Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-310false0Property managementfalse2022-04-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC438473 2022-04-01 2023-03-31 OC438473 2021-04-01 2022-03-31 OC438473 2023-03-31 OC438473 2022-03-31 OC438473 c:CurrentFinancialInstruments 2023-03-31 OC438473 c:CurrentFinancialInstruments 2022-03-31 OC438473 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC438473 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC438473 d:FRS102 2022-04-01 2023-03-31 OC438473 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC438473 d:FullAccounts 2022-04-01 2023-03-31 OC438473 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC438473 d:PartnerLLP15 2022-04-01 2023-03-31 OC438473 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC438473 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC438473 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC438473 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC438473 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC438473 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC438473










MANSE (IRVINE) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MANSE (IRVINE) LLP
 

CONTENTS



Page
Balance Sheet
1 - 2
Reconciliation of Members' Interests
3
Notes to the Financial Statements
4 - 6


 
MANSE (IRVINE) LLP
REGISTERED NUMBER: OC438473

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
2,126,597
2,080,517

Debtors: amounts falling due within one year
 3 
59,407
35,620

Cash at bank and in hand
 4 
93,262
250,296

  
2,279,266
2,366,433

Creditors: Amounts Falling Due Within One Year
 5 
(76,589)
(72,003)

Net current assets
  
 
 
2,202,677
 
 
2,294,430

Total assets less current liabilities
  
2,202,677
2,294,430

  

Net assets
  
2,202,677
2,294,430


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
2,074,330
2,199,900

  
2,074,330
2,199,900

Members' other interests
  

Members' capital classified as equity
  
100
100

Other reserves classified as equity
  
128,247
94,430

  
 
128,347
 
94,530

  
2,202,677
2,294,430


Total members' interests
  

Loans and other debts due to members
  
2,074,330
2,199,900

Members' other interests
  
128,347
94,530

  
2,202,677
2,294,430


Page 1

 
MANSE (IRVINE) LLP
REGISTERED NUMBER: OC438473
    
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 on 9 November 2023.




................................................
R J S Palmer
On behalf of Manse (Irvine PM) LLP
Designated member

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
MANSE (IRVINE) 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
Members' capital (classified as equity)
Other reserves
Total
Members' capital (classified as debt)
Total
Total

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
-
94,430
94,430
-
-
94,430

Members' interests after profit for the year
-
94,430
94,430
-
-
94,430

Amounts introduced by members
100
-
100
2,199,900
2,199,900
2,200,000

Amounts due to members
2,199,900
2,199,900

Balance at 31 March 2022
100
94,430
94,530
2,199,900
2,199,900
2,294,430

Profit for the year available for discretionary division among members
 
-
128,247
128,247
-
-
128,247

Members' interests after profit for the year
100
222,677
222,777
2,199,900
2,199,900
2,422,677

Other division of profits
-
(94,430)
(94,430)
94,430
94,430
-

Amounts distributed to members
-
-
-
(220,000)
(220,000)
(220,000)

Amounts due to members
2,074,330
2,074,330

Balance at 31 March 2023 
100
128,247
128,347
2,074,330
2,074,330
2,202,677

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

 
MANSE (IRVINE) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Manse (Irvine) LLP is a Limited Liability Partnership, registered in England and Wales, registration number OC438473. the address of its registered office is Third Floor Queensberry House, 3 Old Burlington Street, London, W1S 3AE.

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

Other operating income

Rental income from operating leases is recognised as other operating income in the Statement of Comprehensive Income on a straight line basis over the period of the lease.
Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor’s benefit from the leased asset is diminished.

  
2.3

Stock

Stock is valued at the lower of cost and net realisable value. Cost of sales comprises direct costs only. Net realisable value is estimated selling price less the estimated costs necessary to make the sale.

 
2.4

Going concern

The LLP is currently reliant on its members for financial support. The members are committed to the sustainment of the LLP and its property management activities, and are confident that the LLP has the resources to continue operating for at least 12 months from the date the financial statements are authorised. The members have concluded that it is appropriate that the financial statements be prepared on a going concern basis.

 
2.5

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.

 
2.6

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.

Page 4

 
MANSE (IRVINE) 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. 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.

 
2.8

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

  
2.9

Net profit/loss

The profits or losses of the LLP are only allocated to the members once the accounts have been approved. The results for the year are not automatically allocated to members.

Page 5

 
MANSE (IRVINE) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Debtors

2023
2022
£
£


Other debtors
19,149
1,662

Prepayments and accrued income
40,258
33,958

59,407
35,620



4.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
93,262
250,296



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,600
6,240

Accruals and deferred income
72,989
65,763

76,589
72,003


 
Page 6