REGISTERED NUMBER: OC384050 (England and Wales)

REPORT OF THE MEMBERS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ALBERT ROAD LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

K L Tizzard

A N Ellis

J E Tizzard

REGISTERED OFFICE:

Old Library House

4 Dean Park Crescent

Bournemouth

Dorset

BH1 1LY

REGISTERED NUMBER:

OC384050 (England and Wales)

ACCOUNTANTS:

Carter & Coley

Chartered Accountants

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

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 development and letting.

DESIGNATED MEMBERS

The designated members during the year under review were:

K L Tizzard

A N Ellis

J E Tizzard

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £20,938 (2024 - £63,736 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A N Ellis - Designated member

29 December 2025

TURNOVER

31,103

65,979

Administrative expenses

6,933

11,083

24,170

54,896

Other operating income

-

11,000

OPERATING PROFIT

24,170

65,896

Interest payable and similar expenses

3,232

2,160

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

20,938

63,736

FIXED ASSETS

Tangible assets

4

32,512

36,656

Investment property

5

800,000

800,000

832,512

836,656

CURRENT ASSETS

Debtors

6

148,613

140,656

Cash at bank

4,264

7,253

152,877

147,909

CREDITORS

Amounts falling due within one year

7

45,670

22,642

NET CURRENT ASSETS

107,207

125,267

TOTAL ASSETS LESS CURRENT LIABILITIES

939,719

961,923

CREDITORS

Amounts falling due after more than one year

8

1,764

32,987

NET ASSETS ATTRIBUTABLE TO MEMBERS

937,955

928,936

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

383,734

374,715

MEMBERS' OTHER INTERESTS

Capital accounts

100

100

Other reserves

554,121

554,121

937,955

928,936

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

383,734

374,715

Members' other interests

554,221

554,221

Amounts due from members

6

(136,882

)

(125,801

)

801,073

803,135

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 29 December 2025 and were signed by:

A N Ellis - Designated member

1.	STATUTORY INFORMATION

Albert Road 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 represents rental income, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

in accordance with the term of the lease

Fixed assets are initially recognised at cost.

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.

In accordance with the provisions of FRS102 freehold investment buildings are not depreciated.

This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The members are of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

40,800

DEPRECIATION

At 1 April 2024

4,144

Charge for year

4,144

At 31 March 2025

8,288

NET BOOK VALUE

At 31 March 2025

32,512

At 31 March 2024

36,656

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

40,800

DEPRECIATION

At 1 April 2024

4,144

Charge for year

4,144

At 31 March 2025

8,288

NET BOOK VALUE

At 31 March 2025

32,512

At 31 March 2024

36,656

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

800,000

NET BOOK VALUE

At 31 March 2025

800,000

At 31 March 2024

800,000

On a historical cost basis the property would have been included at an original cost of £245,879. An appraisal of the investment property has been made by members on a fair value basis as at 31 March 2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

11,731

14,855

Other debtors

136,882

125,801

148,613

140,656

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,159

4,056

Hire purchase contracts

27,064

5,288

Trade creditors

12,736

10,072

Taxation and social security

551

2,096

Other creditors

1,160

1,130

45,670

22,642

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,764

5,923

Hire purchase contracts

-

27,064

1,764

32,987

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.