Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false02022-04-01falseProperty managementtrue0The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC438141 2022-04-01 2023-03-31 OC438141 2021-06-30 2022-03-31 OC438141 2023-03-31 OC438141 2022-03-31 OC438141 c:CurrentFinancialInstruments 2023-03-31 OC438141 c:CurrentFinancialInstruments 2022-03-31 OC438141 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC438141 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC438141 d:FRS102 2022-04-01 2023-03-31 OC438141 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC438141 d:FullAccounts 2022-04-01 2023-03-31 OC438141 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC438141 2 2022-04-01 2023-03-31 OC438141 d:PartnerLLP1 2022-04-01 2023-03-31 OC438141 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC438141 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC438141 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC438141 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC438141










MANSE (IRVINE PM) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MANSE (IRVINE PM) LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 7


 
MANSE (IRVINE PM) LLP
REGISTERED NUMBER: OC438141

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
440,535
458,886

  
440,535
458,886

Current assets
  

Debtors: amounts falling due within one year
 5 
727
100

Cash at bank and in hand
 6 
1,234
-

  
1,961
100

Creditors: Amounts Falling Due Within One Year
 7 
(2,993)
(2,143)

Net current liabilities
  
 
 
(1,032)
 
 
(2,043)

Total assets less current liabilities
  
439,503
456,843

  

Net assets
  
439,503
456,843


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
401,000
440,000

Other amounts
 8 
38,403
16,743

  
439,403
456,743

Members' other interests
  

Members' capital classified as equity
  
100
100

  
 
100
 
100

  
439,503
456,843


Total members' interests
  

Loans and other debts due to members
 8 
439,403
456,743

Members' other interests
  
100
100

  
439,503
456,843


Page 1

 
MANSE (IRVINE PM) LLP
REGISTERED NUMBER: OC438141
    
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 17 November 2023.




R J S Palmer
Designated member

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
MANSE (IRVINE PM) 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)
Total
Members' capital (classified as debt)
Other amounts
Total
Total

£
£
£
£
£
£

Other division of profits
-
-
-
16,743
16,743
16,743

Amounts introduced by members
100
100
440,000
-
440,000
440,100

Amounts due to members
 


440,000
16,743
456,743


Balance at 31 March 2022
 
100
100
440,000
16,743
456,743
456,843

Result for the year
-
-
-
21,660
21,660
21,660

Repayment of capital
-
-
(39,000)
-
(39,000)
(39,000)

Amounts due to members
 


401,000
38,403
439,403


Balance at 31 March 2023 
100
100
401,000
38,403
439,403
439,503

The notes on pages 4 to 7 form part of these financial statements.

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 PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Manse (Irvine PM) LLP is a limited liability partnership, registered in England and Wales, registration number OC438141. The address of its registered office is Third Floor Queensberry House, 3 Old Burlington Street, 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

Turnover

The entity only recognises its share of the results from the underlying SPV once the financial statements have been approved.

 
2.3

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 stataments be prepared on a going concern basis.

 
2.4

Valuation of investments

Investments in unlisted LLP 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 on the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment

 
2.5

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 PM) 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.


3.


Members

The average number of members during the year was 2 (2022: 2). 

Page 5

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

4.


Fixed asset investments





Investments
Fair value adjustments
Loans to Investments
Current account
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
80
18,886
439,920
-
458,886


Share of profit
-
-
-
18,886
18,886


Repayments
-
-
(44,000)
-
(44,000)


Revaluations
-
6,763
-
-
6,763



At 31 March 2023
80
25,649
395,920
18,886
440,535




Page 6

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

5.


Debtors

2023
2022
£
£


Other debtors
627
-

Called up share capital not paid
100
100

727
100



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,234
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
2,993
2,143



8.


Loans and other debts due to members


2023
2022
£
£



Members' capital treated as debt
401,000
440,000

Other amounts due to members
38,403
16,743

439,403
456,743

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

 
Page 7