Raglan Property LLP - LLP accounts 24.3

REGISTERED NUMBER: OC403781 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

RAGLAN PROPERTY LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Other Comprehensive Income

4

Balance Sheet

5

Reconciliation of Members' Interests

7

Notes to the Financial Statements

9

DESIGNATED MEMBERS:

Mrs N King

Mr D B King

Mr A J King

Naomi King Discretionary Trust 2015

REGISTERED OFFICE:

Unit 4

Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

REGISTERED NUMBER:

OC403781 (England and Wales)

ACCOUNTANTS:

Kings Chartered Accountants

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

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 letting of owned residential property.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mrs N King

Mr D B King

Mr A J King

Naomi King Discretionary Trust 2015

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £9,103 (2024 - £8,027 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mrs N King - Designated member

23 December 2025

TURNOVER

59,548

58,650

Administrative expenses

27,234

18,755

OPERATING PROFIT

4

32,314

39,895

Interest receivable and similar income

147

219

32,461

40,114

Interest payable and similar expenses

41,564

32,087

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

(9,103

)

8,027

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR BEFORE MEMBERS'
REMUNERATION AND PROFIT
SHARES AVAILABLE FOR
DISCRETIONARY DIVISION AMONG
MEMBERS

(9,103

)

8,027

OTHER COMPREHENSIVE INCOME

-

TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(9,103

)

8,027

FIXED ASSETS

Tangible assets

5

250

516

Investment property

6

1,427,000

1,418,000

1,427,250

1,418,516

CURRENT ASSETS

Debtors

7

2,563

2,845

Cash at bank

4,554

15,417

7,117

18,262

CREDITORS

Amounts falling due within one year

8

1,140

NET CURRENT ASSETS

5,977

17,122

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,433,227

1,435,638

CREDITORS

Amounts falling due after more than one
year

9

682,340

NET ASSETS ATTRIBUTABLE TO
MEMBERS

750,887

753,298

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

24,424

35,835

MEMBERS' OTHER INTERESTS

Capital accounts

585,660

Fair value reserve

11

140,803

131,803

750,887

753,298

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

24,424

35,835

Members' other interests

726,463

717,463

Amounts due from members

7

(2,433

)

(2,845

)

748,454

750,453

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:

Mrs N King - Designated member

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

Balance at 1 April 2024

585,660

131,803

717,463

Loss for the financial year available for
discretionary division among members

-

(9,103

)

(9,103

)

Members' interests after loss for the year

585,660

122,700

708,360

Other divisions of loss

-

9,103

Revaluation of fixed assets

-

9,000

Introduced by members

-

Drawings on account and distributions of profit

-

Balance at 31 March 2025

585,660

140,803

726,463

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

Amount due to members

35,835

Amount due from members

(2,845

)

Balance at 1 April 2024

32,990

750,453

Loss for the financial year available for
discretionary division among members

-

(9,103

)

Members' interests after loss for the year

32,990

741,350

Other divisions of loss

(9,103

)

-

Revaluation of fixed assets

-

9,000

Introduced by members

2,000

Drawings on account and distributions of profit

(3,896

)

(3,896

)

Amount due to members

24,424

Amount due from members

(2,433

)

Balance at 31 March 2025

21,991

748,454

EQUITY

Members' other interests

Members'

capital

(classified

as

Other

equity)

reserves

Total

£

Balance at 1 April 2023

585,660

121,803

707,463

Profit for the financial year available for
discretionary division among members

-

8,027

Members' interests after profit for the year

585,660

129,830

715,490

Other divisions of profit

-

(8,027

)

(8,027

)

Revaluation of fixed assets

-

10,000

Drawings on account and distributions of profit

-

Balance at 31 March 2024

585,660

131,803

717,463

DEBT

TOTAL

Loans and other debts due to

MEMBERS'

members less any amounts due

INTERESTS

from members in debtors

Other

amounts

Total

£

Amount due to members

31,990

Amount due from members

-

Balance at 1 April 2023

31,990

739,453

Profit for the financial year available for
discretionary division among members

-

8,027

Members' interests after profit for the year

31,990

747,480

Other divisions of profit

8,027

-

Revaluation of fixed assets

-

10,000

Drawings on account and distributions of profit

(7,027

)

(7,027

)

Amount due to members

35,835

Amount due from members

(2,845

)

Balance at 31 March 2024

32,990

750,453

1.	STATUTORY INFORMATION

Raglan Property 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from rents received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

Straight line over 3 years

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 3 (2024 - 3 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

Depreciation - owned assets

266

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

799

DEPRECIATION

At 1 April 2024

283

Charge for year

266

At 31 March 2025

549

NET BOOK VALUE

At 31 March 2025

250

At 31 March 2024

516

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,418,000

Revaluations

9,000

At 31 March 2025

1,427,000

NET BOOK VALUE

At 31 March 2025

1,427,000

At 31 March 2024

1,418,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2023

121,803

Valuation in 2024

10,000

Valuation in 2025

9,000

Cost

1,286,197

1,427,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Amounts due from members

2,433

2,845

Prepayments

130

-

2,563

2,845

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Accruals

1,140

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans more 5 yrs non-inst

682,340

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

682,340

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

11.

RESERVES

Fair

value

reserve

£

At 1 April 2024

131,803

Revaluation of fixed assets

9,000

At 31 March 2025

140,803