REGISTERED NUMBER: OC317790 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

ONE WEST SMITHFIELD LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

J C Morgan

C C Okin

Ombeter Properties Limited

REGISTERED OFFICE:

55 Loudoun Road,

St. John's Wood

London

NW8 0DL

REGISTERED NUMBER:

OC317790 (England and Wales)

ACCOUNTANTS:

MGR Weston Kay LLP

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Investment property

4

330,000

330,000

CURRENT ASSETS

Debtors

5

6,316

16,221

Cash at bank

14,309

8,382

20,625

24,603

CREDITORS

Amounts falling due within one year

6

(2,771

)

(5,102

)

NET CURRENT ASSETS

17,854

19,501

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

347,854

349,501

LOANS AND OTHER DEBTS DUE TO MEMBERS

7

123,470

123,414

MEMBERS' OTHER INTERESTS

Revaluation reserve

224,384

224,384

Other reserves

-

1,703

347,854

349,501

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

123,470

123,414

Members' other interests

224,384

226,087

347,854

349,501

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 Profit And Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 9 January 2026 and were signed by:

Ombeter Properties Limited - Designated member

1.	STATUTORY INFORMATION

One West Smithfield 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

Accounting convention

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 represents rent receivable net of VAT.

Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Service charges

Service charge income collected from tenants is held in trust for the tenants for the payment of service charge expenses. Accordingly these transactions have been excluded from the accounts.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

330,000

NET BOOK VALUE

At 31 March 2025

330,000

At 31 March 2024

330,000

The designated members assessed the open market value of the investment property at 31 March 2025 as being £330,000.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

6,316

16,221

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

991

-

Taxation and social security

441

-

Other creditors

1,339

5,102

2,771

5,102

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.