Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01trueOC386148true4The principal activity of the LLP continued to be residential property trading.4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC386148 2022-04-01 2023-03-31 OC386148 2021-04-01 2022-03-31 OC386148 2023-03-31 OC386148 2022-03-31 OC386148 c:CurrentFinancialInstruments 2023-03-31 OC386148 c:CurrentFinancialInstruments 2022-03-31 OC386148 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC386148 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC386148 d:FRS102 2022-04-01 2023-03-31 OC386148 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC386148 d:FullAccounts 2022-04-01 2023-03-31 OC386148 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC386148 2 2022-04-01 2023-03-31 OC386148 d:PartnerLLP1 2022-04-01 2023-03-31 OC386148 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC386148 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure
Registered number: OC386148














ROYALE WHARF PROPERTIES LLP

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
ROYALE WHARF PROPERTIES LLP
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
ROYALE WHARF PROPERTIES LLP
REGISTERED NUMBER:OC386148

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
7,291,079
9,494,731

Debtors: amounts falling due within one year
 5 
17,278
66,524

Cash at bank and in hand
 6 
208,591
27,115

  
7,516,948
9,588,370

Creditors: Amounts Falling Due Within One Year
 7 
(5,690,871)
(7,765,736)

Net current assets
  
 
 
1,826,077
 
 
1,822,634

Total assets less current liabilities
  
1,826,077
1,822,634

  

Net assets
  
1,826,077
1,822,634


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
1,826,077
1,822,634

  
1,826,077
1,822,634

  

  
1,826,077
1,822,634


Total members' interests
  

Loans and other debts due to members
 8 
1,826,077
1,822,634

  
1,826,077
1,822,634

1

 
ROYALE WHARF PROPERTIES LLP
REGISTERED NUMBER:OC386148
    
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 16 October 2023.




A Zykov
For and on behalf of Trinique Worldwide Holding Limited
Designated member

2

 
ROYALE WHARF PROPERTIES LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Royale Wharf Properties LLP is a Limited Liability Partnership registered in England and Wales, registration number OC386148. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal place of the business is First Floor, 17 Grosvenor Hill, Mayfair, London, W1K 3QB. 
The principal activity of the LLP continued to be residential property trading.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Stocks

Stock of properties is valued at the lower of cost and net realisable value. Costs include all direct costs incurred during the purchase of the stock.

 
2.4

Debtors

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

 
2.5

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. 

 
2.6

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and security instruments from related parties.
3

 
ROYALE WHARF PROPERTIES LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

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 discount is charged to the Statement of comprehensive income and is included within finance costs.

 
2.9

 Interest income

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


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Stocks

2023
2022
£
£

Stock of properties
7,291,079
9,494,731



5.


Debtors

2023
2022
£
£


Other debtors
3,317
317

Prepayments and accrued income
13,962
66,208

17,279
66,525



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank
208,591
27,115


4

 
ROYALE WHARF PROPERTIES 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
5,526,159
7,712,996

Accruals and deferred income
164,712
52,740

5,690,871
7,765,736


Included in other creditors above are three (2022 - three) discounted security instruments at a total cost of £5,447,460 (2022 - £7,634,297). The discounted security instruments have the following costs, face values and maturity dates.

Cost
Face value
£
£

Maturity date


22 June 2023
2,698,792
2,801,449

2 August 2023
2,683,284
2,785,387

27 October 2023
65,384
68,547

5,447,460
5,655,383


8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
1,826,077
1,822,634

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

2023
2022
£
£



Falling due within one year
1,826,077
1,822,634

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


9.


Related party transactions

During the year, the LLP issued discounted security instruments at a cost of £5,447,460 (2022 -£7,634,297) to related party (due to common ownership), Universal Metals International Limited.

All of the discounted security instruments are included in creditors falling due within one year. Finance charges totalled a sum of £219,957 (2022 - £204,237) payable on redemption, of which £147,273 (2022 - £43,480) has been accrued and included in other creditors at the balance sheet date.
 
5