SEMS FAIRLIGHT LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC416819 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

FOR

SEMS FAIRLIGHT LLP

Page

General Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs E I S Maclean

Mr S R Maclean

REGISTERED OFFICE:

Tuscans

3 Whadden Chase

Ingatestone

Essex

CM4 9HF

REGISTERED NUMBER:

OC416819 (England and Wales)

FIXED ASSETS

Investment property

4

1,100,000

CURRENT ASSETS

Cash at bank

2,275

2,879

CREDITORS

Amounts falling due within one year

5

1,240

1,200

NET CURRENT ASSETS

1,035

1,679

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,101,035

1,101,679

CREDITORS

Amounts falling due after more than one year

6

538,064

NET ASSETS ATTRIBUTABLE TO MEMBERS

562,971

563,615

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

366,971

367,615

MEMBERS' OTHER INTERESTS

Revaluation reserve

8

196,000

562,971

563,615

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

366,971

367,615

Members' other interests

196,000

562,971

563,615

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 5 April 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.

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:

Mrs E I S Maclean - Designated member

Mr S R Maclean - Designated member

1.	STATUTORY INFORMATION

SEMS FAIRLIGHT 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.

The financial statements have been prepared on a going concern basis as the members are satisfied that the LLP will have adequate resources to meet its liabilities to third parties as they fall due.

TURNOVER

Turnover represents rent receivable net of value added tax.

INVESTMENT PROPERTY

Investment properties are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement.

Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold. No

depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The members consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2024

and 5 April 2025

1,100,000

NET BOOK VALUE

At 5 April 2025

1,100,000

At 5 April 2024

1,100,000

Fair value at 5 April 2025 is represented by:

£

Valuation in 2025

196,000

Cost

904,000

1,100,000

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

904,000

Investment properties were valued on a fair value basis on 5 April 2025 by the members .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other creditors

1,240

1,200

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other creditors

538,064

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with other creditors on a winding-up.

8.

RESERVES

Revaluation

reserve

£

At 6 April 2024

and 5 April 2025

196,000