Company No: OC416517 (England and Wales)

Contents

• Balance Sheet
• Reconciliation of Members' Interests
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	600,516		600,516
		600,516		600,516
Current assets
Cash at bank and in hand		6,110		4,341
		6,110		4,341
Creditors: amounts falling due within one year	4	( 30,929)		( 29,913)
Net current liabilities		(24,819)		(25,572)
Total assets less current liabilities		575,697		574,944
Creditors: amounts falling due after more than one year	5	( 176,224)		( 206,333)
Net assets attributable to members		399,473		368,611
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		193,860		163,821
Other amounts		30,862		30,039
		224,722		193,860
Members' other interests
Members' capital classified as equity		174,751		174,751
		174,751		174,751
		399,473		368,611
Total members' interests
Loans and other debts due to members		224,722		193,860
Members' other interests		174,751		174,751
		399,473		368,611

For the financial year ending 05 April 2026 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

Members' responsibilities:

• The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Scott Bailey Properties LLP (registered number: OC416517) were approved and authorised for issue by the members on 29 October 2026. They were signed on its behalf by:

J P Burford Designated member

S J Unsworth Designated member

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Scott Bailey Properties LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is 63 High Street, Lymington, SO41 9ZT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.

Going concern

The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises rental income receivable.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the LLP becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the LLP after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the LLP intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

Profits of the LLP are automatically allocated in full to members. Accordingly, the profit attributable to members is charged as an expense in the profit and loss account. During the year, members may receive drawings on account of profits. At the year end, undrawn allocated profits of the LLP are included within loans and other debts due to members. To the extent that any payment of drawings exceeds the amount of profit ultimately to be found to be due to any member, such excess is reclaimable by the LLP and included within debtors.

Capital is repayable to a member on retirement and accordingly, is classified as a liability in the balance sheet.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	6		6

3. Tangible assets

	Investment property		Total
	£		£
Cost
At 06 April 2025	600,516		600,516
At 05 April 2026	600,516		600,516
Accumulated depreciation
At 06 April 2025	0		0
At 05 April 2026	0		0
Net book value
At 05 April 2026	600,516		600,516
At 05 April 2025	600,516		600,516

4. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	29,177		28,245
Other creditors	1,752		1,668
	30,929		29,913

Capital loans and other debts due to members rank pari passu with creditors, in accordance with the members' agreement. There are no restrictions on the members' ability to reduce the amount of members' other interest.

The bank loan is secured by a fixed and floating charge over all assets.

5. Creditors: amounts falling due after more than one year

	2026		2025
	£		£
Bank loans	176,224		206,333

The bank loan is secured by a fixed and floating charge over all assets.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Bank loans (repayable by instalments)	56,181		93,356