REGISTERED NUMBER: OC421936 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

SPRINGFIELD 1991 LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

D J Gray

S L M Gray

REGISTERED OFFICE:

Springfield Cottage

Cottage Lane

Westfield

Hastings

East Sussex

TN35 4RT

REGISTERED NUMBER:

OC421936 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

28 Wilton Road

Bexhill on Sea

East Sussex

TN40 1EZ

The members present their report with the financial statements of the LLP for the year ended 31 March 2026.

PRINCIPAL ACTIVITIES

The principal activity of the LLP in the period under review was the rental of property.

DESIGNATED MEMBERS

The designated members during the year under review were:

D J Gray

S L M Gray

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The loss for the year before members' remuneration and profit shares was £90,108 (2025 - £8,114 profit).

MEMBERS' INTERESTS

The policies regarding the allocation of profits to members, drawings and the subscription and repayment of members' capital are disclosed in the accounting policies, note 1 of the financial statements.

The members' interests are disclosed in the notes to the financial statements.

ON BEHALF OF THE MEMBERS:

D J Gray - Designated member

23 October 2026

TURNOVER

44,401

44,637

Administrative expenses

(9,509

)

(36,523

)

34,892

8,114

Other operating income

(125,000

)

-

OPERATING (LOSS)/PROFIT and

(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

(90,108

)

8,114

FIXED ASSETS

Tangible assets

5

28,810

8,738

Investment property

6

785,000

910,000

813,810

918,738

CURRENT ASSETS

Cash at bank

98,760

84,440

CREDITORS

Amounts falling due within one year

7

4,590

5,090

NET CURRENT ASSETS

94,170

79,350

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO MEMBERS

907,980

998,088

LOANS AND OTHER DEBTS DUE TO MEMBERS

-

-

MEMBERS' OTHER INTERESTS

Capital accounts

907,980

998,088

907,980

998,088

TOTAL MEMBERS' INTERESTS

Members' other interests

907,980

998,088

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 in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 23 October 2026 and were signed by:

D J Gray - Designated member

1.	STATUTORY INFORMATION

Springfield 1991 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

In preparing the financial statements, the members are required to make an assessment of the ability of the LLP to continue as a going concern. The members have considered all available evidence for the LLP which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the members are confident that the LLP has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the members have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover

Turnover represents rental income received, excluding value added tax. Turnover is recognised when the company receives the right to consideration based on the tenancy agreements in place.

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 etc

-

33% on cost and 25% on reducing balance

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.

No depreciation or amortisation is provided in respect of freehold or leasehold properties having more than 20 years unexpired. This departure from the requirements of the Companies Act 2006, for all properties to be depreciated, is, in the opinion of the Members, necessary for the financial statements to give a true and fair view in accordance with applicable accounting standards, as properties are included in the financial statements at their fair value.

Capital subscriptions and repayments

The capital requirements of the partnership are determined from time to time by the Designated Members. The amount of capital subscribed by each member is linked to the earnings allocated to that member. Interest is paid at the discretion of the designated members.

Allocation of profits and drawings

The allocation of profits to those who were members during the year is made by unanimous vote of the Designated Members.

During the year members draw sums as agreed by the Designated Members, taking into account the partnership's cash requirements for operating and investing activities.

3.	EMPLOYEE INFORMATION

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

4.	OPERATING (LOSS)/PROFIT

The operating loss (2025 - operating profit) is stated after charging:

31.3.26

31.3.25

£

£

Depreciation - owned assets

10,056

3,178

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2025

32,543

Additions

34,295

Disposals

(9,876

)

At 31 March 2026

56,962

DEPRECIATION

At 1 April 2025

23,805

Charge for year

10,056

Eliminated on disposal

(5,709

)

At 31 March 2026

28,152

NET BOOK VALUE

At 31 March 2026

28,810

At 31 March 2025

8,738

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

910,000

Revaluations

(125,000

)

At 31 March 2026

785,000

NET BOOK VALUE

At 31 March 2026

785,000

At 31 March 2025

910,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2019

412,377

Valuation in 2023

497,623

Valuation in 2026

(125,000

)

785,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.26

31.3.25

£

£

Cost

412,377

412,377

Investment property was valued on an open market basis on 31 March 2026 by the members .

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Other creditors

4,590

5,090