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OC330981 HAMLET PROPERTY (ALTON) LLP UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
HAMLET PROPERTY (ALTON) LLP REGISTERED NUMBER: OC330981 BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 274 |  | 365
Investment property | 5 |  | 1,640,000 |  | 1,640,000
|  |  | 1,640,274 |  | 1,640,365
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,237,372 |  | 1,181,082 |
Cash at bank and in hand |  | 1,901 |  | 4,208 |
|  | 1,239,273 |  | 1,185,290 |
Creditors: Amounts Falling Due Within One Year | 7 | (692,261) |  | (681,442) |
Net current assets |  |  | 547,012 |  | 503,848
Total assets less current liabilities |  |  | 2,187,286 |  | 2,144,213
Net assets |  |  | 2,187,286 |  | 2,144,213
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 9 |  | 97,969 |  | 54,896
Members' other interests |  |  |  |  |
Members' capital classified as equity |  | 3,050,400 |  | 3,050,400 |
Revaluation reserve classified as equity |  | (961,083) |  | (961,083) |
|  |  | 2,089,317 |  | 2,089,317
|  |  | 2,187,286 |  | 2,144,213
Total members' interests |  |  |  |  |
Loans and other debts due to members | 9 |  | 97,969 |  | 54,896
Members' other interests |  |  | 2,089,317 |  | 2,089,317
|  |  | 2,187,286 |  | 2,144,213
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HAMLET PROPERTY (ALTON) LLP REGISTERED NUMBER: OC330981 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025 The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime. The entity 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. The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements. 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 20 January 2026.
D J Lichtig Esq
Designated member
The notes on pages 3 to 9 form part of these financial statements. Hamlet Property (Alton) 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
HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Hamlet Property (Alton) LLP operates in property management and lettings. It is a limited liability partnership, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA 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 | Going concern
As part of their going concern review, the members have followed the guidelines published by the Financial Reporting Council entitled "Going Concern and Liquidity Risk Guidance for UK Companies 2009". The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. On this basis the members consider that the going concern basis of accounting remains appropriate.
| 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: Rental income Rental income from operating leases is recognised on a straight line basis over the term of the lease.
| 2.4 | Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 3
HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.5 | 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 . In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.
| 2.6 | 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. At each reporting date the LLP assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following annual basis:
|  |  |  | Fixtures and fittings | - | 25% reducing balance
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.
| 2.7 | Investment property
Investment property is carried at fair value determined annually by external valuers 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. Page 4
HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.8 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
| 2.10 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3. | Members details
|  | 2025 | 2022
| The average number of members during the year was | 5 | 5
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HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost |
| At 1 August 2024 | 36,365
| At 31 July 2025 | 36,365
| Depreciation |
| At 1 August 2024 | 36,000
| Charge for the year on owned assets | 91
| At 31 July 2025 | 36,091
| Net book value |
| At 31 July 2025 | 274
| At 31 July 2024 | 365
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HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
5. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 August 2024 | 1,640,000
| At 31 July 2025 | 1,640,000
| The 2025 valuations were made by the directors, on an open market value for existing use basis. Included in investment properties are properties held for use in operating leases with a value of £1,640,000 (2024 - £1,640,000). Rental income generated from operating leases in the year amounted to £162,500 (2024 - £166,932).
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 2,552,642 | 2,552,642
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 17,695 | 17,469
| Amounts owed by group undertakings | 1,217,915 | 1,162,533
| Prepayments and accrued income | 1,762 | 1,080
|  | 1,237,372 | 1,181,082
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HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 635,000 | 635,000
| Trade creditors | 6,244 | 630
| Other taxation and social security | 10,517 | 5,312
| Other creditors | 8,000 | 8,000
| Accruals and deferred income | 32,500 | 32,500
|  | 692,261 | 681,442
8. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 635,000 | 635,000
| The Company has a bank loan of £635,000 (2024 - £635,000). The loan bears interest at 3% above the Bank of England's base rate. The loan is secured by a debenture dated 11 July 2013 incorporating a fixed and floating charge over the LLP and all its present and future property and assets.
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HAMLET PROPERTY (ALTON) LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other amounts due to members | 97,969 | 54,896
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Falling due within one year | 97,969 | 54,896
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
10. | Guarantees
Hamlet Property (Alton) LLP entered into a loan agreement for £835,000. Hamlet Investments Limited, a former member of the LLP, and Hamlet Property Developments Limited, a subsidiary of Hamlet Investments Limited, have secured these loans by way of a debenture dated 11 July 2013 incorporating a fixed and floating charge over the companies and all their present and future property and assets. At the year end £635,000 (2024 - £635,000) remained outstanding.
11. | Related party transactions
| During the year the LLP engaged in transactions with an entity which holds a participating interest in the LLP. At the year end, the LLP owed the entity £271,453 (2024 - £223,551).
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