Live Work Space (2011) LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC368110 (England and Wales)

Financial Statements

for the Year Ended 31 March 2025

for

LIVE WORK SPACE (2011) LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Ambrian Investments Limited

Live Work Space Limited

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

OC368110 (England and Wales)

ACCOUNTANTS:

JLA Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Investment property

4

12,260,000

5,311,095

CURRENT ASSETS

Cash at bank

111,704

34,565

CREDITORS

Amounts falling due within one year

5

491,286

170,857

NET CURRENT LIABILITIES

(379,582

)

(136,292

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,880,418

5,174,803

CREDITORS

Amounts falling due after more than one year

6

3,490,805

3,850,091

NET ASSETS ATTRIBUTABLE TO MEMBERS

8,389,613

1,324,712

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

1,440,708

1,324,712

MEMBERS' OTHER INTERESTS

Non-distributable reserves

6,948,905

-

8,389,613

1,324,712

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

8

1,440,708

1,324,712

Members' other interests

6,948,905

-

8,389,613

1,324,712

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.

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 19 December 2025 and were signed by:

Ambrian Investments Limited - Designated member

1.	STATUTORY INFORMATION

Live Work Space (2011) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 income received from the rental of property. Rent is recognised in the accounts evenly over the rental agreement.

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.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

5,311,095

Revaluations

6,948,905

At 31 March 2025

12,260,000

NET BOOK VALUE

At 31 March 2025

12,260,000

At 31 March 2024

5,311,095

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

6,948,905

Cost

5,311,095

12,260,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Other creditors

474,907

153,820

Accruals and deferred income

13,379

14,037

Accrued expenses

3,000

491,286

170,857

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans (see note 7)

3,490,805

3,850,091

7.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

3,490,805

3,850,091

8.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank in pari pasu in relation to other creditors.