| International Property Consultancy LLP |
| Registered number: |
OC403246 |
| Balance Sheet |
| as at 31 March 2025 |
| Notes |
|
2025 |
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
51,719 |
|
52,147 |
| Current assets |
|
|
|
|
|
| Stocks |
|
|
721,123 |
|
680,789 |
| Debtors |
4 |
|
1,943,043 |
|
1,876,869 |
| Cash at bank and in hand |
|
|
5,060 |
|
425 |
|
|
|
2,669,226 |
|
2,558,083 |
|
| Creditors: amounts falling due within one year |
5 |
|
(2,406,081) |
|
(2,394,388) |
|
| Net current assets |
|
|
263,145 |
|
163,695 |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
314,864 |
|
215,842 |
| Creditors: amounts falling due after more than one year |
6 |
|
(1,016,016) |
|
(992,805) |
|
| Net liabilities attributable to members |
(701,152) |
|
(776,963) |
|
|
|
|
|
|
| Represented by: |
| Loans and other debts due to members |
7 |
|
(584,145) |
|
(674,623) |
|
|
|
|
|
|
| Members' other interests |
| Other reserves |
|
|
(117,007) |
|
(102,340) |
|
|
|
|
|
|
|
|
|
(701,152) |
|
(776,963) |
|
|
|
|
|
|
| Total members' interests |
| Loans and other debts due to members |
7 |
|
(584,145) |
|
(674,623) |
| Members' other interests |
|
|
(117,007) |
|
(102,340) |
|
|
|
|
(701,152) |
|
(776,963) |
|
|
|
|
|
|
| For the period ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| These accounts were approved by the members on 6 May 2026 and signed on their behalf by: |
|
|
| Mr I Mitchell |
| Designated member |
|
| International Property Consultancy LLP |
| Notes to the Accounts |
| for the period from 1 January 2025 to 31 March 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Taxation |
|
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold property |
Nil |
|
Office equipment, furniture and fittings |
25% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
|
Going concern |
|
The LLP’s balance sheet shows a net liability position. However, the members consider the LLP can continue to rely upon their own support to ensure that its liabilities can be settled when they fall due. Accordingly, these financial statements have been prepared on a going concern basis and do not include any provision for adjustments that may become necessary if the support referred to above were withdrawn. |
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the LLP |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Office equipment, furniture and fittings |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 January 2025 |
41,642 |
|
44,160 |
|
85,802 |
|
Additions |
- |
|
108 |
|
108 |
|
At 31 March 2025 |
41,642 |
|
44,268 |
|
85,910 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2025 |
- |
|
33,655 |
|
33,655 |
|
Charge for the period |
- |
|
536 |
|
536 |
|
At 31 March 2025 |
- |
|
34,191 |
|
34,191 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
41,642 |
|
10,077 |
|
51,719 |
|
At 31 December 2024 |
41,642 |
|
10,505 |
|
52,147 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
VAT |
6,844 |
|
1,085 |
|
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest |
|
1,930,199 |
|
1,868,625 |
|
Other debtors |
6,000 |
|
7,159 |
|
|
|
|
|
|
1,943,043 |
|
1,876,869 |
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
32,767 |
|
32,767 |
|
Trade creditors |
37,953 |
|
33,760 |
|
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest |
|
2,256,006 |
|
2,248,506 |
|
Accruals |
79,355 |
|
79,355 |
|
|
|
|
|
|
2,406,081 |
|
2,394,388 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
1,016,016 |
|
992,805 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans and other debts due to members |
2025 |
|
2024 |
| £ |
£ |
|
|
Amounts due to members in respect of profits |
(584,145) |
|
(674,623) |
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year |
(584,145) |
|
(674,623) |
|
|
|
|
|
|
|
|
|
|
Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up. |
|
|
| 8 |
Other information |
|
|
International Property Consultancy LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
The Mill |
|
Kingsteignton Road |
|
Newton Abbot |
|
Devon |
|
TQ12 2QA |