REGISTERED NUMBER: OC372623 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2026

for

Bevan & Clarke Assets LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

B J Bevan

Mrs E R Bevan

B H Bevan

Mrs H A Bevan

N P Clark

Baglan Nursing Home Limited

REGISTERED OFFICE:

3 Rossers Field

Mumbles

Swansea

SA3 4JQ

REGISTERED NUMBER:

OC372623 (England and Wales)

ACCOUNTANTS:

APT

44 The Pantiles

Tunbridge Wells

Kent

TN2 5TN

FIXED ASSETS

Tangible assets

4

1,504,418

2,107,591

Investments

5

237,934

237,934

Investment property

6

640,000

610,000

2,382,352

2,955,525

CURRENT ASSETS

Debtors

7

280,076

183,034

Cash at bank

310,305

194,700

590,381

377,734

CREDITORS

Amounts falling due within one year

8

397,244

67,351

NET CURRENT ASSETS

193,137

310,383

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

2,575,489

3,265,908

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

-

13,738

MEMBERS' OTHER INTERESTS

Capital accounts

1,723,573

2,188,147

Other reserves

10

851,916

1,064,023

2,575,489

3,265,908

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

-

13,738

Members' other interests

2,575,489

3,252,170

Amounts due from members

7

(277,000

)

(180,000

)

2,298,489

3,085,908

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 1 October 2026 and were signed by:

B J Bevan - Designated member

1.	STATUTORY INFORMATION

Bevan & Clarke Assets 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 as modified by the revaluation of certain assets.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern

After reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Depreciation of £nil has been charged on the land & buildings as the members consider that the net realisable value is at least equal to the valuation.

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.

Investments

Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Financial instruments

Basic financial assets, including trade and other receivables and 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.

Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables 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.

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

Provision for liabilities

Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 April 2025

2,100,000

167,498

2,267,498

Disposals

(300,000

)

(56,000

)

(356,000

)

Impairments

(300,000

)

-

(300,000

)

At 31 March 2026

1,500,000

111,498

1,611,498

DEPRECIATION

At 1 April 2025

-

159,907

159,907

Charge for year

-

1,898

1,898

Eliminated on disposal

-

(54,725

)

(54,725

)

At 31 March 2026

-

107,080

107,080

NET BOOK VALUE

At 31 March 2026

1,500,000

4,418

1,504,418

At 31 March 2025

2,100,000

7,591

2,107,591

Depreciation of £nil has been charged on the land & buildings as the members consider that the net realisable value is at least equal to the valuation. Freehold property is valued by the members and included at its open market value.

Cost or valuation at 31 March 2026 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2013

451,916

-

451,916

Valuation in 2021

400,000

-

400,000

Cost

648,084

111,498

759,582

1,500,000

111,498

1,611,498

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.3.26

31.3.25

£

£

Brought forward

237,934

237,934

Investments (neither listed nor unlisted) represent the LLP's capital account balance in Bevan & Clarke LLP at cost.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

610,000

Additions

8,017

Revaluations

21,983

At 31 March 2026

640,000

NET BOOK VALUE

At 31 March 2026

640,000

At 31 March 2025

610,000

The investment properties have been valued by the designated members and are disclosed at fair value.

Fair value at 31 March 2026 is represented by:

£

Valuation in 2021

70,000

Valuation in 2025

20,000

Valuation in 2026

21,983

Cost

528,017

640,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Other debtors

280,076

183,034

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

1,567

-

Other creditors

395,677

67,351

397,244

67,351

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally to other creditors

10.

RESERVES

Other

reserves

£

At 1 April 2025

1,064,023

Transfer from/(to) current account

(212,107

)

At 31 March 2026

851,916

Other reserves consist of property revaluation gains.

11.	RELATED PARTY DISCLOSURES