REGISTERED NUMBER: OC377766 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Padfield Estates LLP

Page

General Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

I G Padfield

Hayleys Property Limited

REGISTERED OFFICE:

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

REGISTERED NUMBER:

OC377766 (England and Wales)

ACCOUNTANTS:

Hardcastle Burton LLP

Lake House

Market Hill

Royston

Hertfordshire

SG8 9JN

FIXED ASSETS

Investment property

4

3,800,000

3,800,000

CURRENT ASSETS

Debtors

13,287

6,367

Cash at bank

2,106

43,173

15,393

49,540

CREDITORS

Amounts falling due within one year

8,385

18,564

NET CURRENT ASSETS

7,008

30,976

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

3,807,008

3,830,976

LOANS AND OTHER DEBTS DUE TO MEMBERS

5

7,008

30,976

MEMBERS' OTHER INTERESTS

Capital accounts

3,800,000

3,800,000

3,807,008

3,830,976

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

5

7,008

30,976

Members' other interests

3,800,000

3,800,000

Amounts due from members

(8,591

)

-

3,798,417

3,830,976

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 and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 23 December 2025 and were signed by:

Hayleys Property Limited - Designated member

1.	STATUTORY INFORMATION

Padfield Estates 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 represents net invoiced rental income, excluding value added tax.

Investment property

Investment property is detailed in note 4 below. Any aggregate surplus or deficit arising from changes in fair value is recognised through the income statement.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

3,800,000

NET BOOK VALUE

At 31 March 2025

3,800,000

At 31 March 2024

3,800,000

Investment property was valued in February 2023 by an independent firm of estate agents, where property was valued at £3,800,000 on an open market basis. At the year end, the members are in agreement that the market value of the investment property has not changed since this date.

The requirement by section 16 of FRS 102 is to show investment property at fair value and rather than cost less depreciation in order to reflect a true and fair view of the asset. Any adjustments to the fair value of the asset will be shown through the income statement.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

662,517

Cost

3,137,483

3,800,000

5.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts to members would rank second to other creditors in the event of the business winding down.