Serpentine Estates LLP - Filleted accounts

Registered number

OC356355

Serpentine Estates LLP

Filleted Accounts

31 March 2025

Serpentine Estates LLP
Registered number:		OC356355
Balance Sheet
as at 31 March 2025
Notes		2025		2024
£			£
Fixed assets
Tangible assets	3	6,854,814		6,991,631
Current assets
Debtors	4	185,293		150,376
Cash at bank and in hand		143,964		93,165
		329,257		243,541

Creditors: amounts falling due within one year	5	(93,824)		(63,989)

Net current assets		235,433		179,552

Total assets less current liabilities		7,090,247		7,171,183



Net assets attributable to members		7,090,247		7,171,183

Represented by:
Loans and other debts due to members	6	7,084,452		7,171,183

Members' other interests
Other reserves		5,795		-

		7,090,247		7,171,183

Total members' interests
Loans and other debts due to members	6	7,084,452		7,171,183
Members' other interests		5,795		-

		7,090,247		7,171,183

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 to 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.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 23 December 2025 and signed on their behalf by:


R M Greenshields
Designated member

Serpentine Estates LLP
Notes to the Accounts
for the year ended 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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.

	Tangible fixed assets
	Investment property is carried at fair value determined annually by the designated members based on external advice received and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


2	Employees		2025		2024
Number				Number

	Average number of persons employed by the LLP		0		0


3	Tangible fixed assets
					Land and buildings
£
	Cost or valuation
	At 1 April 2024				7,128,448
	At 31 March 2025				7,128,448

	Depreciation
	At 1 April 2024				136,817
	Charge for the year				136,817
	At 31 March 2025				273,634

	Net book value
	At 31 March 2025				6,854,814
	At 31 March 2024				6,991,631


	Freehold land and buildings:		2025		2024
£				£
	Historical cost		6,444,365		6,444,365
	Cumulative depreciation based on historical cost		-		-
			6,444,365		6,444,365

	As at 31 March 2024, investment property has been revalued by the designated members, on an open market existing use basis, based on professional advice received. The revalued amount is not materially different to the historic cost value and as such the carrying value above has not been uplifted from historic cost.

4	Debtors		2025		2024
£				£

	Trade debtors		-		35,401
	Other debtors		185,293		114,975
			185,293		150,376


5	Creditors: amounts falling due within one year		2025		2024
£				£

	Trade creditors		63,614		18,436
	Other taxes and social security costs		25,710		16,284
	Other creditors		4,500		29,269
			93,824		63,989


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

	Members capital classified as debt		7,084,452		7,171,183

	Amounts falling due within one year		7,084,452		7,171,183

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


7	Other information

	Serpentine Estates LLP is a limited liability partnership incorporated in England. Its registered office is:
	10 Wellington Street
	Cambridge
	CB1 1HW