Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01false44falseProperty managementtrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC429913 2022-04-01 2023-03-31 OC429913 2021-04-01 2022-03-31 OC429913 2023-03-31 OC429913 2022-03-31 OC429913 c:CurrentFinancialInstruments 2023-03-31 OC429913 c:CurrentFinancialInstruments 2022-03-31 OC429913 c:Non-currentFinancialInstruments 2023-03-31 OC429913 c:Non-currentFinancialInstruments 2022-03-31 OC429913 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC429913 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC429913 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC429913 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC429913 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC429913 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 OC429913 d:FRS102 2022-04-01 2023-03-31 OC429913 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC429913 d:FullAccounts 2022-04-01 2023-03-31 OC429913 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC429913 6 2022-04-01 2023-03-31 OC429913 d:PartnerLLP1 2022-04-01 2023-03-31 OC429913 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC429913 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC429913 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC429913 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC429913










PACKAGED LIVING (NEWCASTLE PM) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PACKAGED LIVING (NEWCASTLE PM) LLP
 

CONTENTS



Page
Balance Sheet
1 - 2
Reconciliation of Members' Interests
3
Notes to the Financial Statements
4 - 8


 
PACKAGED LIVING (NEWCASTLE PM) LLP
REGISTERED NUMBER: OC429913

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
103,626
160,915

  
103,626
160,915

Current assets
  

Debtors: amounts falling due within one year
 5 
627
-

Cash at bank and in hand
 6 
44,698
125,789

  
45,325
125,789

Creditors: Amounts Falling Due Within One Year
 7 
(20,061)
(131,418)

Net current assets/(liabilities)
  
 
 
25,264
 
 
(5,629)

Total assets less current liabilities
  
128,890
155,286

Creditors: amounts falling due after more than one year
 8 
(1,181,792)
(1,016,722)

  
(1,052,902)
(861,436)

  

Net liabilities
  
(1,052,902)
(861,436)


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
229,401
209,400

Other amounts
 10 
(1,282,403)
(1,070,936)

  
(1,053,002)
(861,536)

Members' other interests
  

Members' capital classified as equity

  

100
100

  
 
(1,052,902)
 
(861,436)


Total members' interests
  

Loans and other debts due to members
 10 
(1,053,002)
(861,536)

Members' other interests
  
100
100

  
(1,052,902)
(861,436)


Page 1

 
PACKAGED LIVING (NEWCASTLE PM) LLP
REGISTERED NUMBER: OC429913
    
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 27 November 2023.




R J S Palmer on behalf of Fiera Real Estate UK Limited
Designated member

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
PACKAGED LIVING (NEWCASTLE 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

£
£
£
£
£
£

Members' remuneration charged as an expense
 
-
-
-
(427,645)
(427,645)
(427,645)

Members' interests after profit for the year
100
100
187,400
(1,070,936)
(883,536)
(883,436)

Amounts introduced by members
-
-
22,000
-
22,000
22,000

Amounts due to members
 


209,400
(1,070,936)
(861,536)


Balance at 31 March 2022
 
100
100
209,400
(1,070,936)
(861,536)
(861,436)

Members' remuneration charged as an expense
-
-
-
(211,467)
(211,467)
(211,467)

Members' interests after profit for the year
 
100
100
209,400
(1,282,403)
(1,073,003)
(1,072,903)

Amounts introduced by members
-
-
20,001
-
20,001
20,001

Amounts due to members
 


229,401
(1,282,403)
(1,053,002)


Balance at 31 March 2023 
100
100
229,401
(1,282,403)
(1,053,002)
(1,052,902)

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

 
PACKAGED LIVING (NEWCASTLE PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Packaged Living (Newcastle PM) LLP is a limited liability partnership, registered in England and Wales under registration number OC429913. The address of the 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 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

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.

 
2.3

Turnover

Turnover represents share of partnership results, upon realisation of the profit or loss in the partnership.


 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Valuation of investments

The valuation of the investment in the SPV is based on the entity’s entitlement to the proportion of the net assets of the SPV after adjusting for the fair value of the stock held. 

 
2.6

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.

 
2.7

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

 
PACKAGED LIVING (NEWCASTLE PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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
Page 5

 
PACKAGED LIVING (NEWCASTLE PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.


Employees

The average number of employees during the year was 4 (2022: 4)



4.


Fixed asset investments





Investments
Loans to investments
Share of result
Total

£
£
£
£



Cost or valuation


At 1 April 2022
2
1,047,499
(886,586)
160,915


Additions
-
65,867
-
65,867


Share of profit/(loss)
-
-
(123,156)
(123,156)



At 31 March 2023
2
1,113,366
(1,009,742)
103,626





5.


Debtors

2023
2022
£
£


Other debtors
627
-


Page 6

 
PACKAGED LIVING (NEWCASTLE PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
44,698
125,789



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,763
-

Other creditors
13,162
128,383

Accruals and deferred income
3,136
3,035

20,061
131,418



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
1,181,792
1,016,722



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due 1-2 years

Other loans
1,181,792
1,016,722


Page 7

 
PACKAGED LIVING (NEWCASTLE PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans and other debts due to members


2023
2022
£
£



Members' capital treated as debt
229,401
209,400

Other amounts due from members
(1,282,403)
(1,070,936)

(1,053,002)
(861,536)

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

 
Page 8