Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseInvestment property2022-04-0155true OC438805 2022-04-01 2023-03-31 OC438805 2021-08-19 2022-03-31 OC438805 2023-03-31 OC438805 2022-03-31 OC438805 c:FreeholdInvestmentProperty 2023-03-31 OC438805 c:FreeholdInvestmentProperty 2022-03-31 OC438805 c:CurrentFinancialInstruments 2023-03-31 OC438805 c:CurrentFinancialInstruments 2022-03-31 OC438805 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC438805 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC438805 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 OC438805 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 OC438805 d:FRS102 2022-04-01 2023-03-31 OC438805 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC438805 d:FullAccounts 2022-04-01 2023-03-31 OC438805 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC438805 d:PartnerLLP2 2022-04-01 2023-03-31 OC438805 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC438805 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC438805 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC438805 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC438805 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC438805 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 OC438805 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC438805










CMP PROPERTY GROUP LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CMP PROPERTY GROUP LLP
REGISTERED NUMBER: OC438805

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
3,210,000
3,210,000

  
3,210,000
3,210,000

Current assets
  

Debtors: amounts falling due within one year
  
1,099
-

Cash at bank and in hand
  
199,544
14,425

  
200,643
14,425

Creditors: Amounts Falling Due Within One Year
 6 
(19,719)
(6,590)

Net current assets
  
 
 
180,924
 
 
7,835

Total assets less current liabilities
  
3,390,924
3,217,835

  

Net assets
  
3,390,924
3,217,835


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
1,589,326
1,416,237

  
1,589,326
1,416,237

Members' other interests
  

Members' capital classified as equity
  
5,750
5,750

Other reserves classified as equity
  
1,795,848
1,795,848

  
 
1,801,598
 
1,801,598

  
3,390,924
3,217,835


Total members' interests
  

Loans and other debts due to members
 8 
1,589,326
1,416,237

Members' other interests
  
1,801,598
1,801,598

  
3,390,924
3,217,835


Page 1

 
CMP PROPERTY GROUP LLP
REGISTERED NUMBER: OC438805
    
BALANCE SHEET (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 profit and loss account 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: 




Ashwin Chunibhai Patel
Designated member

Date: 31 January 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
CMP PROPERTY GROUP LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2023







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
-
1,797,933
1,797,933
-
-
1,797,933

Members' interests after profit for the year
-
1,797,933
1,797,933
-
-
1,797,933

Other division of profits
-
(2,085)
(2,085)
2,835
2,835
750

Movement in reserves
-
1,795,848
1,795,848
-
-
1,795,848

Amounts introduced by members
5,750
-
5,750
1,413,402
1,413,402
1,419,152

Amounts due to members
1,416,237
1,416,237

Balance at 31 March 2022
5,750
1,795,848
1,801,598
1,416,237
1,416,237
3,217,835

Profit for the year available for discretionary division among members
 
-
135,048
135,048
-
-
135,048

Members' interests after profit for the year
5,750
1,930,896
1,936,646
1,416,237
1,416,237
3,352,883

Other division of profits
-
(135,048)
(135,048)
135,048
135,048
-

Amounts introduced by members
-
-
-
110,041
110,041
110,041

Drawings on account and distribution of profit
-
-
-
(72,000)
(72,000)
(72,000)

Amounts due to members
1,589,326
1,589,326

Balance at 31 March 2023 
5,750
1,795,848
1,801,598
1,589,326
1,589,326
3,390,924

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
CMP PROPERTY GROUP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

CMP Property Group LLP is a limited liability partnership, incorporated in England and Wales. The registered office address is 14th Floor, 33 Cavendish Square, London W1G 0PW. The registered number is OC438805.

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

Going concern

The financial statements have been prepared on a going concern basis based on the continued support of the company's creditors and financiers which, in the opinion of the directors, the company has for the foreseeable future.

 
2.3

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:

Revenue represents rents and service charges receivable recognised in the period in which the services are provided in accordance with the rental agreement. Rent receivable is invoiced monthly at the beginning of the month for which the rental income relates. 

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised 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.

Page 4

 
CMP PROPERTY GROUP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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.

 
2.8

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially
Page 5

 
CMP PROPERTY GROUP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
3,210,000



At 31 March 2023
3,210,000

The 2023 valuations were made by the Members, on an open market value for existing use basis.






If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,414,152
1,414,152

Page 6

 
CMP PROPERTY GROUP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Prepayments and accrued income
1,099
-



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
6,917
3,458

Other creditors
2,695
-

Accruals and deferred income
10,107
3,132

19,719
6,590



7.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
199,544
14,425




Financial assets measured at fair value through profit or loss comprise...

Page 7

 
CMP PROPERTY GROUP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
1,589,326
1,416,237

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

2023
2022
£
£



Falling due within one year
1,589,326
1,416,237

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

 
Page 8