Company No: OC316773 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	0		50,778
Investment property	4	818,571		818,571
		818,571		869,349
Current assets
Debtors	5	143,536		133,947
Cash at bank and in hand		208,236		138,981
		351,772		272,928
Creditors: amounts falling due within one year	6	( 65,910)		( 77,345)
Net current assets		285,862		195,583
Total assets less current liabilities		1,104,433		1,064,932
Net assets attributable to members		1,104,433		1,064,932
Represented by
Loans and other debts due to members within one year
Members' capital classified as a liability		845,432		845,432
Other amounts		259,001		219,500
		1,104,433		1,064,932
Total members' interests
Loans and other debts due to members		1,104,433		1,064,932
		1,104,433		1,064,932

For the financial year ending 31 March 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.

Symonds Property Management LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

The financial statements of Symonds Property Management LLP (registered number: OC316773) were approved and authorised for issue by the members on 03 November 2026. They were signed on its behalf by:

Mr J P Symonds 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 period, unless otherwise stated.

General information and basis of accounting

Symonds Property Management 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 3rd Floor Maltravers House, Petters Way, Yeovil, BA20 1SQ, 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 May 2024 (SORP 2024).

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

Reporting period length

The prior year accounts were prepared for a 15 month period to allow the accounting period to align with the tax year end under the basis period reform. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Turnover

Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax, under contractual obligations which are performed gradually over time. Rent receivable from the LLP's investment property is also recognised in turnover.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the LLP is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Retirement benefits and post retirement payments to members

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	5 years straight line
Vehicles	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The LLP as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the LLP transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the LLP, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).

Members’ participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Profit and Loss Account within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the LLP during the year	2		2

3. Tangible assets

	Leasehold improve- ments		Vehicles		Total
	£		£		£
Cost
At 01 April 2025	34,172		149,085		183,257
Disposals	0		( 64,825)		( 64,825)
At 31 March 2026	34,172		84,260		118,432
Accumulated depreciation
At 01 April 2025	34,172		98,307		132,479
Charge for the financial year	0		37,287		37,287
Disposals	0		( 51,334)		( 51,334)
At 31 March 2026	34,172		84,260		118,432
Net book value
At 31 March 2026	0		0		0
At 31 March 2025	0		50,778		50,778

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2025	818,571
As at 31 March 2026	818,571

A valuation was performed on the investment properties held at the time on 9 February 2011 by DTZ Limited and GVA Grimley Limited, who are both independent qualified valuers, on an open market basis. No depreciation is provided in respect of these properties. The members are of the opinion that the carrying value remains an appropriate reflection of market value at the balance sheet date.

5. Debtors

	2026		2025
	£		£
Trade debtors	61,827		51,203
Other debtors	81,709		82,744
	143,536		133,947

6. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	10,538		5,345
Other taxation and social security	24,063		12,770
Other creditors	31,309		59,230
	65,910		77,345

7. Member's interests

Included within loans and other debt due to members within one year is £100 of capital that has been contributed by Mr J P Symonds.

8. Loans and Other Debts Due To Members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.