2021-09-03 2022-03-31 false No description of principal activity Capium Accounts Production 1.1 OC438996 bus:AbridgedAccounts 2021-09-03 2022-03-31 OC438996 bus:FRS102 2021-09-03 2022-03-31 OC438996 bus:AuditExemptWithAccountantsReport 2021-09-03 2022-03-31 OC438996 bus:SmallCompaniesRegimeForAccounts 2021-09-03 2022-03-31 OC438996 bus:LimitedLiabilityPartnershipLLP 2021-09-03 2022-03-31 OC438996 2021-09-03 2022-03-31 OC438996 2022-03-31 OC438996 bus:RegisteredOffice 2021-09-03 2022-03-31 OC438996 core:WithinOneYear 2022-03-31 OC438996 core:AfterOneYear 2022-03-31 OC438996 bus:PartnerLLP1 2021-09-03 2022-03-31 OC438996 bus:PartnerLLP1 2022-03-31 OC438996 bus:PartnerLLP2 2021-09-03 2022-03-31 OC438996 bus:PartnerLLP2 2022-03-31 OC438996 2020-09-03 OC438996 bus:CompanySecretary1 2021-09-03 2022-03-31 OC438996 bus:LeadAgentIfApplicable 2021-09-03 2022-03-31 OC438996 2021-09-02 OC438996 core:LandBuildings 2021-09-03 2022-03-31 OC438996 core:LandBuildings 2022-03-31 OC438996 core:LandBuildings 2021-09-02 OC438996 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-03-31 OC438996 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2021-09-02 OC438996 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 OC438996 core:CostValuation core:Non-currentFinancialInstruments 2021-09-02 OC438996 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-03-31 OC438996 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2022-03-31 OC438996 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2022-03-31 OC438996 core:Non-currentFinancialInstruments 2022-03-31 OC438996 core:Non-currentFinancialInstruments 2021-09-02 OC438996 dpl:Item1 2021-09-03 OC438996 dpl:Item1 2022-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: OC438996
England and Wales

 

 

 

TLM FELTHAM LLP


Abridged Accounts
 


Period of accounts

Start date: 03 September 2021

End date: 31 March 2022
Accountant's report to the Members on the preparation of the unaudited statutory accounts of TLM FELTHAM LLP for the period ended 31 March 2022


Report to the Members on the preparation of the unaudited statutory accounts  for the period ended 31 March 2022.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts for the period which comprise of the Income Statement, the Statement of Financial Position, and the related notes from the accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://www.ifa.org.uk/about-us/acting-in-thepublic-interest/memberregulations.

This report is made solely to the Members, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts and state those matters that we have agreed to state to the Members, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Partnership and its Members as a body for our work or for this report.

It is your duty to ensure that the Partnership has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss. You consider that the Partnership is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.




....................................................
66 PAH
8 Hill Street
London
W1J 5NG
01 August 2022
1
 
 
Notes
 
2022
£
Fixed assets    
Tangible fixed assets 20,036,684 
20,036,684 
Current assets    
Debtors 93,642 
Cash at bank and in hand 605,604 
699,246 
Creditors: amount falling due within one year (673,241)
Net current assets 26,005 
 
Total assets less current liabilities 20,062,689 
Creditors: amount falling due after more than one year (10,360,815)
Accruals and deferred income (198,537)
Net assets 9,503,337 
 

Represented by:
Loans and other debts due to members 3 9,390,940 
Members' other interest
Members' capital 10,000 
Other reserves 102,397 
112,397 

9,503,337 
 

Total members' interests
Loans and other debts due to members 9,390,940 
Members' other interests 112,397 
9,503,337 
 


For the period ending 31 March 2022 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006.


The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006 (as applied to LLPs).

These accounts were approved by the members and signed on their behalf by:


.............................................................................

Designated Member
Date approved by the members: 01 August 2022
2
General Information
TLM FELTHAM LLP is a limited liability partnership, registered in England and Wales, registration number OC438996, registration address 22 Gilbert Street, London, W1K 5EJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
As at the date of signing these accounts, the partnership has not been impacted by the effects of the COVID-19 pandemic. Due to the current and forecasted high demand for light industrial unit, the Members do not expect to be significantly impacted in the near future, however the Members have made plans to carry higher reserves than usual.
Accounting period
The Financial Statements are presented for the period from 3rd September 2021 to 31st March 2022, therefore less than 12 months. 
Because this is the first accounting period, there is no comparable available.
Turnover
Turnover represents the amounts receivable for property rental services. Turnover is recognised in the period to which the properties are rented, and is shown net of VAT.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Judgements and key sources of estimation uncertainty
In the application of the limited liability partnerships accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of Investment Property
The investment property is shown in the accounts at cost which is considered to be its fair value. This value is determined to be the value that could be achieved if the property was sold at the period end. The valuation has been determined by the members based on their knowledge of the industry and all the information available to them at the time.
Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 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.


Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.


Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the
present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised.
The impairment reversal is recognised in profit or loss.


Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third 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 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A mounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.


Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.
Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance
evaluated on a fair value basis in accordance with a documented risk management or investment strategy.


Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership s obligations expire or are discharged or cancelled.
2.

Average number of employees

Average number of employees during the period was 0.
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 03 September 2021  
Additions 20,036,684    20,036,684 
Disposals  
At 31 March 2022 20,036,684    20,036,684 
Depreciation
At 03 September 2021  
Charge for period  
On disposals  
At 31 March 2022  
Net book values
Closing balance as at 31 March 2022 20,036,684    20,036,684 
Opening balance as at 03 September 2021  


4.

Members' Interests

Members' capital   Other reserves   Total   Loans and other debts due to members less any amounts due from members included in debtors   Total
Profit for the period available for discretionary division among members   102,397    102,397      102,397 
Members' interests after profit for the period   102,397    102,397      102,397 
Introduced by members 10,000      10,000    9,390,940    9,400,940 
Balance at 31 March 2022 10,000    102,397    112,397    9,390,940    9,503,337 
 



3