Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false2022-08-01The principal activity of the LLP was that of property investment.00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC376683 2022-08-01 2023-07-31 OC376683 2021-08-01 2022-07-31 OC376683 2023-07-31 OC376683 2022-07-31 OC376683 c:FreeholdInvestmentProperty 2023-07-31 OC376683 c:FreeholdInvestmentProperty 2022-07-31 OC376683 c:CurrentFinancialInstruments 2023-07-31 OC376683 c:CurrentFinancialInstruments 2022-07-31 OC376683 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 OC376683 c:CurrentFinancialInstruments c:WithinOneYear 2022-07-31 OC376683 d:FRS102 2022-08-01 2023-07-31 OC376683 d:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 OC376683 d:FullAccounts 2022-08-01 2023-07-31 OC376683 d:LimitedLiabilityPartnershipLLP 2022-08-01 2023-07-31 OC376683 2 2022-08-01 2023-07-31 OC376683 5 2022-08-01 2023-07-31 OC376683 d:PartnerLLP1 2022-08-01 2023-07-31 OC376683 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-07-31 OC376683 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-07-31 OC376683 c:FurtherSpecificReserve1ComponentTotalEquity 2023-07-31 OC376683 c:FurtherSpecificReserve1ComponentTotalEquity 2022-07-31 OC376683 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure
Registered number: OC376683









ALBERT HALL CRESCENT LLP

UNAUDITED

ANNUAL REPORT AND FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
ALBERT HALL CRESCENT LLP
REGISTERED NUMBER: OC376683

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,175,000
1,175,000

  
1,175,000
1,175,000

Current assets
  

Debtors: amounts falling due within one year
 5 
55,331
53,813

Cash at bank and in hand
 6 
102,196
104,524

  
157,527
158,337

Creditors: Amounts Falling Due Within One Year
 7 
(4,384)
(2,100)

Net current assets
  
 
 
153,143
 
 
156,237

Total assets less current liabilities
  
1,328,143
1,331,237

  

Net assets
  
1,328,143
1,331,237


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
390,859
393,953

Revaluation reserve classified as equity
  
937,284
937,284

  
 
1,328,143
 
1,331,237

  
1,328,143
1,331,237


Total members' interests
  

Members' other interests
  
1,328,143
1,331,237

  
1,328,143
1,331,237


Page 1

 
ALBERT HALL CRESCENT LLP
REGISTERED NUMBER: OC376683

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 on 24 April 2024.




................................................
Fadi Hakura
Designated member

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

Page 2

 
ALBERT HALL CRESCENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The LLP is incorporated in England and Wales within the United Kingdom. The registered office address is Causeway House, 1 Dane Street, Bishop's Stortford, Hertfordshire, CM23 3BT.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

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

 
2.3

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 balance sheet 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.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the chairman 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.

 
2.5

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.

 
2.6

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.

Page 3

 
ALBERT HALL CRESCENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 4

 
ALBERT HALL CRESCENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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


3.


Employees




The entity has no employees.

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).


4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
1,175,000



At 31 July 2023
1,175,000

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





Page 5

 
ALBERT HALL CRESCENT LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
53,586
53,586

Other debtors
227
227

Prepayments and accrued income
1,518
-

55,331
53,813



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
102,196
104,524

102,196
104,524



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,464
-

Accruals and deferred income
1,920
2,100

4,384
2,100



8.


Related party transactions

The amount due from Albert Hall Mansions (Block 4) Freehold Limited, a company in which the Designated Members are Directors, at the year end was £53,586 (2022: £53,586).


Page 6