REGISTERED NUMBER: OC396762 (England and Wales)

REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

PANORAMA PROPERTY INVESTMENTS LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

J Agace

N Timberlake

E Jones

REGISTERED OFFICE:

The Offices

19-21 West Street

Haslemere

GU27 2AB

REGISTERED NUMBER:

OC396762 (England and Wales)

ACCOUNTANTS:

Traviss & Co Ltd

Chartered Certified Accountants

Newtown House

38 Newtown Road

Liphook

Hampshire

GU30 7DX

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

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of property investments and hotel accommodation

DESIGNATED MEMBERS

The designated members during the year under review were;

J Agace

N Timberlake

E Jones

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £1,010,586 this is made up of £263,289 from normal trading activities and £747,297 accounting profit from the sale of Chiltern Street. (2025 - £227,784)

MEMBERS' INTERESTS

Each members subscription to the capital of the LLP is determined by their share of the profit and is repayable following retirement from the LLP.

Members are remunerated from the profits of the LLP and are required to make their own provision for pensions and other benefits. Profits are allocated and divided between members after finalisation of the financial statements. Members draw a proportion of their profit shares monthly during the year in which it is made, with the balance of profits being distributed after the year, subject to the cash requirements of the business.

The designated members keep details for each members profit share, current account balances and loans to members, for the purposes of the accounts these have been shown as the totals only.

ON BEHALF OF THE MEMBERS:

N Timberlake - Designated member

31 October 2026

TURNOVER

1,166,515

1,189,286

Cost of sales

489,969

495,503

GROSS PROFIT

676,546

693,783

Administrative expenses

(736,657

)

9,472

OPERATING PROFIT

4

1,413,203

684,311

Interest payable and similar expenses

402,617

456,527

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

1,010,586

227,784

FIXED ASSETS

Tangible assets

5

5,633,671

8,039,152

Investment property

6

5,077,030

6,050,000

10,710,701

14,089,152

CURRENT ASSETS

Debtors

7

110,450

825,103

Cash at bank

1,182,205

133,077

1,292,655

958,180

CREDITORS

Amounts falling due within one year

8

110,647

130,575

NET CURRENT ASSETS

1,182,008

827,605

TOTAL ASSETS LESS CURRENT LIABILITIES

11,892,709

14,916,757

CREDITORS

Amounts falling due after more than one year

9

3,760,000

6,116,875

NET ASSETS ATTRIBUTABLE TO MEMBERS

8,132,709

8,799,882

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

536,059

-

MEMBERS' OTHER INTERESTS

Capital accounts

7,596,650

7,826,912

Revaluation reserve

11

-

972,970

8,132,709

8,799,882

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

536,059

-

Members' other interests

7,596,650

8,799,882

Amounts due from members

7

-

(633,072

)

8,132,709

8,166,810

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 31 October 2026 and were signed by:

N Timberlake - Designated member

1.	STATUTORY INFORMATION

Panorama Property Investments 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.

Turnover

Turnover represents rent receivable.

If, at the balance sheet date, completion of contractual obligations is dependent on external factors (and thus outside the control of the LLP), then revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

Tangible fixed assets

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

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

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.

Investment property is carried at fair value determined annually by the designated members and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

The designated members have considered any change to the valuation from that in the previous year and consider that the property has fallen in value and the original cost is the fair value £5,077,030 (2025 - £6,050,000).

3.	EMPLOYEE INFORMATION

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

4.	OPERATING PROFIT

The operating profit is stated after charging:

2026

2025

£

£

Depreciation - owned assets

84,426

109,651

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 April 2025

8,663,133

279,526

20,814

8,963,473

Disposals

(2,522,886

)

(64,247

)

-

(2,587,133

)

At 31 March 2026

6,140,247

215,279

20,814

6,376,340

DEPRECIATION

At 1 April 2025

693,052

210,455

20,814

924,321

Charge for year

61,403

23,023

-

84,426

Eliminated on disposal

(201,831

)

(64,247

)

-

(266,078

)

At 31 March 2026

552,624

169,231

20,814

742,669

NET BOOK VALUE

At 31 March 2026

5,587,623

46,048

-

5,633,671

At 31 March 2025

7,970,081

69,071

-

8,039,152

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

6,050,000

Revaluations

(972,970

)

At 31 March 2026

5,077,030

NET BOOK VALUE

At 31 March 2026

5,077,030

At 31 March 2025

6,050,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2025

6,050,000

Valuation in 2026

(972,970

)

5,077,030

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

61,227

110,961

Other debtors

49,223

714,142

110,450

825,103

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

31,437

10,345

Taxation and social security

1,958

6,758

Other creditors

77,252

113,472

110,647

130,575

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans

3,760,000

6,116,875

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

11.

RESERVES

Revaluation

reserve

£

At 1 April 2025

972,970

Revaluation in year

(972,970

)

At 31 March 2026

-