| MFW Properties LLP |
| Registered number: |
OC446412 |
| Balance Sheet |
| as at 31 March 2025 |
| Notes |
|
2025 |
|
2024 |
| £ |
£ |
| Fixed assets |
| Investment property |
3 |
|
3,750,000 |
|
850,000 |
| Current assets |
|
|
|
|
|
| Debtors |
4 |
|
28,095 |
|
5,582 |
| Cash at bank and in hand |
|
|
56,898 |
|
24,945 |
|
|
|
84,993 |
|
30,527 |
|
| Creditors: amounts falling due within one year |
5 |
|
(33,563) |
|
(3,896) |
|
| Net current assets |
|
|
51,430 |
|
26,631 |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
3,801,430 |
|
876,631 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
(1,553,554) |
|
(4,416) |
|
|
| Net assets attributable to members |
2,247,876 |
|
872,215 |
|
|
|
|
|
|
| Represented by: |
| Loans and other debts due to members |
8 |
|
48,876 |
|
12,956 |
|
|
|
|
|
|
| Members' other interests |
| Members' capital classified as equity |
|
|
2,199,000 |
|
859,259 |
|
|
|
|
|
|
|
|
|
2,247,876 |
|
872,215 |
|
|
|
|
|
|
| Total members' interests |
| Loans and other debts due to members |
8 |
|
48,876 |
|
12,956 |
| Members' other interests |
|
|
2,199,000 |
|
859,259 |
|
|
|
|
2,247,876 |
|
872,215 |
|
|
|
|
|
|
| For the year ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| These accounts were approved by the members on 1 December 2025 and signed on their behalf by: |
|
|
| MDN Waters |
| Designated member |
|
| MFW Properties LLP |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
|
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.
In accordance with the provisions of FRS 102 freehold investment buildings are not depreciated.
This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The members are of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the LLP |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investment property |
|
|
|
|
|
|
|
|
Investment property |
| £ |
|
Fair value |
|
At 1 April 2024 |
850,000 |
|
Additions |
2,900,000 |
|
At 31 March 2025 |
3,750,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
3,750,000 |
|
At 31 March 2024 |
850,000 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
28,095 |
|
5,582 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Other creditors |
33,563 |
|
3,896 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
1,546,738 |
|
- |
|
Other creditors |
6,816 |
|
4,416 |
|
|
|
|
|
|
1,553,554 |
|
4,416 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
1,546,738 |
|
- |
|
|
|
|
|
|
|
|
|
|
The partnership's bank loans are secured by fixed charges over the specific investment properties to which the borrowings relate. |
|
|
| 8 |
Loans and other debts due to members |
2025 |
|
2024 |
| £ |
£ |
|
|
Loans from members |
- |
|
(14,054) |
|
Amounts due to members in respect of profits |
48,876 |
|
27,010 |
|
|
|
|
|
|
48,876 |
|
12,956 |
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year |
48,876 |
|
12,956 |
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
|
|
| 9 |
Other information |
|
|
MFW Properties LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
30 Kensington Park Gardens |
|
London |
|
W11 2QS |