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REGISTERED NUMBER: OC330092 (England and Wales)















Financial Statements For The Year Ended 31 March 2023

for

TWINPLANE (UK) LLP

TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 161,076 171,868
Investment property 5 10,800,000 10,500,000
10,961,076 10,671,868

CURRENT ASSETS
Debtors 6 4,339 5,183
Cash at bank and in hand 344,070 285,571
348,409 290,754
CREDITORS
Amounts falling due within one year 7 656,144 636,280
NET CURRENT LIABILITIES (307,735 ) (345,526 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,653,341

10,326,342

CREDITORS
Amounts falling due after more than one
year

8

4,040,000

2,000,000
NET ASSETS ATTRIBUTABLE TO
MEMBERS

6,613,341

8,326,342

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 6,613,341 8,326,342
6,613,341 8,326,342

TOTAL MEMBERS' INTERESTS
Members' other interests 6,613,341 8,326,342

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.

TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092)

Balance Sheet - continued
31 March 2023


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 10 November 2023 and were signed by:





Mr Sewnarine Sadoo - Designated member

TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Twinplane (UK) LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC330092

Registered office: 5 Bedford Road
Clapham North
London
SW4 7SH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents represents amounts receivable for rent of the properties held less refunds repayable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% Straight Line
Plant and machinery etc - 25% on reducing balance

In accordance with FRSSE, no depreciation is provided in respect of investment properties. This represents a departure from the Companies Act 1985 requirement to provide for the systematic annual depreciation of fixed assets. However these properties are held for investment, rather than consumption, and the partners consider that the adoption of the above policy is necessary to give a true and fair view.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEE INFORMATION

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

TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092)

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

4. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 195,000 94,999 289,999
DEPRECIATION
At 1 April 2022 50,700 67,431 118,131
Charge for year 3,900 6,892 10,792
At 31 March 2023 54,600 74,323 128,923
NET BOOK VALUE
At 31 March 2023 140,400 20,676 161,076
At 31 March 2022 144,300 27,568 171,868

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 10,500,000
Additions 4,298
Revaluations 295,702
At 31 March 2023 10,800,000
NET BOOK VALUE
At 31 March 2023 10,800,000
At 31 March 2022 10,500,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2014 1,763,502
Valuation in 2015 1,300,000
Valuation in 2016 1,100,000
Valuation in 2017 700,000
Valuation in 2018 1,513,363
Valuation in 2020 (950,000 )
Valuation in 2021 (3,175,000 )
Valuation in 2022 2,125,000
Valuation in 2023 295,702
Cost 6,127,433
10,800,000

TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092)

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

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

31/3/23 31/3/22
£    £   
Cost 6,127,433 6,123,135

Investment properties were valued on an open market basis on 31 March 2023 by designated partners .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other debtors 4,339 5,183

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other creditors 656,144 636,280

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 4,040,000 2,000,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,040,000 -