REGISTERED NUMBER: OC325473 (England and Wales)

PRISCOL INVESTMENTS LLP

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C H Smith

Mrs P J Smith

REGISTERED OFFICE:

Beckwith Barn

Warren Estate

Lordship Road

Writtle

Essex

CM1 3WT

REGISTERED NUMBER:

OC325473 (England and Wales)

ACCOUNTANTS:

Lucentum Business Services Ltd

Beckwith Barn

Warren Estate

Lordship Road

Chelmsford

Essex

CM1 3WT

FIXED ASSETS

Tangible assets

5

9,301

10,942

Investment property

6

835,000

835,000

844,301

845,942

CURRENT ASSETS

Debtors

7

424

9,164

Cash at bank

8

7,066

32,907

7,490

42,071

CREDITORS

Amounts falling due within one year

9

24,993

29,942

NET CURRENT (LIABILITIES)/ASSETS

(17,503

)

12,129

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

826,798

858,071

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

826,798

858,071

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

826,798

858,071

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 23 December 2025 and were signed by:

C H Smith - Designated member

1.	STATUTORY INFORMATION

Priscol Investments 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 presentation currency of the financial statements is the Pound Sterling (£).

Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Judgements and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements. The members have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset. The valuation method is further described in Note 15 together with the valuation of the property at the reporting date.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met.

Turnover represents rents, insurance and service charges received for the period, net of value added tax.Turnover is recognised in line with the period the properties are rented.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation of a tangible fixed asset begins when it is in the location and condition necessary available for the use intended.

Tangible fixed asset depreciation is included in administrative expenses in the Income Statement.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in Income Statement in the period in which they arise.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.

Borrowing costs

All borrowing costs are recognised in the Income Statement in the period in which they are incurred.

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, such as plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the Income Statement.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in the Income Statement.

Members' capital and repayment of capital

In accordance with the LLP agreement, the firm determines the amount of profit to be treated as members’ fixed remuneration. This profit is treated as allocated. The members’ agreement sets out the % required to be automatically allocated. Allocated profit is included within ‘loans and other debts due to members’ in ‘other amounts’.

Drawings are treated as payments on account of profit allocation and are only repayable to the LLP in so far as there are insufficient profits to allocate against such drawings. Any drawings in excess of total profits allocated would be included within ‘amounts due from members’ within debtors.

The capital requirements of the partnership are determined by the members/Board and are reviewed regularly.

Taxation

Tax payable on the profits arising in the LLP are a personal tax liability of the members of the LLP and therefore are not included as a tax charge or provision within these financial statements.

4.	EMPLOYEE INFORMATION

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

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

145,312

DEPRECIATION

At 1 April 2024

134,370

Charge for year

1,641

At 31 March 2025

136,011

NET BOOK VALUE

At 31 March 2025

9,301

At 31 March 2024

10,942

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

835,000

NET BOOK VALUE

At 31 March 2025

835,000

At 31 March 2024

835,000

The fair value of the property at the balance sheet date is based on a recent valuation carried out by the members of the limited liability partnership, who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

424

9,164

8.	CASH AT BANK

2025

2024

£

£

Bank account

7,066

32,907

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

1,041

1,027

Other creditors

23,952

28,915

24,993

29,942

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

826,798

858,071

Falling due within one year

826,798

858,071

In the event of a winding up, amounts in 'Loans & other debts due to/from members' would rank equally to other unsecured creditors. No protection is afforded in respect of items shown under 'Members other interests'.