Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-31OC386585The principal activity of the LLP is that of property investment.true2022-04-01falseThe principal activity of the LLP is that of property investment.55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC386585 2022-04-01 2023-03-31 OC386585 2021-04-01 2022-03-31 OC386585 2023-03-31 OC386585 2022-03-31 OC386585 c:FurnitureFittings 2022-04-01 2023-03-31 OC386585 c:FurnitureFittings 2023-03-31 OC386585 c:FurnitureFittings 2022-03-31 OC386585 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC386585 c:ComputerEquipment 2022-04-01 2023-03-31 OC386585 c:ComputerEquipment 2023-03-31 OC386585 c:ComputerEquipment 2022-03-31 OC386585 c:ComputerEquipment c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC386585 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 OC386585 c:CurrentFinancialInstruments 2023-03-31 OC386585 c:CurrentFinancialInstruments 2022-03-31 OC386585 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC386585 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC386585 d:FRS102 2022-04-01 2023-03-31 OC386585 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC386585 d:FullAccounts 2022-04-01 2023-03-31 OC386585 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC386585 2 2022-04-01 2023-03-31 OC386585 9 2022-04-01 2023-03-31 OC386585 d:PartnerLLP1 2022-04-01 2023-03-31 OC386585 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC386585 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC386585














SOUTHBANK PROPERTY INVESTMENTS LLP

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 March 2023 

 
SOUTHBANK PROPERTY INVESTMENTS LLP
 

CONTENTS



Page
Balance sheet
 
1 - 2
Reconciliation of members' interests
 
3
Notes to the financial statements
 
4 - 7

 
SOUTHBANK PROPERTY INVESTMENTS LLP
REGISTERED NUMBER:OC386585

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,674
4,099

Current assets
  

Debtors: amounts falling due within one year
 5 
1,825,767
5,741,705

Cash at bank and in hand
 6 
190,992
32,744

  
2,016,759
5,774,449

Creditors: Amounts Falling Due Within One Year
 7 
(403,244)
(360,192)

Net current assets
  
 
 
1,613,515
 
 
5,414,257

Total assets less current liabilities
  
1,616,189
5,418,356

  

Net assets
  
1,616,189
5,418,356


Represented by:
  

Other amounts
 8 
1,616,189
5,418,356

  
1,616,189
5,418,356

  

  
1,616,189
5,418,356


Total members' interests
  

Loans and other debts due to members
 8 
1,616,189
5,418,356

  
1,616,189
5,418,356

1

 
SOUTHBANK PROPERTY INVESTMENTS LLP
REGISTERED NUMBER:OC386585
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 profit and loss account 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 on 13 October 2023.




A Zykov
For and on behalf of Elden Properties Holding (UK) Limited
Designated member

The notes on pages 4 to 7 form part of these financial statements.
2

 
SOUTHBANK PROPERTY INVESTMENTS LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023




EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Revaluation reserve
Other amounts
Total

£
£
£

Members' remuneration charged as an expense
-
5,782,592
5,782,592

Members' interests after profit for the year
 
8,531,812
28,249,825
36,781,637

Movement in reserves
(8,531,812)
-
(8,531,812)

Drawings
-
(22,831,470)
(22,831,470)

Amounts due to members
 

5,418,356


Balance at 31 March 2022
-
5,418,356
5,418,356

Members' remuneration charged as an expense
 
-
17,834
17,834

Members' interests after profit for the year
 
-
5,436,190
5,436,190

Drawings
-
(3,820,000)
(3,820,000)

Amounts due to members
 

1,616,189


Balance at 31 March 2023 
-
1,616,189
1,616,189

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.

3

 
SOUTHBANK PROPERTY INVESTMENTS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Southbank Property Investments LLP is a Limited Liability Partnerhip, registered in England and Wales, registration number OC386585. 
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal place of busines is First Floor, 17 Grosvenor Hill, Mayfair, London W1K 3QB.
The principal activity of the LLP is that of property investment.

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 LLP's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Computer equipment
-
25%

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.

4

 
SOUTHBANK PROPERTY INVESTMENTS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by the 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 the statement of comprehensive income. Where an investment property's fair value cannot be determined or measured without undue cost or effort, the investment property is carried as a tangible fixed asset.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash

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

 
2.8

 Creditors

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

 
2.9

 Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.10

 Discounted security instruments

Discounted security instruments represent a commitment treated as a liability. They are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. The unwinding of the discount is charged to the profit and loss account and included within finance costs.


3.


Employees

The average monthly number of employees, including members, during the year was 5 (2022 - 5).

5

 
SOUTHBANK PROPERTY INVESTMENTS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost 


At 1 April 2022
5,000
699
5,699



At 31 March 2023

5,000
699
5,699



Depreciation


At 1 April 2022
1,250
350
1,600


Charge for the year on owned assets
1,250
175
1,425



At 31 March 2023

2,500
525
3,025



Net book value



At 31 March 2023
2,500
174
2,674



At 31 March 2022
3,750
349
4,099

5.


Debtors

2023
2022
£
£


Other debtors
1,825,767
5,741,704



6.


Cash

2023
2022
£
£

Cash at bank
190,992
32,744

6

 
SOUTHBANK PROPERTY INVESTMENTS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
37,034
132,045

Accruals and deferred income
366,210
228,147

403,244
360,192





8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
1,616,189
5,418,356

1,616,189
5,418,356

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due within one year
1,616,189
5,418,356

1,616,189
5,418,356

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

 
7