Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activity2022-04-01false33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC346351 2022-04-01 2023-03-31 OC346351 2021-04-01 2022-03-31 OC346351 2023-03-31 OC346351 2022-03-31 OC346351 c:FreeholdInvestmentProperty 2022-04-01 2023-03-31 OC346351 c:FreeholdInvestmentProperty 2023-03-31 OC346351 c:FreeholdInvestmentProperty 2022-03-31 OC346351 c:CurrentFinancialInstruments 2023-03-31 OC346351 c:CurrentFinancialInstruments 2022-03-31 OC346351 c:CurrentFinancialInstruments 3 2023-03-31 OC346351 c:CurrentFinancialInstruments 3 2022-03-31 OC346351 c:Non-currentFinancialInstruments 2023-03-31 OC346351 c:Non-currentFinancialInstruments 2022-03-31 OC346351 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC346351 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC346351 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC346351 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC346351 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC346351 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 OC346351 e:FRS102 2022-04-01 2023-03-31 OC346351 e:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC346351 e:FullAccounts 2022-04-01 2023-03-31 OC346351 e:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC346351 2 2022-04-01 2023-03-31 OC346351 5 2022-04-01 2023-03-31 OC346351 e:PartnerLLP1 2022-04-01 2023-03-31 OC346351 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC346351 c:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 OC346351 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC346351 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC346351









DAYBROOK PROPERTIES UK LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
DAYBROOK PROPERTIES UK LLP
REGISTERED NUMBER: OC346351

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
-
6,575,866

  
-
6,575,866

Current assets
  

Debtors: amounts falling due within one year
 5 
6,958,703
121,556

Cash at bank and in hand
 6 
109,700
139,914

  
7,068,403
261,470

Creditors: Amounts Falling Due Within One Year
 7 
(3,965,687)
(112,765)

Net current assets
  
 
 
3,102,716
 
 
148,705

Total assets less current liabilities
  
3,102,716
6,724,571

Creditors: amounts falling due after more than one year
 8 
-
(4,130,812)

  
3,102,716
2,593,759

  

Net assets
  
3,102,716
2,593,759


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
3,102,716
445,299

  
3,102,716
445,299

Members' other interests
  

Revaluation reserve classified as equity
  
-
2,148,460

  
 
-
 
2,148,460

  
3,102,716
2,593,759


Total members' interests
  

Loans and other debts due to members
 10 
3,102,716
445,299

Members' other interests
  
-
2,148,460

  
3,102,716
2,593,759


Page 1

 
DAYBROOK PROPERTIES UK LLP
REGISTERED NUMBER: OC346351
    
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: 




Mr M Lerner
Designated member

Date: 26 January 2024

The notes on pages 3 to 8 form part of these financial statements.

Daybrook Properties UK 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

 
DAYBROOK PROPERTIES UK LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Daybrook Properties UK LLP is a limited liability partnership incorporated in England. The Registered Office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the LLP. 

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

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
DAYBROOK PROPERTIES UK LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 .

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

Page 4

 
DAYBROOK PROPERTIES UK LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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 average monthly number of persons (including members with contracts of employment) employed during the year was as follows:


        2023
        2022
            No.
            No.







Members
3
3

Page 5

 
DAYBROOK PROPERTIES UK LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Investment property

£





At 1 April 2022
6,575,866


Additions at cost
1,134,682


Disposals
(7,710,548)



At 31 March 2023
-







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
-
3,901,540

-
3,901,540

Page 6

 
DAYBROOK PROPERTIES UK LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Other debtors
6,958,702
74,583

Prepayments and accrued income
-
29,046

Grants receivable
-
17,928

6,958,702
121,557



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
109,700
139,914

109,700
139,914



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,765,112
85,000

Other taxation and social security
5,750
5,167

Accruals and deferred income
194,825
22,598

3,965,687
112,765



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
4,130,812

-
4,130,812


Page 7

 
DAYBROOK PROPERTIES UK LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,765,112
85,000


3,765,112
85,000


Amounts falling due 2-5 years

Bank loans
-
4,130,812


-
4,130,812


3,765,112
4,215,812



10.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
3,102,716
445,299

3,102,716
445,299

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

2023
2022
£
£



Falling due within one year
3,102,716
445,299

3,102,716
445,299

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

 
Page 8