REGISTERED NUMBER: SO304112 (Scotland)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

H & N Developments LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

H S Atwal

N S Atwal

Hadplaid Ltd

REGISTERED OFFICE:

108/1 George Street

Edinburgh

EH2 4LH

REGISTERED NUMBER:

SO304112 (Scotland)

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

DESIGNATED MEMBERS

The designated members during the year under review were:

H S Atwal

N S Atwal

Hadplaid Ltd

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £151,981 (2024 - £40,136 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

H S Atwal - Designated member

24 December 2025

TURNOVER

75,859

128,000

Administrative expenses

(82,119

)

53,639

OPERATING PROFIT

157,978

74,361

Interest payable and similar expenses

4

5,997

34,225

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

151,981

40,136

FIXED ASSETS

Tangible assets

5

17,871

23,829

Investment property

6

277,834

1,222,808

295,705

1,246,637

CURRENT ASSETS

Debtors

7

-

714

Cash at bank

32,428

8,225

32,428

8,939

CREDITORS

Amounts falling due within one year

8

15,256

184,840

NET CURRENT ASSETS/(LIABILITIES)

17,172

(175,901

)

TOTAL ASSETS LESS CURRENT LIABILITIES

312,877

1,070,736

CREDITORS

Amounts falling due after more than one year

9

14,127

293,506

NET ASSETS ATTRIBUTABLE TO MEMBERS

298,750

777,230

LOANS AND OTHER DEBTS DUE TO MEMBERS

151,750

167,064

MEMBERS' OTHER INTERESTS

Capital accounts

147,000

610,166

298,750

777,230

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

151,750

167,064

Members' other interests

147,000

610,166

298,750

777,230

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 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 24 December 2025 and were signed by:

H S Atwal - Designated member

1.	STATUTORY INFORMATION

H & N Developments LLP is registered in Scotland. The LLP's registered number and registered office address can be found on the General Information page.

The functional currency of the LLP is Pounds Sterling as this is the currency of the primary economic environment in which the LLP operates. Monetary amounts in these financial statements are rounded to the nearest £.

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 represents the rent receivable in the period. Income is recognised in the period to which it relates.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Motor vehicles - 25% on reducing balance

Investment property

Investment property which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss account.

Financial instruments

The LLP only enters into basic financial instrument 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debit instruments that payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short ter loan not a market rate, the financial asset or liability is measured, initially, at present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Finance costs

Finance costs are charged to the income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction on the process of the associated capital instrument.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - 2 ) .

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Bank loan interest

6,666

31,337

H.P. Interest

(669

)

2,888

5,997

34,225

5.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

136,904

DEPRECIATION

At 1 April 2024

113,075

Charge for year

5,958

At 31 March 2025

119,033

NET BOOK VALUE

At 31 March 2025

17,871

At 31 March 2024

23,829

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,222,808

Disposals

(944,974

)

At 31 March 2025

277,834

NET BOOK VALUE

At 31 March 2025

277,834

At 31 March 2024

1,222,808

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

(110

)

Other debtors

-

824

-

714

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 10)

3,391

47,480

Hire purchase contracts

-

11,543

Trade creditors

60

29,986

Taxation and social security

1,697

4,695

Other creditors

10,108

91,136

15,256

184,840

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans (see note 10)

14,127

290,473

Hire purchase contracts

-

3,033

14,127

293,506

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loans - less than 1 yr

3,391

47,480

Amounts falling due between one and two years:

Bank loans - 1-2 years

14,127

290,473

Included within other creditors falling due within one year and creditors falling due after more than one year is £17,518 (2024: £20,908) in respect of a bank loan which is guaranteed by the government under Coronavirus Business Interruption Loan Scheme.

11.	RELATED PARTY DISCLOSURES

Included in other creditors are the amounts due from the companies related to directors due with in 12 months. Hadplaid Ltd £6,991 (2024: £72,528)

Hadplaid Ltd acts as management company for H & N Developments LLP. The management charges amounting to £8,820 (2024: £33,553) recorded in accounts are paid to Hadplaid Ltd