Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31falseNo description of principal activitytrue2022-06-306trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC442915 2022-06-29 OC442915 2022-06-30 2023-03-31 OC442915 2021-04-01 2022-06-29 OC442915 2023-03-31 OC442915 c:Buildings 2022-06-30 2023-03-31 OC442915 c:Buildings 2023-03-31 OC442915 c:FreeholdInvestmentProperty 2022-06-30 2023-03-31 OC442915 c:FreeholdInvestmentProperty 2023-03-31 OC442915 d:FRS102 2022-06-30 2023-03-31 OC442915 d:AuditExempt-NoAccountantsReport 2022-06-30 2023-03-31 OC442915 d:FullAccounts 2022-06-30 2023-03-31 OC442915 d:LimitedLiabilityPartnershipLLP 2022-06-30 2023-03-31 OC442915 2 2022-06-30 2023-03-31 OC442915 d:PartnerLLP3 2022-06-30 2023-03-31 OC442915 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC442915










MORGAN BEANSTALK LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
MORGAN BEANSTALK LLP
REGISTERED NUMBER: OC442915

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Tangible assets
  
721,391

Investment property
  
2,949,334

  
3,670,725

Current assets
  

Cash at bank and in hand
  
178

  
178

Total assets less current liabilities
  
 
 
3,670,903

  

Net assets
  
3,670,903


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
3,656,924

Other amounts
  
13,979

  
3,670,903

  

  
3,670,903


Total members' interests
  

Loans and other debts due to members
  
3,670,903

  
3,670,903


Page 1

 
MORGAN BEANSTALK LLP
REGISTERED NUMBER: OC442915
    
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 income statement 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 on 12 February 2024.




Mr O Morgan
Designated member

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

Page 2

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

1.


General information

Morgan Beanstalk LLP is a limited liability partnership incorporated in England and Wales, registration number OC442915. The registered office is The Mill House, Tunstall, Woodbridge, Suffolk, England, IP12 2JR. 

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

Interest income

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

 
2.4

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 .

Page 3

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

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
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

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 6.

Page 4

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

4.


Tangible fixed assets





Freehold property

£



Cost or valuation


Additions
721,391



At 31 March 2023

721,391






Net book value



At 31 March 2023
721,391


5.


Investment property


Freehold investment property

£



Valuation


Additions at cost
2,949,334



At 31 March 2023
2,949,334

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



At 31 March 2023




Page 5

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

6.


Loans and other debts due to members


2023
£



Members' capital treated as debt
3,656,924

Other amounts due to members
13,979

3,670,903

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

2023
£



Falling due after more than one year
3,670,903

3,670,903

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

 
Page 6