Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC411944 2022-04-01 2023-03-31 OC411944 2021-04-01 2022-03-31 OC411944 2023-03-31 OC411944 2022-03-31 OC411944 c:FreeholdInvestmentProperty 2023-03-31 OC411944 c:FreeholdInvestmentProperty 2022-03-31 OC411944 c:CurrentFinancialInstruments 2023-03-31 OC411944 c:CurrentFinancialInstruments 2022-03-31 OC411944 c:Non-currentFinancialInstruments 2023-03-31 OC411944 c:Non-currentFinancialInstruments 2022-03-31 OC411944 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC411944 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC411944 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC411944 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC411944 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC411944 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 OC411944 d:FRS102 2022-04-01 2023-03-31 OC411944 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC411944 d:FullAccounts 2022-04-01 2023-03-31 OC411944 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC411944 d:PartnerLLP1 2022-04-01 2023-03-31 OC411944 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC411944 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 iso4217:GBP xbrli:pure

Registered number: OC411944









BEACH PROPERTIES LONDON LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
BEACH PROPERTIES LONDON LLP
REGISTERED NUMBER: OC411944

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
428,416
428,416

  
428,416
428,416

Current assets
  

Debtors: amounts falling due within one year
 5 
212,734
202,734

Cash at bank and in hand
 6 
118,010
159,490

  
330,744
362,224

Creditors: Amounts Falling Due Within One Year
 7 
(109,460)
(126,310)

Net current assets
  
 
 
221,284
 
 
235,914

Total assets less current liabilities
  
649,700
664,330

Creditors: amounts falling due after more than one year
 8 
(370,038)
(370,038)

  
279,662
294,292

  

Net assets
  
279,662
294,292


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
279,662
294,292

  
279,662
294,292

  

  
279,662
294,292


Total members' interests
  

Loans and other debts due to members
 10 
279,662
294,292

  
279,662
294,292


Page 1

 
BEACH PROPERTIES LONDON LLP
REGISTERED NUMBER: OC411944
    
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: 




M Lerner
Designated member

Date: 9 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Beach Properties London 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

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Beach Properties London 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

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:

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.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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 .

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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 employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
428,416



At 31 March 2023
428,416

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
428,416
428,416

428,416
428,416


5.


Debtors

2023
2022
£
£


Other debtors
212,734
202,734

212,734
202,734



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
118,010
159,490

118,010
159,490


Page 5

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
-
20,000

Other creditors
105,710
105,710

Accruals and deferred income
3,750
600

109,460
126,310



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
370,038
370,038

370,038
370,038



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£



Amounts falling due 2-5 years

Other loans
370,038
370,038


370,038
370,038


370,038
370,038


Page 6

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
279,662
294,292

279,662
294,292

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

2023
2022
£
£



Falling due within one year
279,662
294,292

279,662
294,292

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


11.


Related party transactions

Included within creditors are the following amounts due to companies in which the director has an interest.
- £105,000 (2022: £105,000) due to Western Mill LLP.

 
Page 7