REGISTERED NUMBER: OC332059 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HASTINGS PROPERTY COMPANY LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

P Stavri

L Stavri

REGISTERED OFFICE:

20 Havelock Road

Hastings

East Sussex

TN34 1BP

REGISTERED NUMBER:

OC332059 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

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

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property rental in the south of England.

DESIGNATED MEMBERS

The designated members during the year under review were:

P Stavri

L Stavri

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £185,832 (2024 - £158,388 profit).

MEMBERS' INTERESTS

The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members' capital are disclosed in the accounting policies, note 1 of the financial statements.

The members' interests are disclosed in the notes to the financial statements.

ON BEHALF OF THE MEMBERS:

L Stavri - Designated member

23 December 2025

TURNOVER

472,991

463,635

Cost of sales

(17,282

)

(49,743

)

GROSS PROFIT

455,709

413,892

Administrative expenses

(272,698

)

(262,744

)

OPERATING PROFIT

4

183,011

151,148

Profit/loss on disposal of fixed asset investments

5

110,404

-

293,415

151,148

Interest receivable and similar income

245

339

293,660

151,487

Interest payable and similar expenses

(107,828

)

6,901

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

185,832

158,388

FIXED ASSETS

Tangible assets

6

24,280

18,596

Investment property

7

6,902,440

7,204,550

6,926,720

7,223,146

CURRENT ASSETS

Debtors

8

9,669

10,004

Cash at bank

44,239

70,239

53,908

80,243

CREDITORS

Amounts falling due within one year

9

47,699

274,917

NET CURRENT ASSETS/(LIABILITIES)

6,209

(194,674

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,932,929

7,028,472

CREDITORS

Amounts falling due after more than one year

10

1,531,390

1,549,542

NET ASSETS ATTRIBUTABLE TO MEMBERS

5,401,539

5,478,930

LOANS AND OTHER DEBTS DUE TO MEMBERS

12

5,401,539

5,478,930

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

12

5,401,539

5,478,930

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 23 December 2025 and were signed by:

L Stavri - Designated member

P Stavri - Designated member

1.	STATUTORY INFORMATION

Hastings Property Company 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 as modified by the revaluation of certain assets.

The members have made an assessment about the ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover

Turnover represents rent receivable excluding value added tax.

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.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

Capital subscription and repayment

The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. No interest is paid on capital.

Profit allocation

The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members.

During the year members draw sums as agreed by the Designated Members, taking into account the partnership's cash requirements for operating and investing activities.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2024 - 3 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

£

Depreciation - owned assets

6,071

4,648

5.	EXCEPTIONAL ITEMS

31.3.25

31.3.24

£

£

Profit/loss on disposal of fixed asset investments

110,404

-

6.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

36,319

Additions

11,755

At 31 March 2025

48,074

DEPRECIATION

At 1 April 2024

17,723

Charge for year

6,071

At 31 March 2025

23,794

NET BOOK VALUE

At 31 March 2025

24,280

At 31 March 2024

18,596

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

7,204,550

Additions

47,486

Disposals

(349,596

)

At 31 March 2025

6,902,440

NET BOOK VALUE

At 31 March 2025

6,902,440

At 31 March 2024

7,204,550

Fair value at 31 March 2025 is represented by:

£

Valuation in 2009

157,618

Valuation in 2010

271,306

Valuation in 2012

147,772

Valuation in 2017

1,536,087

Valuation in 2022

496,619

Cost

4,293,038

6,902,440

If Investment Property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

4,595,149

4,595,149

Investment property was valued on an open market basis on 31 March 2025 by the designated members .

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

4,768

4,114

Prepayments

4,901

5,890

9,669

10,004

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

30,056

218,943

Trade creditors

1,879

37,976

Social security and other taxes

2,124

2,897

Other creditors

10,625

11,034

Accrued expenses

3,015

4,067

47,699

274,917

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

30,020

30,856

Bank loans - 2-5 years

180,488

204,782

Bank loans more 5 yr by instal

50,604

47,404

Bank loans more 5 yrs non-inst

1,270,278

1,266,500

1,531,390

1,549,542

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,270,278

1,266,500

Repayable by instalments

Bank loans more 5 yr by instal

50,604

47,404

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

1,561,446

1,768,485

Loans are mortgages secured on individual properties held in Investment Property.

12.

LOANS AND OTHER DEBTS DUE TO MEMBERS

The amounts shown in 'Loans and other debts due to member's' would rank after other unsecured creditors in the event of a winding up.

13.	RELATED PARTY DISCLOSURES

There are no terms attached to the member loan accounts for the year.