REGISTERED NUMBER: OC423428 (England and Wales)

Report of the Members and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Newgate Partners LLP

Page

General Information

1

Report of the Members

2

Report of the Accountant

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

7

DESIGNATED MEMBERS:

Mr D Rustambekov

Mr B Shahodjaev

REGISTERED OFFICE:

Flat 11 Dorchester Court

Buckingham Road

London

E18 2NG

REGISTERED NUMBER:

OC423428 (England and Wales)

ACCOUNTANT:

Albacore Accounting Limited

The Maylands Building

Maylands Avenue

Hemel Hempstead

Hertfordshire

HP2 7TG

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 active management of investment properties, acquisitions, developments and rental income from properties.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr D Rustambekov

Mr B Shahodjaev

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £8,170 (2024 - £3,256 loss).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mr D Rustambekov - Designated member

30 December 2025

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2025 set out on pages four to nine and you consider that the LLP is exempt from an audit.

In accordance with your instructions, I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to me.

Albacore Accounting Limited

The Maylands Building

Maylands Avenue

Hemel Hempstead

Hertfordshire

HP2 7TG

Date: .............................................

TURNOVER

81,875

96,113

Cost of sales

-

28,846

GROSS PROFIT

81,875

67,267

Administrative expenses

51,085

57,000

OPERATING PROFIT

4

30,790

10,267

Interest payable and similar expenses

5

22,620

13,523

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

8,170

(3,256

)

FIXED ASSETS

Intangible assets

6

109,988

111,267

Tangible assets

7

7,406

9,300

Investment property

8

665,000

665,000

782,394

785,567

CURRENT ASSETS

Debtors

9

294,780

288,859

Cash at bank

858

41

295,638

288,900

CREDITORS

Amounts falling due within one year

10

87,670

89,275

NET CURRENT ASSETS

207,968

199,625

TOTAL ASSETS LESS CURRENT LIABILITIES

990,362

985,192

CREDITORS

Amounts falling due after more than one year

11

397,730

400,730

NET ASSETS ATTRIBUTABLE TO MEMBERS

592,632

584,462

LOANS AND OTHER DEBTS DUE TO MEMBERS

12

312,161

303,991

MEMBERS' OTHER INTERESTS

Capital accounts

50,000

50,000

Non-distributable reserve

230,471

230,471

592,632

584,462

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

12

312,161

303,991

Members' other interests

280,471

280,471

592,632

584,462

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 30 December 2025 and were signed by:

Mr D Rustambekov - Designated member

1.	STATUTORY INFORMATION

Newgate Partners 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Lease premium are being amortised evenly over their estimated useful life of ninety years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

1,894

2,389

Lease premium amortisation

1,279

1,279

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.3.25

31.3.24

£

£

Bank loan interest

22,620

13,203

Other interest payable

-

320

22,620

13,523

6.	INTANGIBLE FIXED ASSETS

Lease

premium

£

COST

At 1 April 2024

and 31 March 2025

115,104

AMORTISATION

At 1 April 2024

3,837

Amortisation for year

1,279

At 31 March 2025

5,116

NET BOOK VALUE

At 31 March 2025

109,988

At 31 March 2024

111,267

7.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

23,306

1,672

24,978

DEPRECIATION

At 1 April 2024

14,268

1,410

15,678

Charge for year

1,808

86

1,894

At 31 March 2025

16,076

1,496

17,572

NET BOOK VALUE

At 31 March 2025

7,230

176

7,406

At 31 March 2024

9,038

262

9,300

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

665,000

NET BOOK VALUE

At 31 March 2025

665,000

At 31 March 2024

665,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

241,203

Valuation in 2021

423,528

Valuation in 2022

269

665,000

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

17,698

11,777

Other debtors

277,082

277,082

294,780

288,859

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

3,000

3,000

Trade creditors

20,540

21,740

VAT

914

2,189

Other creditors

59,500

59,500

Accruals and deferred income

3,716

2,846

87,670

89,275

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - more than 1 yr

397,730

400,730

12.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members (other than members' capital classified as debt) rank after other creditors.

If the LLP is wound up, and a surplus sum remains at the conclusion of the winding up, after payment of all money due to the creditors of the LLP and all expenses of the winding up, the liquidator shall pay that surplus sum to the Members in accordance with the respective proportions to which the Members share capital.