Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC376638 2022-01-01 2022-12-31 OC376638 2021-01-01 2021-12-31 OC376638 2022-12-31 OC376638 2021-12-31 OC376638 c:Buildings 2022-01-01 2022-12-31 OC376638 c:Buildings 2022-12-31 OC376638 c:Buildings 2021-12-31 OC376638 c:Buildings c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 OC376638 c:Buildings c:LongLeaseholdAssets 2022-01-01 2022-12-31 OC376638 c:PlantMachinery 2022-01-01 2022-12-31 OC376638 c:PlantMachinery 2022-12-31 OC376638 c:PlantMachinery 2021-12-31 OC376638 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 OC376638 c:FurnitureFittings 2022-01-01 2022-12-31 OC376638 c:FurnitureFittings 2022-12-31 OC376638 c:FurnitureFittings 2021-12-31 OC376638 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 OC376638 c:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 OC376638 c:CurrentFinancialInstruments 2022-12-31 OC376638 c:CurrentFinancialInstruments 2021-12-31 OC376638 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC376638 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 OC376638 d:FRS102 2022-01-01 2022-12-31 OC376638 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 OC376638 d:FullAccounts 2022-01-01 2022-12-31 OC376638 d:LimitedLiabilityPartnershipLLP 2022-01-01 2022-12-31 OC376638 d:PartnerLLP1 2022-01-01 2022-12-31 OC376638 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 OC376638 c:OtherCapitalInstrumentsClassifiedAsEquity 2021-12-31 OC376638 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC376638 c:FurtherSpecificReserve2ComponentTotalEquity 2021-12-31 iso4217:GBP xbrli:pure

OC376638







TELHAM GATES LLP (FORMERLY KNOWN AS TELHAM ESTATES LLP)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2022































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TELHAM GATES LLP
REGISTERED NUMBER:OC376638

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible fixed assets
  
923,271
928,980

Current assets
  

Stocks
 5 
726,651
724,039

Debtors: amounts falling due within one year
 6 
7,436
3,799

Bank and cash balances
  
4,826
4,077

  
738,913
731,915

Creditors: Amounts Falling Due Within One Year
 7 
(26,857)
(14,130)

Net current assets
  
 
 
712,056
 
 
717,785

Total assets less current liabilities
  
1,635,327
1,646,765

  

Net assets
  
1,635,327
1,646,765


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
561,300
561,300

Members' other interests
  

LLP member capital - balances b/fwd
  
1,350,000
1,350,000

Other reserves classified as equity

  

(275,973)
(264,535)

  
 
1,074,027
 
1,085,465

  
1,635,327
1,646,765


Total members' interests
  

Loans and other debts due to members
  
561,300
561,300

Members' other interests
  
1,074,027
1,085,465

  
1,635,327
1,646,765


Page 1

TELHAM GATES LLP
REGISTERED NUMBER:OC376638
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity 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.

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.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




C R Simmons
Designated member

Date: 26 September 2023


The notes on pages 4 to 7 form part of these financial statements.

Page 2

TELHAM GATES LLP

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 DECEMBER 2022






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total

£
£
£
£
£

Amounts due to members 
523,075


Amounts due from members 

-


Balance at 1 January 2021 
1,350,000
(231,652)
1,118,348
523,075
1,641,423

Loss for the year available for discretionary division among members
 
-
(32,883)
(32,883)
-
(32,883)

Members' interests after profit for the year
1,350,000
(264,535)
1,085,465
523,075
1,608,540

Amounts introduced by members
-
-
-
38,225
38,225

Amounts due to members
561,300

Balance at 31 December 2021
1,350,000
(264,535)
1,085,465
561,300
1,646,765

Loss for the year available for discretionary division among members
 
-
(11,438)
(11,438)
-
(11,438)

Amounts due to members
561,300

Balance at 31 December 2022 
1,350,000
(275,973)
1,074,027
561,300
1,635,327

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

TELHAM GATES LLP
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Telham Estates LLP is a limited liability partnership domiciled and incorporated in England and Wales.
The address of its principal place of business is Crowhurst Park, Telham Lane, Battle, East Sussex, TN33 0SL.
The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The LLP has met, and continues to meet, its working capital requirements through the support of the designated members.
The designated members have pledged their ongoing support for the business and it is therefore considered appropriate to prepare the financial statements on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue is recognised by the LLP in respect of ground rents, utilities and service charges receivable during the year.
Income received from the sale of 125 year leases is recognised on completion of the lease.

Page 4

TELHAM GATES LLP
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense' where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, SELECT OR ENTER METHOD.

Depreciation is provided on the following basis:

Freehold land
-
Not depreciated
Show home
-
125 years straight line
Plant and machinery
-
25% straight line
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

TELHAM GATES LLP
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including members, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2022
930,452
34,200
38,016
1,002,668



At 31 December 2022

930,452
34,200
38,016
1,002,668



Depreciation


At 1 January 2022
14,251
27,224
32,212
73,687


Charge for the year on owned assets
2,515
1,744
1,451
5,710



At 31 December 2022

16,766
28,968
33,663
79,397



Net book value



At 31 December 2022
913,686
5,232
4,353
923,271



At 31 December 2021
916,201
6,976
5,804
928,981

Freehold property comprises land introduced into the partnership by the designated members at market value and subsequent enhancement expenditure and show home construction costs. No depreciation is provided in respect of land at cost of £616,093.

Page 6

TELHAM GATES LLP
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Stocks

2022
2021
£
£

Land
726,651
724,039



6.


Debtors

2022
2021
£
£


Trade debtors
2,402
1,194

Prepayments
5,034
2,605

7,436
3,799



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
3,078
3,379

Other taxation and social security
7,146
7,001

Other creditors
12,508
-

Accruals
4,125
3,750

26,857
14,130



8.


Contingent liabilities

A charge is held over the land held as stock which is dated 12 January 2022.  This is in relation to a bank loan held by a connected company.  

 
Page 7