0 false false false false false false false false false false false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 502,500 502,500 xbrli:pure xbrli:shares iso4217:GBP OC430758 2022-03-01 2023-02-28 OC430758 2023-02-28 OC430758 2022-02-28 OC430758 bus:Director6 2022-03-01 2023-02-28 OC430758 core:WithinOneYear 2023-02-28 OC430758 core:WithinOneYear 2022-02-28 OC430758 core:AfterOneYear 2023-02-28 OC430758 core:AfterOneYear 2022-02-28 OC430758 core:CostValuation core:Non-currentFinancialInstruments 2022-02-28 OC430758 core:Non-currentFinancialInstruments 2022-02-28 OC430758 bus:SmallEntities 2022-03-01 2023-02-28 OC430758 bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 OC430758 bus:FullAccounts 2022-03-01 2023-02-28 OC430758 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 OC430758 bus:LimitedLiabilityPartnershipLLP 2022-03-01 2023-02-28 OC430758 core:Non-currentFinancialInstruments core:TransfersIntoOrOutInvestmentsIncreaseDecreaseInInvestments 2023-02-28
REGISTERED NUMBER: OC430758
CAYUGA 009 LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
CAYUGA 009 LLP
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
502,500
Current assets
Stocks
3,247,520
1,643,713
Debtors
5
15,589
1,476,815
Cash at bank and in hand
29,597
11,006
-------------
-------------
3,292,706
3,131,534
Creditors: amounts falling due within one year
6
209,589
127,944
-------------
-------------
Net current assets
3,083,117
3,003,590
-------------
-------------
Total assets less current liabilities
3,083,117
3,506,090
Creditors: amounts falling due after more than one year
7
1,708,117
2,131,090
-------------
-------------
Net assets
1,375,000
1,375,000
-------------
-------------
Represented by:
Loans and other debts due to members
Other amounts
Members' other interests
Members' capital classified as equity
1,375,000
1,375,000
Other reserves
-------------
-------------
1,375,000
1,375,000
-------------
-------------
Total members' interests
Amounts due from members
(937)
(142,229)
Loans and other debts due to members
Members' other interests
1,375,000
1,375,000
-------------
-------------
1,374,063
1,232,771
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of income and retained earnings has not been delivered.
CAYUGA 009 LLP
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
For the year ending 28 February 2023 the LLP 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 28 November 2023 , and are signed on their behalf by:
Yukon Reserves Ltd
Designated Member
Registered number: OC430758
CAYUGA 009 LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Cayuga House, 2a Addison Road, Hove, BN3 1TN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of income and retained earnings in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of income and retained earnings and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of income and retained earnings within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Cayuga 009 LLP is adopting the policy of capitalising borrowing costs that are directly attributable to the construction of the development.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Investments
Other investments other than loans
£
Cost
At 1 March 2022
502,500
Transfers
( 502,500)
----------
At 28 February 2023
----------
Impairment
At 1 March 2022 and 28 February 2023
----------
Carrying amount
At 28 February 2023
----------
At 28 February 2022
502,500
----------
5.
Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest
1,330,036
Other debtors
15,589
146,779
---------
-------------
15,589
1,476,815
---------
-------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest
16,501
Other creditors
193,088
127,944
----------
----------
209,589
127,944
----------
----------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,708,117
2,131,090
-------------
-------------
The loan as shown within the financial statements is secured by way of a first fixed and floating charge over the assets of the LLP.