Abersoch LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC324518 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ABERSOCH LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Reflect Developments Limited

E C Lister

REGISTERED OFFICE:

2 Back Grafton Street

Altrincham

Cheshire

WA14 1DY

REGISTERED NUMBER:

OC324518 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

19,784

29,527

Investment property

5

1,418,294

1,438,078

1,447,821

CURRENT ASSETS

Debtors

6

307,255

280,022

Cash at bank

5,274

1,948

312,529

281,970

CREDITORS

Amounts falling due within one year

7

393,248

380,932

NET CURRENT LIABILITIES

(80,719

)

(98,962

)

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,357,359

1,348,859

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

766,111

757,611

MEMBERS' OTHER INTERESTS

Capital accounts

591,248

1,357,359

1,348,859

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

766,111

757,611

Members' other interests

591,248

Amounts due from members

6

(302,770

)

(274,940

)

1,054,589

1,073,919

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 22 December 2025 and were signed by:

Reflect Developments Limited - Designated member

1.	STATUTORY INFORMATION

Abersoch 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 as modified by the revaluation of certain assets.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

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

Fixtures and fittings - 33% on cost

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.

Going concern

The members have a reasonable expectation that the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

64,607

DEPRECIATION

At 1 April 2024

35,080

Charge for year

9,743

At 31 March 2025

44,823

NET BOOK VALUE

At 31 March 2025

19,784

At 31 March 2024

29,527

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,418,294

NET BOOK VALUE

At 31 March 2025

1,418,294

At 31 March 2024

1,418,294

Fair value at 31 March 2025 is represented by:

£

Valuation in 2008

172,015

Valuation in 2010

(176,742

)

Valuation in 2018

(221,923

)

Valuation in 2019

(100,000

)

Valuation in 2020

60,000

Valuation in 2021

8,145

Cost

1,676,799

1,418,294

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Amounts due from members

302,770

274,940

VAT

2,689

3,326

Prepayments and accrued income

1,796

1,756

307,255

280,022

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

Trade creditors

4,351

2,092

Other creditors

386,794

377,240

Accruals

2,103

1,600

393,248

380,932

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

31/3/25

31/3/24

£

Amounts owed to members in respect of profits

766,111

757,611

Falling due within one year

766,111

757,611

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

9.	RELATED PARTY DISCLOSURES

The LLP's Designated Members are Reflect Developments Limited and Edward Charles Lister. As at 31 March 2025 the members capital account balances are as follows,:

2025

2024

Reflect Developments Limited

591,248

Loans and other debts due from members as at 31 March 2025 are as follows;

2025

2024

Reflect Developments Limited

302,770

274,940

Loans and other debts due to members as at 31 March 2025 are as follows;

2025

2024

E C Lister

766,111

757,611