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(1) General Information
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| The Sangster Properties LLP is a limited liability partnership and is registered in England and Wales. Its legal form is that of a limited liability partnership. The address of the registered office is 55 Rowley Fields Avenue, Leicester, Leicestershire, United Kingdom, LE3 2ES. |
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(2) Statement of compliance
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| These individual financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A and Companies Act 2006, as applicable to LLPs subject to the small entities regime. |
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(3) Significant Accounting Policies
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Basis of preparation
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The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006.
The presentation and functional currency of the partnership is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Revenue recognition
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Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
The partnership recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Sale of goods
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| Sales of goods are recognised when the partnership has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them. |
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Rendering of services
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Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the partnership only recognises revenue to the extent of the recoverable expenses recognised. |
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Borrowing costs
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| All borrowing related costs are included within the statement of income in the period in which they are incurred using the effective interest method. |
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(4) Employees
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| During the year, the average number of employees including member was 0 (2024 : 0). |
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(5) Investment property
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| Investment Properties | | £ | | Cost | | | Additions | 763,000 | | As at 31 March 2025 | 763,000 | | Depreciation | | | As at 31 March 2025 | - | | Net book value | | | As at 31 March 2025 | 763,000 | | As at 31 March 2024 | - |
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(6) Debtors
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Amounts falling due within one year
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| | | 2025 | | 2024 | | £ | | £ | | | | | | | Other debtors | 1,000 | | 1,000 | | | | | | 1,000 | | 1,000 |
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(7) Creditors: Amounts falling due within one year
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| | | 2025 | | 2024 | | £ | | £ | | | | | | | | | | | | | | | | | | | | | | | Accruals and deferred income | 1,173 | | - | | 1,173 | | - |
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(8) Creditors: Amounts falling due after more than one year
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| | | 2025 | | 2024 | | £ | | £ | | | Bank loans and overdrafts | 387,560 | | - | | | | | | | | | | | | | | 387,560 | | - |
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(9) Member's interest
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| Member's capital £ | Other reserves £ | Total £ | Loans and other debts to members £ | Total £ | | | | | | | | | | | | | | At 01 April 2024 | | | | | | | Amounts due to members | 1,000 | - | 1,000 | - | 1,000 | | Member's interest: Balance at 01 April 2024 | 1,000 | - | 1,000 | - | 1,000 | | | | | | | | Profit for the financial year available for division among members | - | (630) | (630) | - | (630) | | | | | | | | Member's interests after profit for the year | 1,000 | (630) | 370 | - | 370 | | | | | | | | Allocated profits | - | - | - | - | - | | Capital introduced by members | 375,397 | - | 375,397 | - | 375,397 | | Members advances | - | - | - | 28,010 | 28,010 | | Drawings | - | - | - | (22,731) | (22,731) | | | | | | | | Amounts due to members | - | - | - | 5,280 | 5,280 | | | | | | | Member's interests at 31 March 2025 | 376,397 | (630) | 375,767 | 5,280 | 381,047 |
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