Limited Liability Partnership registration number OC336476 (England and Wales)
MADEJSKI ARK LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
MADEJSKI ARK LLP
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
MADEJSKI ARK LLP
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Investment property
3
4,000,000
4,000,000
Current assets
Debtors
4
75,486
63,942
Cash at bank and in hand
148,197
21,702
223,683
85,644
Creditors: amounts falling due within one year
5
(78,377)
(95,210)
Net current assets/(liabilities)
145,306
(9,566)
Total assets less current liabilities and net assets attributable to members
4,145,306
3,990,434
Represented by:
Loans and other debts due to members within one year
7
Other amounts
6,586,237
6,431,365
Members' other interests
7
Members' capital classified as equity
2,571,068
2,571,068
Other reserves classified as equity
(5,011,999)
(5,011,999)
4,145,306
3,990,434
TOTAL MEMBERS' INTERESTS
Loans and other debts due to members
6,586,237
6,431,365
Members' other interests
(2,440,931)
(2,440,931)
4,145,306
3,990,434

For the financial year ended 31 March 2026 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.

MADEJSKI ARK LLP
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2026
31 March 2026
- 2 -

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

The financial statements were approved by the members and authorised for issue on 9 July 2026 and are signed on their behalf by:
09 July 2026
Sir R J Madejski OBE, DL
Designated member
Limited Liability Partnership registration number OC336476 (England and Wales)
MADEJSKI ARK LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -
1
Accounting policies
Limited liability partnership information

Madejski Ark LLP is a limited liability partnership incorporated in England and Wales. The registered office is 1 London Street, Reading, Berkshire, RG1 4QW.

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 May 2024, 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 to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rent receivable net of VAT from the investment properties owned by the LLP. Rent is recognised in the accounts o ver the term of lease, taking into account the initial rent free period.

1.3
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.

All amounts due to members that are classified as liabilities are presented within 'Loans and other debts due to members',

1.4
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.

1.5
Cash and cash equivalents

Cash at bank and in hand 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.

1.6
Financial instruments

The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments' 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.

MADEJSKI ARK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors 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 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow limited liability partnership companies and preference shares that are classified as debt, 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 receipts discounted at a market rate of interest.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

MADEJSKI ARK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 5 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the limited liability partnership’s obligations expire or are discharged or cancelled.

2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2026
2025
Number
Number
Total
0
0
3
Investment property
2026
£
Fair value
At 1 April 2025 and 31 March 2026
4,000,000

Investment property comprises various properties held for rental income. The fair value of the investment property has been arrived at on the basis of a valuation carried out at by Haslams Chartered Surveyors, who are not connected with the limited liability partnership. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The original cost of the properties was £9,011,999. The difference between the fair value of the properties and the original cost is shown in the 'Reconciliation of Members' Interest' note of the accounts under other reserves.

4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
75,486
63,942
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
420
-
Taxation and social security
22,622
21,314
Other creditors
55,335
73,896
78,377
95,210
MADEJSKI ARK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 6 -
6
Deferred income
2026
2025
£
£
Other deferred income
53,285
53,285
MADEJSKI ARK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
7
Reconciliation of Members' Interests
EQUITY
DEBT
TOTAL
Members' other interests
Loans and other debts due to members less any amounts due from members in debtors
MEMBERS'
INTERESTS
Members' capital
Revaluation
reserve
Other reserves
Total
Members' capital
Other amounts
Total
Total
2026
£
£
£
£
£
£
£
£
Amounts due to members
6,431,365
Amounts due from members
-
Balance at 1 April 2025
2,571,068
-
(5,011,999)
(2,440,931)
-
6,431,365
6,431,365
3,990,434
Effect of FRS 102 Periodic Review 2024
-
-
-
-
-
-
-
-
Profit for the financial year available for discretionary division among members
-
-
653,785
653,785
-
-
-
653,785
Members' interests after profit for the year
2,571,068
-
(4,358,214)
(1,787,146)
-
6,431,365
6,431,365
4,644,219
Allocation of profit for the financial year
-
-
(653,785)
(653,785)
-
-
-
(653,785)
-
-
-
-
-
653,785
653,785
653,785
Repayments of debt (including members' capital classified as a liability)
-
-
-
-
-
(498,913)
(498,913)
(498,913)
Amounts due to members
6,586,237
Amounts due from members
-
Balance at 31 March 2026
2,571,068
-
(5,011,999)
(2,440,931)
-
6,586,237
6,586,237
4,145,306
MADEJSKI ARK LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 8 -
8
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.

There are no restrictions or limitations on the ability of the members to reduce the amount of 'Members' other interests'.

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