UK Commercial Property (Exeter) LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC319819 (England and Wales)

UK Commercial Property (Exeter) LLP

Unaudited Financial Statements For The Year Ended 31 March 2026

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Egan Lawson Investments Limited

UKCP (EL4) Limited

REGISTERED OFFICE:

3 Coldbath Square

London

EC1R 5HL

REGISTERED NUMBER:

OC319819 (England and Wales)

ACCOUNTANTS:

Kingswood Allotts Limited

Chartered Accountants

Sidings Court

Lakeside

Doncaster

DN4 5NU

FIXED ASSETS

Investment property

4

4,750,000

CURRENT ASSETS

Debtors

5

35,443

437,678

Cash at bank

98,370

536

133,813

438,214

CREDITORS

Amounts falling due within one year

6

207,300

2,826,466

NET CURRENT LIABILITIES

(73,487

)

(2,388,252

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,676,513

2,361,748

CREDITORS

Amounts falling due after more than one
year

7

2,400,000

-

NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,276,513

2,361,748

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

2,781,693

2,866,928

MEMBERS' OTHER INTERESTS

Capital accounts

1,700,000

Revaluation reserve

10

(2,205,180

)

(2,205,180

)

2,276,513

2,361,748

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

2,781,693

2,866,928

Members' other interests

(505,180

)

(505,180

)

2,276,513

2,361,748

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 14 September 2026 and were signed by:

Egan Lawson Investments Limited - Designated member

1.	STATUTORY INFORMATION

UK Commercial Property (Exeter) LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Freehold investment property is recognised at fair value, at the date of revaluation, less any accumulated depreciation and subsequent impairment losses. Revaluations are completed with sufficient regulatory to ensure the carrying amount does not materially differ from that which would be determined using fair value at the balance sheet date.

Fair values are calculated by professional qualified valuers, based on assumptions and available market evidence.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains, in which case the excess losses are recognised in profit or loss.

No depreciation is provided for these assets.

Financial instruments

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

These assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Allocation of profits and drawings

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.

The use of 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. Conversely, a discretionary division of profits requires the members of the LLP to make a decision, which it has the unconditional right to avoid making.

The LLP uses an automatic division of profits. Automatic divisions of profit are recognised as a credit within the current account of the Members, located in other reserves.The automatic division of profits are recognised as 'Members' remuneration charged as an expense in the Profit and Loss account. If the LLP is loss making in the year this loss will be automatically divided between the Members in the same allocation. This will be shown as a debit in the Members current account balances.

Taxation

The financial statements do not incorporate any charge or liability for taxation on the results of the LLP, as the relevant income tax is the responsibility of the individual members.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

4,750,000

NET BOOK VALUE

At 31 March 2026

4,750,000

At 31 March 2025

4,750,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

33,451

58,473

Other debtors

-

361,638

VAT

-

15,639

Prepayments and accrued income

1,992

1,928

35,443

437,678

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

-

2,300,000

Trade creditors

13,243

2,958

VAT

8,509

-

Other creditors

63,977

184,717

Accruals and deferred income

121,571

338,791

207,300

2,826,466

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

Bank loans - 1-2 years

2,400,000

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank loans

2,400,000

2,300,000

Loans are secured by way of fixed and floating charges on the company's property.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2026

2025

£

Members' capital classified as a liability

1,406,795

Undrawn profits

1,374,898

1,460,133

2,781,693

2,866,928

In the event of winding up, amounts in 'Loans and other debts due to members' (other than members' capital classified as debt) would rank pari passu with unsecured creditors. No other protection is afforded to creditors in such an event which is legally enforceable and cannot be revoked solely by a decision of the members.

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

10.

RESERVES

Revaluation

reserve

£

At 1 April 2025

and 31 March 2026

(2,205,180

)