Mabel Properties LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC411274 (England and Wales)

MABEL PROPERTIES LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

General information

1

Balance sheet

2

Notes to the financial statements

4

Chartered accountants' report

7

DESIGNATED MEMBERS:

P C Watson

S C Watson

C G Watson

Mrs G M Watson

REGISTERED OFFICE:

3rd Floor, Imperial House

21 - 25 North Street

Bromley

Kent

BR1 1SD

REGISTERED NUMBER:

OC411274 (England and Wales)

ACCOUNTANTS:

Berringers LLP

Chartered Accountants

3rd Floor, Imperial House

21 - 25 North Street

Bromley

Kent

BR1 1SD

FIXED ASSETS

Tangible assets

4

883

1,576

Investments

5

100

Investment property

6

8,711,211

8,712,194

8,712,887

CURRENT ASSETS

Debtors

7

262,252

302,252

Cash at bank

101,448

429,822

363,700

732,074

CREDITORS

Amounts falling due within one year

8

38,552

14,180

NET CURRENT ASSETS

325,148

717,894

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,037,342

9,430,781

CREDITORS

Amounts falling due after more than one
year

9

6,201,774

6,541,774

NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,835,568

2,889,007

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

2,835,568

2,889,007

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

2,835,568

2,889,007

Amounts due from members

7

(25,000

)

(25,000

)

2,810,568

2,864,007

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2026.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 3 September 2026 and were signed by:

P C Watson - Designated member

1.	STATUTORY INFORMATION

Mabel Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2025

and 31 March 2026

266

10,105

10,371

DEPRECIATION

At 1 April 2025

116

8,679

8,795

Charge for year

38

655

693

At 31 March 2026

154

9,334

9,488

NET BOOK VALUE

At 31 March 2026

112

771

883

At 31 March 2025

150

1,426

1,576

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2025

and 31 March 2026

100

NET BOOK VALUE

At 31 March 2026

100

At 31 March 2025

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

8,711,211

NET BOOK VALUE

At 31 March 2026

8,711,211

At 31 March 2025

8,711,211

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

4,300

Amounts owed by group undertakings

232,952

272,952

Other debtors

25,000

262,252

302,252

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Accruals and deferred income

14,512

14,180

Accrued expenses

24,040

-

38,552

14,180

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2026

2025

£

Bank loans - 2-5 years

395,000

735,000

Other creditors

5,806,774

6,201,774

6,541,774

The above bank loan is for 5 years and incurs interest at 8.5% per annum. It is repayable in full on 31 January 2028. Interest is charged on a quarterly basis as an expense to the company.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to unsecured creditors in the event of a winding up.

11.	RELATED PARTY DISCLOSURES

There is a loan to WGW Properties Limited for £232,952 (2025 - £272,952) a company which is wholly owned by Mabel Properties LLP. The retained reserves in WGW Properties Limited amounts to £134,987 (2025 - £125,832). No interest is charged on the loan.

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance sheet. Readers are cautioned that the Income statement and certain other primary statements and the Report of the members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have prepared for your approval the financial statements of Mabel Properties LLP for the year ended 31 March 2026 which comprise the Income statement, Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Mabel Properties LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Mabel Properties LLP and state those matters that we have agreed to state to the members of Mabel Properties LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mabel Properties LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Mabel Properties 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 Mabel Properties LLP. You consider that Mabel Properties LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Mabel Properties LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Berringers LLP

Chartered Accountants

3rd Floor, Imperial House

21 - 25 North Street

Bromley

Kent

BR1 1SD

3 September 2026