Greycoat Real Estate LLP

	Page
LLP Information	1
Members' Report	2
Profit and Loss Account	3
Balance Sheet	4—5
Reconciliation of Members' Interests	6—7
Notes to the Financial Statements	7—9

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Registered No. OC341107

Members' Report For The Year Ended 31 March 2025

Members' Report

The members present their report and the financial statements for the year ended 31 March 2025.

Principal Activity

The LLP's principal activity is to provide property asset management and related services.

Members

The designated members who held office during the year were as follows:

E MacPherson

N Millican

Statement of Members' Responsibilities

The members are responsible for preparing the financial statements in accordance with applicable law and regulations.Company law as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law as applied to Limited Liability Partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss for that period. In preparing the financial statements the members are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business.

The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as modified by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The members are responsible for the maintenance and integrity of the corporate and financial information included on the LLP's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Signed on behalf of the members by

E MacPherson

Designated Member

31/12/2025

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Greycoat Real Estate LLP

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		3,797,664	5,412,837
Cost of sales		(638,068 )	(571,785 )

GROSS PROFIT		3,159,596	4,841,052

Administrative expenses		(3,141,493 )	(2,956,891 )

OPERATING PROFIT		18,103	1,884,161
Income from Shares in group undertakings		-	550,690
Other interest receivable and similar income		18,899	614
Interest payable and similar charges		(178,348 )	(89,239 )

(LOSS)/PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS		(141,346 )	2,346,226

The notes on pages 7 to 9 form part of these financial statements.

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Greycoat Real Estate LLP

Balance Sheet

As At 31 March 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Right of use asset	4		3,808,441		4,260,870
Tangible Assets	5		26,259		22,565
Investments	6		94,349		68,923

			3,929,049		4,352,358
CURRENT ASSETS
Debtors	7	1,649,484		885,503
Cash at bank and in hand		341,609		1,132,295

		1,991,093		2,017,798
Creditors: Amounts Falling Due Within One Year	8	(921,287 )		(1,333,453 )

NET CURRENT ASSETS (LIABILITIES)			1,069,806		684,345

TOTAL ASSETS LESS CURRENT LIABILITIES			4,998,855		5,036,703

Creditors: Amounts Falling Due After More Than One Year	9		(8,381,338 )		(6,852,119 )

NET LIABILITIES ATTRIBUTABLE TO MEMBERS			(3,382,483 )		(1,815,416 )

REPRESENTED BY:
Equity
Members' other interests
Members' capital		(4,341,282)		(2,915,561)
Other reserves		958,799		1,100,145

			(3,382,483)		(1,815,416)

TOTAL MEMBERS' INTEREST
Members' other interests			(3,382,483)		(1,815,416)

			(3,382,483)		(1,815,416)

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Greycoat Real Estate LLP

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

On behalf of the members

E MacPherson

Designated Member

31/12/2025

The notes on pages 7 to 9 form part of these financial statements.

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Greycoat Real Estate LLP

Reconciliation of Members' Interests

For The Year Ended 31 March 2025

Reconciliation of Members' Interests

	EQUITY
	Members' other interests
	Members'Capital classified as Equity	Other Reserves	Total Equity	Total members' interest
	£	£	£	£
Balance at 1 April 2023	-	(1,246,081 )	(1,246,081)	(1,246,081)
Profit/(loss) for the financial year available for discretionary division among members	-	2,346,226	2,346,226	2,346,226

Members' interests after profit/(loss) for the year	-	1,100,145	1,100,145	1,100,145
Drawings	(2,110,277)	-	(2,110,277)	(2,110,277)
Other Movements	(805,284)	-	(805,284)	(805,284)

As at 31 March 2024 and 1 April 2024	(2,915,561)	1,100,145	(1,815,416)	(1,815,416)


Profit/(loss) for the financial year available for discretionary division among members	-	(141,346 )	(141,346 )	(141,346 )

Members' interests after profit/(loss) for the year	(2,915,561)	958,799	(1,956,762)	(1,956,762)
Drawings	(1,396,243)	-	(1,396,243)	(1,396,243)
Other Movements	(29,478)	-	(29,478)	(29,478)

As at 31 March 2025	(4,341,282)	958,799	(3,382,483)	(3,382,483)

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Greycoat Real Estate LLP

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Greycoat Real Estate LLP is a limited liability partnership, incorporated in England & Wales, registered number OC341107 . The Registered Office is 15 Suffolk Street, London, SW1Y 4HG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.[TO ADD!!!!!!!!!!!

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	N/A
Leasehold	In line with IFRS 16 - Lease accounting
Plant & Machinery	N/A
Motor Vehicles	N/A
Fixtures & Fittings	N/A
Computer Equipment	25%

3. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: 13 (2024: 14)

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Greycoat Real Estate LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Right of use asset

	Other
	£
Cost
As at 1 April 2024	4,260,870

As at 31 March 2025	4,260,870

Amortisation
As at 1 April 2024	-
Provided during the period	452,429

As at 31 March 2025	452,429

Net Book Value
As at 31 March 2025	3,808,441

As at 1 April 2024	4,260,870

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 April 2024	73,031
Additions	10,976
Disposals	(43,188 )

As at 31 March 2025	40,819

Depreciation
As at 1 April 2024	50,466
Provided during the period	7,282
Disposals	(43,188 )

As at 31 March 2025	14,560

Net Book Value
As at 31 March 2025	26,259

As at 1 April 2024	22,565

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 April 2024	68,923
Additions	25,426

As at 31 March 2025	94,349

Provision
As at 1 April 2024	-

As at 31 March 2025	-

...CONTINUED

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Greycoat Real Estate LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	94,349

As at 1 April 2024	68,923

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	906,107	280,897
Amounts recoverable on contracts	87,280	279,980
Other debtors	656,097	324,626

	1,649,484	885,503

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	196,867	365,800
Other creditors	474,075	477,515
Taxation and social security	250,345	490,138

	921,287	1,333,453

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Amounts owed to group undertakings	4,472,457	2,500,000
Other creditors	3,908,881	4,352,119

	8,381,338	6,852,119

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Designated Members	E MacPherson
	N Millican

LLP Registration Number	OC341107

Registered Office	15 Suffolk Street
	London
	SW1Y 4HG