Truscon Property Services LLP LLP accounts

REGISTERED NUMBER: OC370749

Truscon Property Services LLP

Unaudited Financial Statements

31 March 2025

Truscon Property Services LLP

Financial Statements

Year ended 31 March 2025

Contents	Page

Members' report	1

Chartered accountant's report to the members on the preparation of the unaudited statutory financial statements	3

Statement of comprehensive income	4

Statement of financial position	5

Reconciliation of members' interests	7

Notes to the financial statements	9

The following pages do not form part of the financial statements

Members detailed schedules	14

Truscon Property Services LLP

Members' Report

Year ended 31 March 2025

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

Principal activities

The principal activity of the company during the year was property rental and building improvements.

Designated members

The designated members who served the LLP during the year were as follows:

C & S Transport Holdings Limited
Mr R Telling	(Appointed 1 December 2024)
Mr A Andrew	(Appointed 1 December 2024)
Mr C Haines	(Resigned 30 November 2024)

Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members

Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.

New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.

This report was approved by the members on 25 October 2025 and signed on behalf of the members by:

Mr R Telling	Mr A Andrew
Designated Member	Designated Member

Registered office:

Little Owl Farm

Halebourne Lane

CHOBHAM

Surrey

GU24 8LS

Truscon Property Services LLP

Chartered Accountant's Report to the Members on the Preparation of the Unaudited Statutory Financial Statements of Truscon Property Services LLP

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to limited liability partnerships by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, I have prepared for your approval the financial statements of Truscon Property Services LLP for the year ended 31 March 2025, which comprise the statement of comprehensive income, statement of financial position, reconciliation of members' interests and the related notes from the LLP's accounting records and from information and explanations you have given me. As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the members of Truscon Property Services LLP, as a body, in accordance with the terms of my engagement letter dated 12 April 2016. My work has been undertaken solely to prepare for your approval the financial statements of Truscon Property Services LLP and state those matters that I have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Truscon Property Services LLP and its members, as a body, for my work or for this report.

It is your duty to ensure that Truscon Property Services LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Truscon Property Services LLP. You consider that Truscon Property Services LLP is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of Truscon Property Services LLP. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

SWANGUARD LIMITED Chartered accountants

Chichester PO19 1UU

25 October 2025

Truscon Property Services LLP

Statement of Comprehensive Income

Year ended 31 March 2025

	2025	2024
Note	£	£
Turnover	216,041	258,151

Cost of sales	95,546	133,026
	---------	---------
Gross profit	120,495	125,125

Distribution costs		( 21,587)	–
Administrative expenses		21,907	32,354
		---------	---------
Operating profit	5	120,175	92,771

Interest payable and similar expenses	33,809	40,025
	---------	---------
Profit for the financial year before members' remuneration and profit shares available for discretionary division among members	86,366	52,746
	---------	---------

All the activities of the LLP are from continuing operations.

Truscon Property Services LLP

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		833,288	975,384

Current assets

Debtors	7	52,845	23,148
Cash at bank and in hand		53,378	34,295
		---------	--------
		106,223	57,443

Creditors: amounts falling due within one year	8	26,057		67,810
		---------		--------
Net current assets/(liabilities)			80,166	( 10,367)
			---------	---------
Total assets less current liabilities			913,454	965,017

Creditors: amounts falling due after more than one year	9	1,750	426,983
		---------	---------
Net assets		911,704	538,034
		---------	---------

Represented by:

Loans and other debts due to members

Other amounts	10	911,704	538,034
		---------	---------

Members' other interests

Other reserves	–	–
	---------	---------
	911,704	538,034
	---------	---------

Total members' interests

Loans and other debts due to members	10	911,704	538,034
Members' other interests		–	–
		---------	---------
		911,704	538,034
		---------	---------

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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) relating to small LLPs.

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 financial statements .

