Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC328426 2022-04-01 2023-03-31 OC328426 2021-04-01 2022-03-31 OC328426 2023-03-31 OC328426 2022-03-31 OC328426 c:PlantMachinery 2022-04-01 2023-03-31 OC328426 c:PlantMachinery 2023-03-31 OC328426 c:PlantMachinery 2022-03-31 OC328426 c:FreeholdInvestmentProperty 2022-04-01 2023-03-31 OC328426 c:FreeholdInvestmentProperty 2023-03-31 OC328426 c:FreeholdInvestmentProperty 2022-03-31 OC328426 c:CurrentFinancialInstruments 2023-03-31 OC328426 c:CurrentFinancialInstruments 2022-03-31 OC328426 c:Non-currentFinancialInstruments 2023-03-31 OC328426 c:Non-currentFinancialInstruments 2022-03-31 OC328426 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC328426 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 OC328426 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC328426 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 OC328426 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 OC328426 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 OC328426 d:FRS102 2022-04-01 2023-03-31 OC328426 d:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 OC328426 d:FullAccounts 2022-04-01 2023-03-31 OC328426 d:LimitedLiabilityPartnershipLLP 2022-04-01 2023-03-31 OC328426 2 2022-04-01 2023-03-31 OC328426 d:PartnerLLP2 2022-04-01 2023-03-31 OC328426 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC328426 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-03-31 OC328426 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC328426 c:FurtherSpecificReserve2ComponentTotalEquity 2022-03-31 OC328426 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC328426 c:FurtherSpecificReserve3ComponentTotalEquity 2022-03-31 OC328426 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC328426









ELMDON REAL ESTATE LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
ELMDON REAL ESTATE LLP
REGISTERED NUMBER: OC328426

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
9,848,458
10,184,932

  
9,848,458
10,184,932

Current assets
  

Stocks
  
262,700
262,700

Debtors
 6 
158,608
1,689,870

Cash at bank and in hand
 7 
393,059
930,721

  
814,367
2,883,291

Creditors: Amounts Falling Due Within One Year
 8 
(1,847,106)
(2,245,733)

Net current (liabilities)/assets
  
 
 
(1,032,739)
 
 
637,558

Total assets less current liabilities
  
8,815,719
10,822,490

Creditors: amounts falling due after more than one year
 9 
(3,472,544)
(3,700,057)

  
5,343,175
7,122,433

  

Net assets
  
5,343,175
7,122,433


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 11 
(1,068,845)
630,413

  
(1,068,845)
630,413

Members' other interests
  

Members' capital classified as equity
  
5,765,209
6,492,020

Other reserves classified as equity
  
646,811
-

  
 
6,412,020
 
6,492,020

  
5,343,175
7,122,433


Total members' interests
  

Loans and other debts due to members
 11 
(1,068,845)
630,413

Members' other interests
  
6,412,020
6,492,020

  
5,343,175
7,122,433

Page 1

 
ELMDON REAL ESTATE LLP
REGISTERED NUMBER: OC328426
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


Page 2

 
ELMDON REAL ESTATE LLP
REGISTERED NUMBER: OC328426
    
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 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: 




Jeremy Davies
Designated member

Date: 27 February 2024

The notes on pages 4 to 11 form part of these financial statements.

Elmdon Real Estate 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 3

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Elmdon Real Estate LLP is a limited liability partnership incorporated in England and Wales. The registered office is Permanent House, 133 Hammersmith Road, London, W14 0QL.
The limited liability partnership's principal activities are disclosed in the Members' Report.

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

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 4

 
ELMDON REAL ESTATE 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

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:

Plant and machinery
-
25%
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.

 
2.9

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.

Page 5

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

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.

 
2.13

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 6

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2022
6,700



At 31 March 2023

6,700



Depreciation


At 1 April 2022
6,700



At 31 March 2023

6,700



Net book value



At 31 March 2023
-



At 31 March 2022
-

Page 7

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022 (as restated)
10,184,932


Disposals
(336,474)



At 31 March 2023
9,848,458

The 2023 valuations were made by the designated 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:

As restated
2023
2022
£
£


Historic cost
3,519,264
3,692,912

3,519,264
3,692,912


6.


Debtors

As restated
2023
2022
£
£



Trade debtors
-
26,806

Other debtors
158,608
1,663,064

158,608
1,689,870


Page 8

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
393,059
930,721

393,059
930,721



8.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Bank loans
186,125
202,375

Trade creditors
1,735
8,420

Other creditors
1,577,025
2,032,557

Accruals and deferred income
82,221
2,381

1,847,106
2,245,733



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
3,472,544
3,700,057

3,472,544
3,700,057


Page 9

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
186,125
202,375


186,125
202,375

Amounts falling due in more than one year

Bank loans
3,472,544
3,700,057


3,472,544
3,700,057



3,658,669
3,902,432



11.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(1,068,845)
630,413

(1,068,845)
630,413

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

2023
2022
£
£



Falling due within one year
(1,068,845)
630,413

(1,068,845)
630,413

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

Page 10

 
ELMDON REAL ESTATE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Prior year adjustment

A prior year adjustment has been posted to correctly reflect the value of investment properties.

 
Page 11