Champion Properties LLP - LLP accounts 24.3

REGISTERED NUMBER: OC324987 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Champion Properties LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

A G Fernback

P Fernback

REGISTERED OFFICE:

The Beechwood Centre

40 Lower Gravel Road

Bromley

Kent

BR2 8GP

REGISTERED NUMBER:

OC324987 (England and Wales)

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 owning, management and trading of commercial properties.

DESIGNATED MEMBERS

The designated members during the year under review were:

A G Fernback

P Fernback

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £205,043 (2024 - £170,962 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

A G Fernback - Designated member

24 October 2025

TURNOVER

1,474,063

1,393,646

Cost of sales

706,054

583,478

GROSS PROFIT

768,009

810,168

Administrative expenses

293,641

325,249

OPERATING PROFIT

4

474,368

484,919

Interest payable and similar expenses

269,325

313,957

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

205,043

170,962

FIXED ASSETS

Tangible assets

5

12,454,023

12,520,622

CURRENT ASSETS

Debtors

6

1,703,236

1,500,574

Cash at bank

1,927,373

1,924,998

3,630,609

3,425,572

CREDITORS

Amounts falling due within one year

7

1,818,506

1,816,031

NET CURRENT ASSETS

1,812,103

1,609,541

TOTAL ASSETS LESS CURRENT
LIABILITIES

14,266,126

14,130,163

CREDITORS

Amounts falling due after more than one
year

8

(3,782,618

)

(3,782,618

)

PROVISIONS FOR LIABILITIES

(3,459

)

(72,539

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

10,480,049

10,275,006

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

2,291,619

2,086,576

MEMBERS' OTHER INTERESTS

Capital accounts

2,960,315

Revaluation reserve

10

5,228,115

10,480,049

10,275,006

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

2,291,619

2,086,576

Members' other interests

8,188,430

10,480,049

10,275,006

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 24 October 2025 and were signed by:

A G Fernback - Designated member

1.	STATUTORY INFORMATION

Champion Properties 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, 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.

3.	EMPLOYEE INFORMATION

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

31.3.25

31.3.24

£

Depreciation - owned assets

66,599

79,721

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 April 2024

and 31 March 2025

12,000,000

1,225,907

13,225,907

DEPRECIATION

At 1 April 2024

-

705,285

Charge for year

-

66,599

At 31 March 2025

-

771,884

NET BOOK VALUE

At 31 March 2025

12,000,000

454,023

12,454,023

At 31 March 2024

12,000,000

520,622

12,520,622

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2025

12,000,000

1,225,907

13,225,907

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

29,005

120,938

Other debtors

1,674,231

1,379,636

1,703,236

1,500,574

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade creditors

579,663

447,091

Taxation and social security

-

45,837

Other creditors

1,238,843

1,323,103

1,818,506

1,816,031

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.25

31.3.24

£

Bank loans

3,782,618

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

There is no pressure on the loans from the members to the company to be repaid immediately or within the year. The members are happy for all other creditors to be repaid before members capital is settled.

10.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

5,228,115

11.	RELATED PARTY DISCLOSURES

At the year end Champion Properties LLP was owed/(owing) the following amounts from related entities;

Company

2024

2025

Centaur Property Group Ltd

340,467

480,820

Centaur Property Estates Ltd

78,792

Alpenmile Properties Ltd

-

12,879

Centaur Property Investments Ltd

51,500

139,154

Spedho Ltd

(500

)

(500

)

Kingsway Furniture London Ltd

(6,256

)

(6,256

)

Barclay Property Trading LLP

(911,218

)

(794,218

)

Wentworth Trading LLP

(1,000

)

(1,000

)

Knowlwood Trading LLP

-

20,000

Barclay Estates Ltd

102,253

302,253

Barclay Home Investments Ltd

(200

)

(200

)

Barclay Commercial Estates Ltd

119,358

165,558

Blue Marlin Ltd

-

113,705

Big Padlock Ltd

(8,365

)

21,635

Big Padlock Ayr Ltd

(67,083

)

(67,083

)

Big Padlock (UK) Ltd

(86,602

)

(64,374

)

Centaur Financing Ltd

278,813

15,647