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Registered number: OC322260 ROOFF PROPERTY LLP ANNUAL REPORT AND FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025
ROOFF PROPERTY LLP REGISTERED NUMBER: OC322260 BALANCE SHEET AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 4,192,030 |  | 4,268,042
Investment property | 7 |  | 2,301,660 |  | 2,290,000
|  |  | 6,493,690 |  | 6,558,042
Current assets |  |  |  |  |
Stocks | 8 | 9,050,919 |  | 7,681,904 |
Debtors: amounts falling due within one year | 9 | 45,125 |  | 42,273 |
Current asset investments | 10 | 1 |  | 1 |
Cash at bank and in hand | 11 | 87,548 |  | 128,958 |
|  | 9,183,593 |  | 7,853,136 |
Creditors: Amounts Falling Due Within One Year | 12 | (4,788,031) |  | (3,636,169) |
Net current assets |  |  | 4,395,562 |  | 4,216,967
Net assets |  |  | 10,889,252 |  | 10,775,009
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 13 |  | 7,267,098 |  | 7,152,855
Members' other interests |  |  |  |  |
Members' capital classified as equity |  |  | 3,622,154 |  | 3,622,154
|  |  | 10,889,252 |  | 10,775,009
Total members' interests |  |  |  |  |
Loans and other debts due to members | 13 |  | 7,267,098 |  | 7,152,855
Members' other interests |  |  | 3,622,154 |  | 3,622,154
|  |  | 10,889,252 |  | 10,775,009
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ROOFF PROPERTY LLP REGISTERED NUMBER: OC322260 BALANCE SHEET (CONTINUED) AS AT 30 JUNE 2025 The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime. The financial statements were approved and authorised for issue by the members and were signed on their behalf on 9 January 2026.
M P S Horn | Horn Property Developments Limited
Designated member | Designated member
The notes on pages 4 to 12 form part of these financial statements. Rooff Property LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity. Page 2
ROOFF PROPERTY LLP RECONCILIATION OF MEMBERS' INTERESTS FOR THE YEAR ENDED 30 JUNE 2025
| EQUITY Members' other interests | DEBT Loans and other debts due to members less any amounts due from members in debtors | Total members' interests
| Members' capital (classified as equity) | Other amounts | Total
| £ | £ | £
Balance at 1 July 2022 | 3,622,154 | 6,916,108 | 10,538,262
Members' remuneration charged as an expense | - | 236,747 | 236,747
Amounts due to members |  | 7,152,855 |
Balance at 30 June 2024 | 3,622,154 | 7,152,855 | 10,775,009
Balance at 1 July 2024 | 3,622,154 | 7,152,855 | 10,775,009
Members' remuneration charged as an expense | - | 129,643 | 129,643
Drawings on account and distribution of profit | - | (15,400) | (15,400)
Amounts due to members |  | 7,267,098 |
Balance at 30 June 2025 | 3,622,154 | 7,267,098 | 10,889,252
There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
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ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
Rooff Property LLP ("the LLP") is a limited liability partnership, incorporated in England and Wales. Its registered office is The Granary, 80 Abbey Road, Barking, London, IG11 7BT. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The LLP has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Horn Property Developments Limited as at 30 June 2025 and these financial statements may be obtained from that company's registered office. Page 4
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Property sales Revenue from the sale of properties held as stock is recognised when all of the following conditions are satisfied: ∙the LLP has transferred the significant risks and rewards of ownership to the buyer; ∙the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the LLP will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Property sales that fall under long term contracts are included within turnover on the basis of the sales value of work performed during the year by reference to the total sales value and stage of completion of these contracts. Contract costs are recognised based on the recorded contract turnover to ascertain attributable profit. Property rentals Rental income from operating leases is recognised on a straight line basis over the term of the lease unless the lease payments are structured to increase in line with expected general inflation in which case the income is recognised as revenue in accordance with the expected payments. Rental income is generated from fixed assets and investment properties and is recognised within turnover.
