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REGISTERED NUMBER: OC404029 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CAROCO APART HOTEL LLP

CAROCO APART HOTEL LLP (REGISTERED NUMBER: OC404029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CAROCO APART HOTEL LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DESIGNATED MEMBERS: Mrs D M Copithorne Crainey
A Copithorne Crainey





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: OC404029 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

CAROCO APART HOTEL LLP (REGISTERED NUMBER: OC404029)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 24,223 20,784
Investment property 4 4,000,000 3,100,000
4,024,223 3,120,784

CURRENT ASSETS
Debtors 5 16,827 28,326
Cash at bank 200,816 176,050
217,643 204,376
CREDITORS
Amounts falling due within one year 6 77,361 116,313
NET CURRENT ASSETS 140,282 88,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,164,505

3,208,847

CREDITORS
Amounts falling due after more than one
year

7

2,277,819

1,359,387
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,886,686

1,849,460

LOANS AND OTHER DEBTS DUE TO
MEMBERS

8

26,294

889,068

MEMBERS' OTHER INTERESTS
Revaluation reserve 9 1,860,392 960,392
1,886,686 1,849,460

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 8 26,294 889,068
Members' other interests 1,860,392 960,392
1,886,686 1,849,460

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 31 March 2024.

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.

CAROCO APART HOTEL LLP (REGISTERED NUMBER: OC404029)

BALANCE SHEET - continued
31 MARCH 2024


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 26 July 2024 and were signed by:





A Copithorne Crainey - Designated member

CAROCO APART HOTEL LLP (REGISTERED NUMBER: OC404029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

2. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

3. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 - 35,129 35,129
Additions 16,061 1,806 17,867
At 31 March 2024 16,061 36,935 52,996
DEPRECIATION
At 1 April 2023 - 14,345 14,345
Charge for year 3,689 10,739 14,428
At 31 March 2024 3,689 25,084 28,773
NET BOOK VALUE
At 31 March 2024 12,372 11,851 24,223
At 31 March 2023 - 20,784 20,784

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,100,000
Revaluations 900,000
At 31 March 2024 4,000,000
NET BOOK VALUE
At 31 March 2024 4,000,000
At 31 March 2023 3,100,000

CAROCO APART HOTEL LLP (REGISTERED NUMBER: OC404029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 939,608
Valuation in 2024 900,000
Cost 2,160,392
4,000,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,827 28,326

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 36,014 41,499
Trade creditors - 35,352
VAT 8,693 2,675
Other creditors 30,000 30,000
Accrued expenses 2,654 6,787
77,361 116,313

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 36,014 41,499
Bank loans - 2-5 years 119,156 140,673
Bank loans more 5 yr by instal 1,172,649 1,177,215
Other loans more 5yrs instal 950,000 -
2,277,819 1,359,387

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,172,649 1,177,215
Other loans more 5yrs instal 950,000 -
2,122,649 1,177,215

8. LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans to members are repaid once all other debts are repaid.

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 960,392
Revaluation in the year 900,000
At 31 March 2024 1,860,392