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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
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
28 February 2023
Fixed assets
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
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.
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
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 28 FEBRUARY 2023
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).
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.
|
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 |
|
---------- |
|
|
|
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.