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REGISTERED NUMBER: OC399270 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2023

FOR

TEMPLEFIELDS A RESI LLP

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 MARCH 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

STATEMENT OF FINANCIAL POSITION
30 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 10,840,441 10,840,441

CURRENT ASSETS
Debtors 5 16,837 240
Cash at bank 60,236 93
77,073 333
CREDITORS
Amounts falling due within one year 6 2,255,942 2,185,165
NET CURRENT LIABILITIES (2,178,869 ) (2,184,832 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,661,572

8,655,609

CREDITORS
Amounts falling due after more than one
year

7

7,531,266

7,597,012
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,130,306

1,058,597

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

192,596

120,887

MEMBERS' OTHER INTERESTS
Fair value reserve 10 937,710 937,710
1,130,306 1,058,597

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 192,596 120,887
Members' other interests 937,710 937,710
1,130,306 1,058,597

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 March 2023.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

STATEMENT OF FINANCIAL POSITION - continued
30 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 31 January 2024 and were signed by:





Caridon Holdings LLP - Designated member

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 MARCH 2023

1. STATUTORY INFORMATION

Templefields A Resi LLP is registered in England and Wales. The LLP's registered number and registered office address are as below:

Registered number: OC399270

Registered office: Wrencote House
123 High Street
Croydon
Surrey
CR0 0XJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

At the time of approving the financial statements, the members have a reasonable expectation the LLP has adequate resources to continue in operational existence for the foreseeable future. The members and the LLP's parent undertakings have confirmed it will provide financial support to the LLP to enable it to meet its financial obligations as they fall due. The going concern basis of accounting in preparing the financial statements of the LLP is therefore considered appropriate by the members.

Significant judgements and estimates
In the application of the LLP's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property.

Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 MARCH 2023

2. ACCOUNTING POLICIES - continued

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
The LLP has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's statement of financial position when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the LLP transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 MARCH 2023

2. ACCOUNTING POLICIES - continued

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

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group entities and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied, and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

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

Equity instruments
Equity instruments issued by the LLP are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the LLP.

Taxation
Taxation on a members' share of the LLP's profits is solely the personal liability of the individual members and consequently is not dealt with in these financial statements.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 March 2022
and 30 March 2023 10,840,441
NET BOOK VALUE
At 30 March 2023 10,840,441
At 30 March 2022 10,840,441

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 MARCH 2023

4. INVESTMENT PROPERTY - continued

Fair value at 30 March 2023 is represented by:
£   
Valuation in 2018 369,769
Valuation in 2019 567,941
Cost 9,902,731
10,840,441

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 9,902,731 9,902,731

Investment property was valued on an open market basis on 30 March 2023 by the members .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 16,837 240

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 133,871 133,871
Trade creditors 2,640 4,454
Amounts owed to group undertakings 2,060,538 1,998,536
Other creditors 58,893 48,304
2,255,942 2,185,165

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 7,531,266 7,597,012

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 7,665,137 7,730,883

The bank loan is secured by way of a fixed and floating charge and contains a negative pledge.

9. LOANS AND OTHER DEBTS DUE TO MEMBERS

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

TEMPLEFIELDS A RESI LLP (REGISTERED NUMBER: OC399270)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 MARCH 2023

10. RESERVES
Fair
value
reserve
£   
At 31 March 2022
and 30 March 2023 937,710

11. RELATED PARTY DISCLOSURES

The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in turnover is an amount of £708,146 (2022: £608,807) relating to rent received from a connected company, a company in which the LLP designated members, have an interest.

12. ULTIMATE PARENT ENTITY

The ultimate parent entity is Caridon Holdings LLP (Registered number: OC399181) registered in England and Wales.