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REGISTERED NUMBER: OC311959 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

DCI Property LLP

DCI Property LLP (Registered number: OC311959)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DCI Property LLP

General Information
for the Year Ended 31 March 2023







DESIGNATED MEMBERS: G Chambers
Mrs L J Drain
J Drain
Mrs B Chambers





REGISTERED OFFICE: Warrior Business Centre
Fitzherbert Road
Farlington
Portsmouth
Hampshire
PO6 1TX





REGISTERED NUMBER: OC311959 (England and Wales)





ACCOUNTANTS: Talbot Accounting Solutions LLP
Bartley Cottage
Ringwood Road
Bartley
Southampton
Hampshire
SO40 7LD

DCI Property LLP (Registered number: OC311959)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 118,589 158,119
Investment property 5 1,567,349 1,567,349
1,685,938 1,725,468

CURRENT ASSETS
Debtors 6 5,340 2,740
Cash at bank 15,956 17,819
21,296 20,559
CREDITORS
Amounts falling due within one year 7 43,918 43,554
NET CURRENT LIABILITIES (22,622 ) (22,995 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,663,316

1,702,473

CREDITORS
Amounts falling due after more than one
year

8

115,261

136,461
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,548,055

1,566,012

DCI Property LLP (Registered number: OC311959)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

1,137,929

1,155,886

MEMBERS' OTHER INTERESTS
Capital accounts 410,126 410,126
1,548,055 1,566,012

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 1,137,929 1,155,886
Members' other interests 410,126 410,126
1,548,055 1,566,012

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 14 November 2023 and were signed by:





J Drain - Designated member

DCI Property LLP (Registered number: OC311959)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

DCI Property LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the Statement of Recommended
Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents rents receivable in the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Financial instruments
The limited liability partnership has elected to apply the provisions of Section 11 'Basic Financial
Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial
instruments.

Financial instruments are recognised in the limited liability partnership's statement of financial position
when the limited liability partnership becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

DCI Property LLP (Registered number: OC311959)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the limited liability partnership after deducting all of its liabilities.

Basic financial liabilities, including creditors , bank loans, loans from fellow group companies and
preference shares that are classified as debt, are initially recognised at transaction price unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the limited liability partnership's obligations expire or are
discharged or cancelled.

DCI Property LLP (Registered number: OC311959)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Members' participating interests
Members' participation rights are the rights of a member against the LLP that arise under the m embers' agreement (for example, in respect of amounts subscribed or otherwise contributed remuneration and profits).

Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with section 22 of FRS 102. A member's participation rights including amounts subscribed or otherwise contributed by members, for example members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as 'Loans and other debts due to members' to the extent they exceed debts due from a specific member.

Impairment of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its
tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEE INFORMATION

The average number of employees during the year was 4 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 233,990
DEPRECIATION
At 1 April 2022 75,871
Charge for year 39,530
At 31 March 2023 115,401
NET BOOK VALUE
At 31 March 2023 118,589
At 31 March 2022 158,119

DCI Property LLP (Registered number: OC311959)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,567,349
NET BOOK VALUE
At 31 March 2023 1,567,349
At 31 March 2022 1,567,349

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 5,340 2,740

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 21,200 21,199
Amounts owed to group undertakings 1,862 1,862
Taxation and social security 1,702 1,339
Other creditors 19,154 19,154
43,918 43,554

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Hire purchase contracts 115,261 136,461

Net obligations under finance lease and hire purchase contracts of £159,426 (2020 - £0) are secured by fixed charges on the assets concerned and are included within other creditors falling due in more than one year.

The long-term loans are secured by fixed charges over the investment properties.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.23 31.3.22
£    £   
Amounts owed to members in respect of profits 78,043 69,654
Other 1,059,886 1,086,232
1,137,929 1,155,886

Falling due within one year 78,043 69,654
Falling due after more than one year 1,059,886 1,086,232
1,137,929 1,155,886

In the event of a winding up the amounts in "Loans and other debts due to members" will rank equally with unsecured creditors.