Truscon Property Services LLP

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the members and authorised for issue on 25 October 2025 , and are signed on their behalf by:

Mr R Telling	Mr A Andrew
Designated Member	Designated Member

Registered number: OC370749

Truscon Property Services LLP

Reconciliation of Members' Interests

Year ended 31 March 2025

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2025
	£	£	£	£	£
Balance at 1 April 2024	–	–	534,376	534,376	534,376
Profit for the financial year available for discretionary division among members	86,366	86,366			86,366
	--------	--------	---------	---------	---------
Members' interests after profit for the year	86,366	86,366	534,376	534,376	620,742
Other division of profits	(86,366)	(86,366)	86,366	86,366	–
Introduced by members		–	450,000	450,000	450,000
Drawings			(159,038)	(159,038)	(159,038)
Other movements	–	–	–	–	–
	--------	--------	---------	---------	---------
Balance at 31 March 2025	–	–	911,704	911,704	911,704
	--------	--------	---------	---------	---------

Truscon Property Services LLP

Reconciliation of Members' Interests (continued)

Year ended 31 March 2025

	Members' other interests		Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total 2024
	£	£	£	£	£
Balance at 1 April 2023	–	–	575,615	575,615	575,615
Profit for the financial year available for discretionary division among members	52,746	52,746			52,746
	--------	--------	---------	---------	---------
Members' interests after profit for the year	52,746	52,746	575,615	575,615	628,361
Other division of profits	(50,808)	(50,808)	50,808	50,808	–
Introduced by members		–	–	–	–
Drawings			(90,667)	(90,667)	(90,667)
Other movements	–	–	2,278	2,278	2,278
	--------	--------	---------	---------	---------
Balance at 31 March 2024	1,938	1,938	538,034	538,034	539,972
	--------	--------	---------	---------	---------

Truscon Property Services LLP

Notes to the Financial Statements

Year ended 31 March 2025

1.	General information

The LLP is registered in England and Wales. The address of the registered office is Little Owl Farm, Halebourne Lane, CHOBHAM, Surrey, GU24 8LS.

2.	Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP 2021).

3.	Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the LLP. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.

Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.

Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.

All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Motor Vehicles	-	14% straight line

4.	Employee numbers

The average number of persons employed by the LLP during the year, including the members with contracts of employment, amounted to Nil (2024: 1 ).

5.	Operating profit

Operating profit or loss is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	3,461	5,192
	-------	-------

6.	Tangible assets

	Land and buildings	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	949,802	36,398	986,200
Disposals	( 120,778)	( 36,398)	( 157,176)
Transfers	4,264	–	4,264
	---------	--------	---------
At 31 March 2025	833,288	–	833,288
	---------	--------	---------
Depreciation
At 1 April 2024	–	10,816	10,816
Charge for the year	–	3,461	3,461
Disposals	–	( 14,277)	( 14,277)
	---------	--------	---------
At 31 March 2025	–	–	–
	---------	--------	---------
Carrying amount
At 31 March 2025	833,288	–	833,288
	---------	--------	---------
At 31 March 2024	949,802	25,582	975,384
	---------	--------	---------

7.	Debtors

	2025	2024
	£	£
Trade debtors	38,045	7,341
Other debtors	14,800	15,807
	--------	--------
	52,845	23,148
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	15,941
Trade creditors	18,515	36,396
Social security and other taxes	6,122	8,371
Other creditors	1,420	7,102
	--------	--------
	26,057	67,810
	--------	--------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest	1,750	1,750
Other creditors	–	425,233
	-------	---------
	1,750	426,983
	-------	---------

10.	Loans and other debts due to members

	2025	2024
	£	£
Loans from members	862,492	412,492
Amounts owed to members in respect of profits	49,212	125,542
	---------	---------
	911,704	538,034
	---------	---------

Truscon Property Services LLP

Management Information

Year ended 31 March 2025

The following pages do not form part of the financial statements.

Truscon Property Services LLP

Members Detailed Schedules

Year ended 31 March 2025

Members current account detailed analysis for the year ending 31 March 2025

	C & S Transport Holdings Limited	Mr C Haines	Mr R Telling	Mr A Andrew	Total
	£	£	£	£	£
Balance at 1 April 2024	118,787	3,097	–	–	121,884
Allocated profits - fixed profit share	9,467	25,111	–	–	34,578
Discretionary allocation of profits	36,252	10,984	2,276	2,276	51,788
Drawings	(119,846)	(39,192)	–	–	(159,038)
	---------	--------	-------	-------	---------
Balance at 31 March 2025	44,660	–	2,276	2,276	49,212
	---------	--------	-------	-------	---------