Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-06-13falseNo description of principal activity11true OC442659 2022-06-12 OC442659 2022-06-13 2023-03-31 OC442659 2021-06-13 2022-06-12 OC442659 2023-03-31 OC442659 c:CurrentFinancialInstruments 2023-03-31 OC442659 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC442659 d:FRS102 2022-06-13 2023-03-31 OC442659 d:AuditExempt-NoAccountantsReport 2022-06-13 2023-03-31 OC442659 d:FullAccounts 2022-06-13 2023-03-31 OC442659 d:LimitedLiabilityPartnershipLLP 2022-06-13 2023-03-31 OC442659 d:PartnerLLP2 2022-06-13 2023-03-31 OC442659 d:PartnerLLP4 2022-06-13 2023-03-31 OC442659 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC442659









LEXETER LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
LEXETER LLP
REGISTERED NUMBER: OC442659

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
Note
£

  

Current assets
  

Stocks
 4 
4,331,322

Debtors: amounts falling due within one year
 5 
55,989

Cash at bank and in hand
 6 
777,202

  
5,164,513

Creditors: Amounts Falling Due Within One Year
 7 
(170,014)

Net current assets
  
 
 
4,994,499

Total assets less current liabilities
  
4,994,499

  

Net assets
  
4,994,499


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
4,994,499

  
4,994,499

  

  
4,994,499


Total members' interests
  

Loans and other debts due to members
 8 
4,994,499

  
4,994,499


Page 1

 
LEXETER LLP
REGISTERED NUMBER: OC442659
    
STATEMENT OF FINANCIAL POSITION (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 by: 




R M Hatter
Devonshire Property Investment Limited
Designated member
Designated member


Date: 9 January 2024
Date: 9 January 2024

The notes on pages 3 to 6 form part of these financial statements.

Lexeter LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
LEXETER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Lexeter LLP is a limited liability partnership incorporated in England & Wales (registered number: OC442659). The registered office address is 101 New Cavendish Street, London, W1W 6XH.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LEXETER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

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.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.


3.


Employees

The LLP does not have any employees. The average number of members during the period was 11.

Page 4

 
LEXETER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Stocks

2023
£

Land and buildings
4,331,322

4,331,322



5.


Debtors

2023
£


Trade debtors
2,817

Other debtors
53,172

55,989



6.


Cash and cash equivalents

2023
£

Cash at bank and in hand
777,202

777,202



7.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
49,979

Other creditors
108,310

Accruals and deferred income
11,725

170,014


Page 5

 
LEXETER LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

8.


Loans and other debts due to members


2023
£



Other amounts due to members
4,994,499

4,994,499

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

2023
£



Falling due within one year
4,994,499

4,994,499

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

 
Page 6