REGISTERED NUMBER: OC444886 (England and Wales)

Report of the Members and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Quire Apartments LLP

Page

General Information

1

Report of the Members

2

Statement of Comprehensive Income

3

Statement of Financial Position

4

Reconciliation of Members' Interests

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

A J Creeper

Mrs S M Creeper

REGISTERED OFFICE:

Bacon House

The Plain

Hawkesbury Upton

Badminton

Avon

GL9 1AT

REGISTERED NUMBER:

OC444886 (England and Wales)

ACCOUNTANTS:

Monahans

Oakley House

Tetbury Road

Cirencester

Glos

GL7 1US

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

PRINCIPAL ACTIVITIES

The principal activities of the LLP in the year under review were those of letting of own property.

DESIGNATED MEMBERS

The designated members during the year under review were:

A J Creeper

Mrs S M Creeper

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £11,260 (2024 - £31,610 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mrs S M Creeper - Designated member

22 December 2025

TURNOVER

90,213

124,410

Cost of sales

1,911

14,604

GROSS PROFIT

88,302

109,806

Administrative expenses

57,318

71,411

OPERATING PROFIT

5

30,984

38,395

Interest receivable and similar income

33

2,290

31,017

40,685

Interest payable and similar expenses

42,277

9,075

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

(11,260

)

31,610

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(11,260

)

31,610

FIXED ASSETS

Tangible assets

6

1,480,482

1,487,464

CURRENT ASSETS

Cash at bank

969

1,826

CREDITORS

Amounts falling due within one year

7

18,106

6,601

NET CURRENT LIABILITIES

(17,137

)

(4,775

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,463,345

1,482,689

CREDITORS

Amounts falling due after more than one year

8

990,126

1,169,767

NET ASSETS ATTRIBUTABLE TO MEMBERS

473,219

312,922

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

473,219

312,922

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

473,219

312,922

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 22 December 2025 and were signed by:

A J Creeper - Designated member

Mrs S M Creeper - Designated member

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

Other

reserves

amounts

Total

£

£

£

Amount due to members

312,922

Amount due from members

-

Balance at 1 April 2024

-

312,922

312,922

Loss for the financial year available for discretionary division among members

(11,260

)

-

(11,260

)

Members' interests after loss for the year

(11,260

)

312,922

301,662

Other divisions of loss

11,260

(11,260

)

-

Introduced by members

-

228,889

228,889

Drawings on account and distributions of profit

-

(57,332

)

(57,332

)

Amount due to members

473,219

Amount due from members

-

Balance at 31 March 2025

-

473,219

473,219

EQUITY

DEBT

TOTAL

Members'

Loans and other debts due to

MEMBERS'

other

members less any amounts due

INTERESTS

interests

from members in debtors

Other

Other

reserves

amounts

Total

£

£

£

Amount due to members

499,344

Amount due from members

-

Balance at 1 April 2023

-

499,344

499,344

Profit for the financial year available for discretionary division among members

31,610

-

31,610

Members' interests after profit for the year

31,610

499,344

530,954

Other divisions of profit

(31,610

)

31,610

-

Drawings on account and distributions of profit

-

(218,032

)

(218,032

)

Amount due to members

312,922

Amount due from members

-

Balance at 31 March 2024

-

312,922

312,922

1.	STATUTORY INFORMATION

Quire Apartments 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

20% on reducing balance and 15% on reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the LLP are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEE INFORMATION

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

5.	OPERATING PROFIT

The operating profit is stated after charging:

2025

2024

£

£

Depreciation - owned assets

9,206

5,370

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

1,426,809

69,471

1,496,280

Additions

11,634

190

11,824

Disposals

-

(12,000

)

(12,000

)

At 31 March 2025

1,438,443

57,661

1,496,104

DEPRECIATION

At 1 April 2024

-

8,816

8,816

Charge for year

-

9,206

9,206

Eliminated on disposal

-

(2,400

)

(2,400

)

At 31 March 2025

-

15,622

15,622

NET BOOK VALUE

At 31 March 2025

1,438,443

42,039

1,480,482

At 31 March 2024

1,426,809

60,655

1,487,464

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

16,821

5,402

Trade creditors

1,285

1,199

18,106

6,601

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

990,126

1,152,946

Hire purchase contracts

-

16,821

990,126

1,169,767

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

450,615

-

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