Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Harepath Estates LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

C P Ackley

P J Whiteway

Mrs P H Whiteway

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

OC317259 (England and Wales)

ACCOUNTANTS:

Williams & Co Epsom LLP

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Tangible assets

4

21,669

835

Investment property

5

22,257,883

22,582,547

22,279,552

22,583,382

CURRENT ASSETS

Debtors

6

1,166,433

5,209,231

Cash at bank

885,203

1,335,535

2,051,636

6,544,766

CREDITORS

Amounts falling due within one year

7

2,999,156

2,292,367

NET CURRENT (LIABILITIES)/ASSETS

(947,520

)

4,252,399

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

21,332,032

26,835,781

CREDITORS

Amounts falling due after more than one year

8

14,113,485

16,097,152

LOANS AND OTHER DEBTS DUE TO MEMBERS

11

72,866

-

MEMBERS' OTHER INTERESTS

Fair valuation reserve

12

7,145,681

10,738,629

21,332,032

26,835,781

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

72,866

-

Members' other interests

7,145,681

10,738,629

Amounts due from members

6

(79,074

)

(4,149,217

)

7,139,473

6,589,412

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 6 October 2026 and were signed by:

P J Whiteway - Designated member

1.	STATUTORY INFORMATION

Harepath Estates 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 represents rental income and service charges generated from investment property, excluding value added tax.

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

-

Straight line over 3 years

Motor vehicles

-

Straight line over 3 years

Computer equipment

-

Straight line over 3 years

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.

When an investment property is derecognised, the resultant gain or loss is recognised through profit or loss.

Pension costs and other post-retirement benefits

The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2025 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2025

24,000

35,189

4,942

64,131

Additions

-

32,190

-

32,190

Disposals

-

(35,189

)

-

(35,189

)

At 31 March 2026

24,000

32,190

4,942

61,132

DEPRECIATION

At 1 April 2025

23,717

35,189

4,390

63,296

Charge for year

142

10,730

484

11,356

Eliminated on disposal

-

(35,189

)

-

(35,189

)

At 31 March 2026

23,859

10,730

4,874

39,463

NET BOOK VALUE

At 31 March 2026

141

21,460

68

21,669

At 31 March 2025

283

-

552

835

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

22,582,547

Disposals

(324,664

)

At 31 March 2026

22,257,883

NET BOOK VALUE

At 31 March 2026

22,257,883

At 31 March 2025

22,582,547

If investment property were not carried at it's revalued amount it would be carried at cost, being £10,046,265 (2024: £14,213,570)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

61,597

47,631

Amounts owed by group undertakings

715,612

629,712

Amounts due from members

79,074

4,149,217

Other debtors

125,000

240,000

Rental deposits held

117,446

124,562

Prepayments

15,681

18,109

Accrued income

52,023

-

1,166,433

5,209,231

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Hire purchase contracts

3,907

18,623

Trade creditors

11,119

23,682

Social security and other taxes

-

2,122

Capital gains tax due

751,456

-

VAT

18,808

12,695

Accruals and deferred income

490,543

537,112

Accrued expenses

1,565,925

1,540,735

Tax due

157,398

157,398

2,999,156

2,292,367

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans (see note 9)

11,117,500

11,285,000

Other loans (see note 9)

719,952

1,081,394

Hire purchase contracts

19,502

-

Deferred tax

2,256,531

3,730,758

14,113,485

16,097,152

9.

LOANS

An analysis of the maturity of loans is given below:

2026

2025

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

5,785,000

5,785,000

Bank loan

5,332,500

5,500,000

Other loans - 2-5 years

719,952

1,081,394

11,837,452

12,366,394

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

11,117,500

11,285,000

Bank loans are secured by way of a first legal charge over the freehold properties and a debenture given by the LLP.

Further, a guarantee has been given by C P Ackley and P J Whiteway, limited to £3,300,000.

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members' (other than members' capital classified as debt) rank after amounts due to other creditors.

12.

RESERVES

Fair

valuation

reserve

£

At 1 April 2025

10,738,629

Revaluation reserve

(2,684,657

)

Fair value adjustment

(908,291

)

At 31 March 2026

7,145,681

The above is shown net of the deferred tax provision made in the accounts (see note 9), representing potential capital gains tax payable on the disposal of investment properties.