Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-06falseThe principal activity of the LLP is property investment.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC343623 2022-04-06 2023-04-05 OC343623 2023-04-05 OC343623 2021-04-06 2022-04-05 OC343623 2022-04-05 OC343623 c:MotorVehicles 2022-04-06 2023-04-05 OC343623 c:MotorVehicles 2023-04-05 OC343623 c:MotorVehicles 2022-04-05 OC343623 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 OC343623 c:FurnitureFittings 2022-04-06 2023-04-05 OC343623 c:FurnitureFittings 2023-04-05 OC343623 c:FurnitureFittings 2022-04-05 OC343623 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 OC343623 c:OfficeEquipment 2022-04-06 2023-04-05 OC343623 c:OfficeEquipment 2023-04-05 OC343623 c:OfficeEquipment 2022-04-05 OC343623 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 OC343623 c:OwnedOrFreeholdAssets 2022-04-06 2023-04-05 OC343623 c:FreeholdInvestmentProperty 2023-04-05 OC343623 c:FreeholdInvestmentProperty 2022-04-05 OC343623 c:CurrentFinancialInstruments 2023-04-05 OC343623 c:CurrentFinancialInstruments 2022-04-05 OC343623 c:Non-currentFinancialInstruments 2023-04-05 OC343623 c:Non-currentFinancialInstruments 2022-04-05 OC343623 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-05 OC343623 c:CurrentFinancialInstruments c:WithinOneYear 2022-04-05 OC343623 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-05 OC343623 c:Non-currentFinancialInstruments c:AfterOneYear 2022-04-05 OC343623 d:FRS102 2022-04-06 2023-04-05 OC343623 d:AuditExempt-NoAccountantsReport 2022-04-06 2023-04-05 OC343623 d:FullAccounts 2022-04-06 2023-04-05 OC343623 d:LimitedLiabilityPartnershipLLP 2022-04-06 2023-04-05 OC343623 d:PartnerLLP1 2022-04-06 2023-04-05 OC343623 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-04-05 OC343623 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-04-05 OC343623 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-05 OC343623 c:FurtherSpecificReserve3ComponentTotalEquity 2022-04-05 iso4217:GBP xbrli:pure
Registered number: OC343623













Delessert de Maligny LLP

Financial statements
Information for filing with the registrar

5 April 2023




 
Delessert de Maligny LLP


Statement of financial position
As at 5 April 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
47,438
31,118

Investment property
 5 
8,175,314
8,175,314

  
8,222,752
8,206,432

Current assets
  

Debtors: amounts falling due within one year
 6 
40,634
22,941

Cash at bank and in hand
  
155,306
124,646

  
195,940
147,587

Creditors: amounts falling due within one year
 7 
(133,059)
(173,102)

Net current assets/(liabilities)
  
 
 
62,881
 
 
(25,515)

Total assets less current liabilities
  
8,285,633
8,180,917

Creditors: amounts falling due after more than one year
 8 
(629,079)
(636,464)

  
7,656,554
7,544,453

  

Net assets
  
7,656,554
7,544,453


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
7,606,554
7,494,453

  
7,606,554
7,494,453

Members' other interests
  

Members' capital classified as equity
  
50,000
50,000

  
 
50,000
 
50,000

  
7,656,554
7,544,453


Total members' interests
  

Loans and other debts due to members
 9 
7,606,554
7,494,453

Members' other interests
  
50,000
50,000

  
7,656,554
7,544,453

1

 
Delessert de Maligny LLP

    
Statement of financial position (continued)
As at 5 April 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 28 November 2023.




A C Robson (Designated member)
Designated member

Registered number: OC343623
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Delessert de Maligny LLP
 
 

Notes to the financial statements
For the year ended 5 April 2023

1.


General information

The LLP is registered in England and Wales.  The address of the registered office is Pigdon Hall, Pigdon, Morpeth, Northumberland, NE61 3SE.

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

Foreign currency translation

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date of the transaction.  Exchange differences are taken into account in arriving at the operating profit.

 
2.3

Revenue

The turnover shown in the profit and loss account represents rents receivable during the year.

 
2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

 
2.5

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

3

 
Delessert de Maligny LLP
 

 
Notes to the financial statements
For the year ended 5 April 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
20%
reducing balance
Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. 
Investment property should be revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. However, the members have taken the decision not to revalue the Investment properties and they are therefore shown in the accounts at cost. This is not in accordance with UK GAAP.

 
2.7

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees during the year was 2 (2022 - 2).

4

 
Delessert de Maligny LLP
 
 

Notes to the financial statements
For the year ended 5 April 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 6 April 2022
28,693
222,137
6,704
257,534


Additions
28,999
1,039
-
30,038


Disposals
-
(369)
-
(369)



At 5 April 2023

57,692
222,807
6,704
287,203



Depreciation


At 6 April 2022
27,481
195,036
3,899
226,416


Charge for the year
7,553
5,542
561
13,656


Disposals
-
(307)
-
(307)



At 5 April 2023

35,034
200,271
4,460
239,765



Net book value



At 5 April 2023
22,658
22,536
2,244
47,438



At 5 April 2022
1,212
27,101
2,805
31,118


5.


Investment property


Investment property

£



Valuation


At 6 April 2022
8,175,314



At 5 April 2023
8,175,314

As noted in the accounting policies, investment properties are shown in the accounts at cost and this policy is not in accordance with UK GAAP.
If the investment properties had been revalued at the balance sheet date the potential revaluation adjustment could have been £450,000 however, there are doubts as to whether the properties could be disposed of at the values indicated and whether the revaluation surplus is temporary.




5

 
Delessert de Maligny LLP
 
 

Notes to the financial statements
For the year ended 5 April 2023

6.


Debtors

2023
2022
£
£


Trade debtors
33,598
13,957

Prepayments and accrued income
7,036
8,984

40,634
22,941



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
37,953
51,449

Obligations under finance lease and hire purchase contracts
2,626
-

Accruals and deferred income
92,480
121,653

133,059
173,102


The following liabilities were secured:

2023
2022
£
£



Bank loans
37,953
51,449

37,953
51,449

Details of security provided:

Bank loans are secured against investment properties.

6

 
Delessert de Maligny LLP
 
 

Notes to the financial statements
For the year ended 5 April 2023

8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
610,843
636,464

Net obligations under finance leases and hire purchase contracts
18,236
-

629,079
636,464


Included in bank loans due after more than one year is an amount of £391,550 (2022: £391,550) in respect of liabilities payable or repayable by installments which fall due for payment after more than five years from the reporting date.

The following liabilities were secured:

2023
2022
£
£



Bank loans
610,843
636,464

610,843
636,464

Details of security provided:

Bank loans are secured against investment properties.


9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(7,606,554)
(7,494,453)

(7,606,554)
(7,494,453)

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



 
7