REGISTERED NUMBER: OC435650 (England and Wales)

MEGJESTIC PROPERTIES LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

M R Sturge

Mrs S Sturge

REGISTERED OFFICE:

424 Margate Road

Ramsgate

Kent

CT12 6SJ

REGISTERED NUMBER:

OC435650 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Investment property

4

1,565,840

1,565,840

CURRENT ASSETS

Debtors

5

18,492

9,949

Cash at bank

7,415

9,529

25,907

19,478

CREDITORS

Amounts falling due within one year

6

(6,339

)

(1,987

)

NET CURRENT ASSETS

19,568

17,491

TOTAL ASSETS LESS CURRENT LIABILITIES

1,585,408

1,583,331

CREDITORS

Amounts falling due after more than one year

7

(1,082,414

)

(1,075,142

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

502,994

508,189

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

502,994

508,189

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

502,994

508,189

Amounts due from members

5

(17,742

)

(9,949

)

485,252

498,240

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 1 December 2025 and were signed by:

M R Sturge - Designated member

1.	STATUTORY INFORMATION

Megjestic 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 1 April 2024

and 31 March 2025

1,565,840

NET BOOK VALUE

At 31 March 2025

1,565,840

At 31 March 2024

1,565,840

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts due from members

17,742

9,949

Prepayments

750

-

18,492

9,949

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,959

667

Accrued expenses

1,380

1,320

6,339

1,987

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

ORE Lending Ltd

746,313

739,068

Mortgage

336,101

336,074

1,082,414

1,075,142

8.	FINANCIAL INSTRUMENTS

A fixed charge and negative pledge was placed over the freehold properties in March 2022 by Ore Lending Limited.

This charge and pledge remained in place at the year end.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2025

2024

£

£

Amounts owed to members in respect of profits

502,994

508,189

Falling due within one year

502,994

508,189

Loans and other debts due to members are unsecured and would rank pari passu with other unsecured creditors in the event of a winding up.