Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01truetruefalseNo description of principal activity55The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC421094 2022-04-01 2023-03-31 OC421094 2021-04-01 2022-03-31 OC421094 2023-03-31 OC421094 2022-03-31 OC421094 c:CurrentFinancialInstruments 2023-03-31 OC421094 c:CurrentFinancialInstruments 2022-03-31 OC421094 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC421094 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC421094 d:FRS102 2022-04-01 2023-03-31 OC421094 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC421094 d:FullAccounts 2022-04-01 2023-03-31 OC421094 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC421094 6 2022-04-01 2023-03-31 OC421094 d:PartnerLLP2 2022-04-01 2023-03-31 OC421094 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC421094 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC421094 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC421094 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC421094









FPC INDUSTRY & ENTERPRISE 3 LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
FPC INDUSTRY & ENTERPRISE 3 LLP
REGISTERED NUMBER: OC421094

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
2,882,421
2,170,565

  
2,882,421
2,170,565

Current assets
  

Debtors: amounts falling due within one year
 5 
8,126
7,976

Cash at bank and in hand
 6 
416
416

  
8,542
8,392

Creditors: Amounts Falling Due Within One Year
 7 
(8,400)
(8,250)

Net current assets
  
 
 
142
 
 
142

Total assets less current liabilities
  
2,882,563
2,170,707

  

Net assets
  
2,882,563
2,170,707


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
200
200

Other reserves classified as equity

  

2,882,363
2,170,507

  
 
2,882,563
 
2,170,707

  
2,882,563
2,170,707


Total members' interests
  

Members' other interests
  
2,882,563
2,170,707

  
2,882,563
2,170,707


Page 1

 
FPC INDUSTRY & ENTERPRISE 3 LLP
REGISTERED NUMBER: OC421094
    
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 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: 




B Lansman
Designated member

Date: 7 November 2023

The notes on pages 3 to 6 form part of these financial statements.

FPC Industry & Enterprise 3 LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
FPC INDUSTRY & ENTERPRISE 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

FPC Industry & Enterprise 3 LLP is a limited liability partnership incorporated in England and Wales (registered number: OC421094). 
The registered off is 101 New Cavendish Street, 1st Floor South, London, United Kingdom W1W 6XH, and the principal place of business address is 14-16 Great Pulteney Street, London, W1F 9ND. 
The principal activity of the of the LLP during the year continued to be that of property investment. 
The financial statements are presented in Sterling, which is the functional currency of the LLP. 

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 following principal accounting policies have been applied:

 
2.2

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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.

Page 3

 
FPC INDUSTRY & ENTERPRISE 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

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.

 
2.5

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

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.

 
2.7

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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 directors, during the year was 5 (2022 - 5).

Page 4

 
FPC INDUSTRY & ENTERPRISE 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
2,170,565


Revaluations
711,856



At 31 March 2023
2,882,421





5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
8,126
7,976

8,126
7,976



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
416
416

416
416



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
8,400
8,250

8,400
8,250


Page 5

 
FPC INDUSTRY & ENTERPRISE 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Related party transactions

Included within debtors is £8,126 (2022: £7,976) due from related parties. 


9.


Controlling party

The immediate parent entity is FPC Electric Land Limited, a limited company incorporated in England and Wales (registered number: 09542958).
The ultimate parent company is FPC Income & Growth PLC, a public company limited by shares incorporated in England and Wales (registered number: 11494690).
The registered office address for both entities is 101 New Cavendish Street, 1st Floor South, London, United Kingdom W1W 6XH.

 
Page 6