Limited Liability Partnership registration number OC371748 (England and Wales)
TALINA LLP
Annual report and unaudited financial statements
For the year ended 30 April 2025
Pages for filing with registrar
TALINA LLP
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
TALINA LLP
STATEMENT OF FINANCIAL POSITION
As at 30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Non-current assets
Investment property
4
1,000,000
1,000,000
Current assets
Cash and cash equivalents
9,708
7,742
Current liabilities
5
(60,146)
(147,227)
Net current liabilities
(50,438)
(139,485)
Total assets less current liabilities
949,562
860,515
Non-current liabilities
6
(507,187)
(554,052)
Net assets attributable to members
442,375
306,463
Represented by:
Loans and other debts due to/(from) members within one year
Amounts due to members in respect of profits
44,931
8,227
Other amounts due to/(from) members
(228,712)
(236,939)
(183,781)
(228,712)
Members' other interests
Other reserves classified as equity
626,156
535,175
442,375
306,463
TALINA LLP
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 30 April 2025
- 2 -

For the financial year ended 30 April 2025 the limited liability partnership 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 limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

T he members of the limited liability partnership have elected not to include a copy of the income statement within the financial statements.

The financial statements were approved by the members and authorised for issue on 12 February 2026 and are signed on their behalf by:
C Edwards
Designated member
Limited Liability Partnership registration number OC371748 (England and Wales)
TALINA LLP
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 April 2025
- 3 -
1
Accounting policies
Limited liability partnership information

Talina LLP is a limited liability partnership incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified for the revaluation of investment properties. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the members have undertaken an assessment of the adequacy of the resources available to the limited liability partnership. The members have a reasonable expectation the limited liability partnership has adequate resources to continue in operational existence for the foreseeable future and accordingly continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

The Company's turnover comprises rental income from tenants of its investment property. It is recognised on an accrual basis. Rental income received in advance is deferred in the balance sheet and recognised as it is earned.

1.4
Members' participating interests

Members' participation rights are the rights of a member against the LLP that arise under the m embers' 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. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

1.5
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. Changes in fair value are recognised in profit or loss.

TALINA LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and b ank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Judgements and key sources of estimation uncertainty

In the application of the limited liability partnership’s accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

TALINA LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 April 2025
- 5 -
3
Employees

The average number of persons (excluding members) employed by the partnership during the year was 0 (2024 - 0).

2025
2024
Number
Number
Total
0
0

4
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
1,000,000

The members have met and considered the carrying value of the investment property. Having taken advice from external sources, in relation to similar properties and transactions, without obtaining an external valuation, the members are satisfied that the year end value of the property is appropriate and represents its market value at 30 April 20 2 5.

.

5
Current liabilities
2025
2024
£
£
Bank loans
47,646
44,307
Other payables
12,500
102,920
60,146
147,227
6
Non-current liabilities
2025
2024
£
£
Bank loans and overdrafts
507,187
554,052

The bank loan is secured by a fixed and floating charge over the assets of the LLP.

7
Related party transactions

During the year, rental income of £88,000 (20 2 4: £66,667) was receivable from a company which is controlled by the members and of which both members are directors. The company also agreed to additional rent charges for earlier periods amounting to £98,981. At the year end, an amount of £8,000 (2024: £90,981) was due to the company in respect of rent paid in advance.

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