| 2.4 | Division and distribution of profits
A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period. An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making. The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in . Page 5
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following annual basis:
|  |  |  | Freehold property | - | 2% | Straight Line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
| 2.6 | Long-term contracts
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for the contract. Revenue derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
| 2.7 | Investment property
Investment property is carried at fair value determined annually by the directors, on the advice of internal staff expertise, and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.
| 2.8 | Stocks
Stocks represent the cost of long term balances on construction projects. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Page 6
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.10 | Creditors
Short-term creditors are measured at the transaction price.
| 2.11 | Operating leases: the LLP as lessor
Rental income from operating leases is credited to the Statement of comprehensive income on a straight-line basis over the lease term.
| 2.12 | Financial instruments
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Basic financial assets Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. Page 7
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. a) Critical judgements in applying the entity's accounting policies (i) Valuation of investment properties. The valuation of investment properties has been made by the directors, on the advice of internal staff expertise and knowledge of the market. b) Critical accounting estimates and assumptions No critical accounting estimates or assumptions have had to be made by management in preparing these financial statements.
4. | Employees
The entity has no employees other than the members, who did not receive any remuneration (2024 - £Nil). Page 8
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | Tangible fixed assets
|  | Freehold land and buildings
|  | £
| Cost or valuation |
| At 1 July 2024 | 5,218,351
| At 30 June 2025 | 5,218,351
| Depreciation |
| At 1 July 2024 | 950,309
| Charge for the year on owned assets | 76,012
| At 30 June 2025 | 1,026,321
| Net book value |
| At 30 June 2025 | 4,192,030
| At 30 June 2024 | 4,268,042
| Included in land and buildings is freehold land at valuation of £1,414,276 (2024 - £1,414,276).
6. | Lease of assets
The LLP has aggregate rentals receivable in relation to operating leases of £537,481 (2024 - £558,847). At 30 June, all of the LLP's freehold land and buildings were used in operating leases. Page 9
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
7. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 July 2024 | 2,290,000
| Additions at cost | 11,660
| At 30 June 2025 | 2,301,660
The property was professionally valued in June 2022, on an open market value for existing use basis. In the opinion of the directors this value has not changed as at the balance sheet date.
8. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Property development stock | 9,050,919 | 7,681,904
9. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 45,125 | 42,032
| Other debtors | - | 241
|  | 45,125 | 42,273
10. | Current asset investments
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Investments in short term developments | 1 | 1
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ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
11. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 87,548 | 128,958
12. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 2,187,910 | 2,149,187
| Amounts owed to connected entities | 2,147,403 | 1,094,209
| Other creditors | 78,546 | 80,106
| Accruals and deferred income | 374,172 | 312,667
|  | 4,788,031 | 3,636,169
13. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | 7,267,098 | 7,152,855
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 7,267,098 | 7,152,855
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up. Page 11
ROOFF PROPERTY LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
14. | Commitments under operating leases
| At 30 June 2025 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 290,267 | 299,631
| Later than 1 year and not later than 5 years | 632,568 | 379,137
| Later than 5 years | - | 130,945
|  | 922,835 | 809,713
15. | Related party transactions
| The entity has taken advantage of the exemption available under Financial Reporting Standard 102 section 33 'Related Party Transactions' not to disclose transactions with entities included in the consolidated financial statements of Horn Property Developments Limited, its ultimate parent undertaking. During the year, the entity received income of £156,000 (2024 - £156,000), incurred management fees of £162,000 (2024 - £162,000) and incurred construction charges of £1,311,032 (2024 - £2,572,706) from/by companies under common control. At the year end the entity owed these companies £2,147,403 (2024 -£1,094,209). During the year, the entity provided construction services valued at £518,426 (2024 - £786,883) in respect of sales to a director.
16. | Controlling party
The LLP is a wholly controlled subsidiary of Horn Property Developments Limited. The consolidated financial statements of Horn Property Developments Limited are available from The Granary, 80 Abbey Road, Barking, London, IG11 7BT. As at 30 June 2025 the ultimate controlling party of the LLP is a family trust of which A A Horn and M P S Horn are Trustees.
17. | Auditors' information
The auditors' report on the financial statements for the year ended 30 June 2025 was unqualified. The audit report was signed on 13 January 2026 by Stuart Moon (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
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