REGISTERED NUMBER: OC424575 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2025

FOR

CARVETII PROPERTIES LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Cardweb Limited

Mr G A Ludar-Smith

REGISTERED OFFICE:

24 Cranbourne Road

Carlisle

CA2 7JN

REGISTERED NUMBER:

OC424575 (England and Wales)

ACCOUNTANTS:

J S White & Co Limited

25-29 Sandy Way

Yeadon

Leeds

LS19 7EW

The members present their report with the financial statements of the LLP for the year ended 30 March 2025.

DESIGNATED MEMBERS

The designated members during the year under review were:

Cardweb Limited

Mr G A Ludar-Smith

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £118,011 (2024 - £165,645 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mr G A Ludar-Smith - Designated member

23 December 2025

TURNOVER

154,095

94,792

Cost of sales

-

6,485

GROSS PROFIT

154,095

88,307

Administrative expenses

46,605

56,306

OPERATING PROFIT

107,490

32,001

Interest receivable and similar income

17

-

107,507

32,001

Interest payable and similar expenses

225,518

197,646

LOSS FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(118,011

)

(165,645

)

FIXED ASSETS

Investment property

4

2,202,172

2,202,172

CURRENT ASSETS

Debtors

5

1,896,798

1,814,691

Cash at bank

52

4,144

1,896,850

1,818,835

CREDITORS

Amounts falling due within one year

6

160,946

100,169

NET CURRENT ASSETS

1,735,904

1,718,666

TOTAL ASSETS LESS CURRENT LIABILITIES

3,938,076

3,920,838

CREDITORS

Amounts falling due after more than one year

7

1,948,789

1,824,490

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,989,287

2,096,348

LOANS AND OTHER DEBTS DUE TO MEMBERS

8

1,989,287

2,096,348

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

1,989,287

2,096,348

Amounts due from members

5

(238,070

)

(120,059

)

1,751,217

1,976,289

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 30 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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 23 December 2025 and were signed by:

Mr G A Ludar-Smith - Designated member

1.	STATUTORY INFORMATION

Carvetii Properties 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.

Turnover

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

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.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 March 2024

and 30 March 2025

2,202,172

NET BOOK VALUE

At 30 March 2025

2,202,172

At 30 March 2024

2,202,172

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

9,780

880

Amounts owed by joint ventures

1,498,888

1,542,888

Other debtors

388,130

270,923

1,896,798

1,814,691

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

17,914

3,900

Amounts owed to joint ventures

138,446

88,000

Taxation and social security

41

-

Other creditors

4,545

8,269

160,946

100,169

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

1,948,789

1,824,490

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

1,936,679

1,801,213

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Members rank ahead of other creditors in a liquidation