Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01falseNo description of principal activity33false OC328330 2022-06-01 2023-05-31 OC328330 2021-06-01 2022-05-31 OC328330 2023-05-31 OC328330 2022-05-31 OC328330 c:CurrentFinancialInstruments 2023-05-31 OC328330 c:CurrentFinancialInstruments 2022-05-31 OC328330 c:Non-currentFinancialInstruments 2023-05-31 OC328330 c:Non-currentFinancialInstruments 2022-05-31 OC328330 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 OC328330 c:CurrentFinancialInstruments c:WithinOneYear 2022-05-31 OC328330 c:Non-currentFinancialInstruments c:AfterOneYear 2023-05-31 OC328330 c:Non-currentFinancialInstruments c:AfterOneYear 2022-05-31 OC328330 d:FRS102 2022-06-01 2023-05-31 OC328330 d:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 OC328330 d:FullAccounts 2022-06-01 2023-05-31 OC328330 d:LimitedLiabilityPartnershipLLP 2022-06-01 2023-05-31 OC328330 d:PartnerLLP1 2022-06-01 2023-05-31 OC328330 c:FurtherSpecificReserve2ComponentTotalEquity 2023-05-31 OC328330 c:FurtherSpecificReserve2ComponentTotalEquity 2022-05-31 OC328330 c:FurtherSpecificReserve3ComponentTotalEquity 2023-05-31 OC328330 c:FurtherSpecificReserve3ComponentTotalEquity 2022-05-31 iso4217:GBP xbrli:pure

Registered number: OC328330









AAIM TURBO LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
AAIM TURBO LLP
REGISTERED NUMBER: OC328330

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

  

  

Creditors: amounts falling due within one year
 5 
(101)
(101)

Total assets less current liabilities
  
 
 
(101)
 
 
(101)

Creditors: amounts falling due after more than one year
 6 
(75,495,094)
(70,428,985)

  

Net liabilities
  
(75,495,195)
(70,429,086)


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
100
100

Other amounts
 7 
(70,379,274)
(65,656,475)

  
(70,379,174)
(65,656,375)

Members' other interests
  

Other reserves classified as equity
  
(5,116,021)
(4,772,711)

  
(75,495,195)
(70,429,086)


Total members' interests
  

Loans and other debts due to members
 7 
(70,379,174)
(65,656,375)

Members' other interests
  
(5,116,021)
(4,772,711)

  
(75,495,195)
(70,429,086)


Page 1

 
AAIM TURBO LLP
REGISTERED NUMBER: OC328330
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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.





D Maxwell for and on behalf of
DPK Property Holdings Limited
Designated member

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
AAIM TURBO LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

AAIM Turbo LLP ("the LLP") is a limited liability partnership, incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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

Loan notes

Loan notes issued to members are shown as members interests, whilst loan notes held by non-members are classed as debt and included in creditors. Interest is accrued at 7% per annum and calculated every three months and added to the principal loan note outstanding in accordance with the loan note deed.

  
2.3

Capital contributions

Capital contributions by the members are repayable on the member leaving the LLP and as such fall to be treated as debt rather than equity.

 
2.4

Going concern

In determining the basis of preparation of the financial statements, the members have considered whether the LLP can continue in operational existence for the foreseeable future.
At the balance sheet date the LLP had net liabilities of £75.495 million, made up largely of outstanding loan notes issued by the LLP.
Under the terms of the loan note deed, the loan notes are not repayable until the earlier of a sale or disposal of the LLP or twenty five years from the issue of the loan notes, being June 2032.
At this stage there is no intention to sell or dispose of the LLP and as a consequence of the LLP not trading, the members consider that the LLP has adequate financial resources to continue in operational existence and accordingly continue to adopt the going concern basis.

 
2.5

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.

The LLP only enters into basic financial instrument transactions that result in the recognition of financial liabilities such as other creditors.

Page 3

 
AAIM TURBO LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt.


3.


Employees

The entity has no employees.


4.


Information in relation to members

The average number of members during the year was 3 (2022 - 3).
Interest on loan notes granted to the members is treated as members' remuneration and treated as an expense.


5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Accruals and deferred income
101
101



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
75,495,094
70,428,985


Other creditors due after more than one year consist of loan notes which are due for repayment in 2032. The loan notes carry interest at 7% per annum and are unsecured.

Page 4

 
AAIM TURBO LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Loans and other debts due to members


2023
2022
£
£



Members' capital treated as debt
(100)
(100)

Other amounts due to members
70,379,274
65,656,475

70,379,174
65,656,375

Loans and other debts due to members may be further analysed as follows:

2023
2022
£
£



Falling due after more than one year
(70,379,174)
(65,656,375)

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


8.


Related party transactions

Included within other creditors are loan notes and interest of £371,893 (2022 - £346,940) due to a director of the corporate member of the LLP. Interest of £24,956 (2022 - £23,281) was accrued on the loan notes during the year.
Included within other creditors are loan notes and interest of £75,123,201 
(2022 - £70,082,048) due to an entity under the common control of a director. Interest of £5,041,153 (2022 - £4,702,866) was accrued on the loan notes during the year.

 
Page 5