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REGISTERED NUMBER: OC419458 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

CLT West 13 CMG Properties LLP

CLT West 13 CMG Properties LLP (Registered number: OC419458)

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


CLT West 13 CMG Properties LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: C M Gomez Hernandez
West 13 CMG Investments Limited





REGISTERED OFFICE: 44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN





REGISTERED NUMBER: OC419458 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

CLT West 13 CMG Properties LLP (Registered number: OC419458)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Investment property 4 325,383 307,862

CREDITORS
Amounts falling due within one year 5 (9,665 ) (13,517 )
NET CURRENT LIABILITIES (9,665 ) (13,517 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,718

294,345

CREDITORS
Amounts falling due after more than one
year

6

-

(8,493

)
NET ASSETS ATTRIBUTABLE TO
MEMBERS

315,718

285,852

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 315,718 285,852
315,718 285,852

TOTAL MEMBERS' INTERESTS
Members' other interests 315,718 285,852

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.

CLT West 13 CMG Properties LLP (Registered number: OC419458)

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 17 July 2024 and were signed by:





C M Gomez Hernandez - Designated member

CLT West 13 CMG Properties LLP (Registered number: OC419458)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

CLT West 13 CMG Properties LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

The functional currency of the LLP is pounds sterling and the euro. The presentational currency is pounds sterling, with monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Going concern
Current liabilities exceed current assets, however, after reviewing the LLP's forecasts and projections, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the supply of accommodation represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

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.

Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities including trade and other payables 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

CLT West 13 CMG Properties LLP (Registered number: OC419458)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Provision for liabilities
Provisions are recognised when the LLP has a present obligation (legal or constructive) as a result of a past event, it is probable that the LLP will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 307,862
Revaluations 25,688
Exchange differences (8,167 )
At 31 March 2024 325,383
NET BOOK VALUE
At 31 March 2024 325,383
At 31 March 2023 307,862

The investment property has been valued by the designated members, and is disclosed at its open market value.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 48,369
Valuation in 2020 7,729
Valuation in 2021 7,453
Valuation in 2022 31,096
Valuation in 2023 11,627
Valuation in 2024 17,521
Cost 201,588
325,383

CLT West 13 CMG Properties LLP (Registered number: OC419458)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 8,415 12,417
Other creditors 1,250 1,100
9,665 13,517

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 8,493

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 8,415 20,910

The bank loan is secured by way of a first charge over the investment property held by the LLP.