3	Employees
		2025	2024
		Number	Number

	The average number of persons employed during the year was:	0	0

4	Investment property
		Freehold Investment Property
		£
	Valuation
	At 1 April 2024	805,717



	At 31 March 2025	805,717

5	Debtors
		2025	2024
		£	£
	Trade debtors	1,750	362


	VAT recoverable	-	1,218


		1,750	1,580

6	Creditors:
	amounts falling due within one year
		2025	2024
		£	£
	Bank loans and overdrafts	-	-




	Other taxes and social security	5,891	-
	Other creditors	146,479	148,832
	Accruals and deferred income	17,198	15,554
		169,568	164,386

7	Creditors:
	amounts falling due after more than one year
		2025	2024
		£	£
	Bank loans and overdrafts	245,166	250,973






		245,166	250,973

8	Loans and other debts due to members
		2025	2024
		£	£

	Loans from members	319,159	443,926


		319,159	443,926

	Amounts falling due within one year	319,159	-

		319,159	443,926