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Registration number: OC435499

Elmsco Property Partnership LLP
Annual Report and Unaudited Financial Statements
for the Year Ended 5 April 2026

Elmsco Property Partnership LLP

Contents

Financial Statements | 1 to 6
Balance Sheet | 1
Notes to the Financial Statements | 3

Elmsco Property Partnership LLP

(Registration number: OC435499)
Balance Sheet as at 5 April 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets | 4 | 26,406 | 32,227
Investment property | 5 | 3,355,000 | 3,450,000
|  | 3,381,406 | 3,482,227
Current assets |  |  |
Debtors | 6 | 213,770 | 169,883
Cash and short-term deposits |  | 13,269 | 1,158
|  | 227,039 | 171,041
Creditors: Amounts falling due within one year | 7 | (301,519) | (312,762)
Net current liabilities |  | (74,480) | (141,721)
Total assets less current liabilities |  | 3,306,926 | 3,340,506
Creditors: Amounts falling due after more than one year | 8 | (220,999) | (220,999)
Net assets attributable to members |  | 3,085,927 | 3,119,507
Represented by: |  |  |
Loans and other debts due to members |  |  |
Members' capital classified as a liability |  | 174,862 | 117,435
Members’ other interests |  |  |
Members' capital classified as equity |  | 2,397,352 | 2,397,352
Other reserves |  | 513,713 | 604,720
|  | 2,911,065 | 3,002,072
|  | 3,085,927 | 3,119,507
Total members' interests |  |  |
Amounts due from members |  | (199,870) | (163,824)
Loans and other debts due to members |  | 174,862 | 117,435
Equity |  | 2,911,065 | 3,002,072
|  | 2,886,057 | 2,955,683

Elmsco Property Partnership LLP

(Registration number: OC435499)
Balance Sheet as at 5 April 2026

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships.

For the year ending 5 April 2026 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime, as applied to limited liability partnerships. As permitted by section 444 (5A) of the Companies Act 2006, the members have not delivered to the registrar a copy of the Profit and Loss Account.

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

Approved and authorised by the members on 6 July 2026 and signed on behalf of the limited liability partnership by:

Mr M L W Hindes Designated member

Elmsco Property Partnership LLP

Notes to the Financial Statements for the Year Ended 5 April 2026

1 | General information

The place of registration of the limited liability partnership is England and Wales.

The address of the registered office is:
87 Byng Road
Barnet
Herts
EN5 4NP

2 | Accounting policies

Basis of preparation

These financial statements were prepared using the historical cost convention and in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Limited Liability Partnership Act 2000.
The presentation currency is sterling.
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the LLP's activities.
The LLP recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the LLP's activities.

Taxation

The taxation payable on the LLP's profits is the personal liability of the members, although payment of such liabilities is administered by the LLP on behalf of its members. Consequently, neither LLP taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets as follows:

Asset class | Depreciation method and rate
Plant and equipment | 25% straight line
Motor vehicles | 18% reducing balance

Elmsco Property Partnership LLP

Notes to the Financial Statements for the Year Ended 5 April 2026

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Cash
Cash comprises cash on hand and all deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the LLP does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the partnership has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Members' interests

Profit shares are allocated on a discretionary basis in accordance with the LLP agreement and are therefore shown as 'profit available for discretionary division among members' in the profit and loss account and within a equity reserve, ‘other reserves', on the balance sheet.
All amounts due to members, including amounts classified as liabilities are presented within “Loans and other debts due to members” in the balance sheet.
The capital requirements of the LLP are determined by the members and are reviewed regularly.
Drawings are treated as a repayment of capital introduced and payments on account of profit allocation. Any drawings in excess of current account balances are set against a member’s capital account in accordance with the LLP agreement.
The Designated Members may at any time determine the profit share to be allocated to a member's current account. Profit shares which have not been allocated in respect of any Accounting Year shall be deemed to be allocated automatically and immediately upon the approval of the accounts.

3 | Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 0 (2025 - 0).

Elmsco Property Partnership LLP

Notes to the Financial Statements for the Year Ended 5 April 2026

4 | Tangible fixed assets

| Plant and equipment £ | Motor vehicles £ | Total £
Cost |  |  |
At 6 April 2025 | 381 | 47,890 | 48,271
At 5 April 2026 | 381 | 47,890 | 48,271
Depreciation |  |  |
At 6 April 2025 | 356 | 15,688 | 16,044
Charge for the year | 25 | 5,796 | 5,821
At 5 April 2026 | 381 | 21,484 | 21,865
Net book value |  |  |
At 5 April 2026 | - | 26,406 | 26,406
At 5 April 2025 | 25 | 32,202 | 32,227

5 | Investment property

| 2026 £ | 2025 £
At 6 April | 3,450,000 | 3,479,000
Fair value adjustments | (95,000) | (29,000)
At 5 April | 3,355,000 | 3,450,000

The properties were valued by the members at their market value using current market data for similar properties in the same areas.

6 | Debtors

| 2026 £ | 2025 £
Other debtors | 209,200 | 163,824
Prepayments | 4,570 | 6,059
| 213,770 | 169,883

Elmsco Property Partnership LLP

Notes to the Financial Statements for the Year Ended 5 April 2026

7 | Creditors: Amounts falling due within one year

| 2026 £ | 2025 £
Bank loans | 290,677 | 290,677
Other creditors | 8,112 | 19,460
Accruals | 2,730 | 2,625
| 301,519 | 312,762

Creditors include bank loans which are secured on the investment properties they relate to in the sum of £290,677 (2025 - £290,677).

8 | Creditors: Amounts falling due after more than one year

| 2026 £ | 2025 £
Bank loans | 220,999 | 220,999
| 220,999 | 220,999

Creditors include bank loans which are secured on the investment properties they relate to in the sum of £220,999 (2025 - £220,999) and of which £nil (2025 - £220,999) are repayable, other than by instalments, after more than five years.