Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Property investment and development2023-01-01false11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC352878 2023-01-01 2023-12-31 OC352878 2022-01-01 2022-12-31 OC352878 2023-12-31 OC352878 2022-12-31 OC352878 c:FurnitureFittings 2023-01-01 2023-12-31 OC352878 c:FurnitureFittings 2023-12-31 OC352878 c:FurnitureFittings 2022-12-31 OC352878 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 OC352878 c:FreeholdInvestmentProperty 2023-12-31 OC352878 c:FreeholdInvestmentProperty 2022-12-31 OC352878 c:CurrentFinancialInstruments 2023-12-31 OC352878 c:CurrentFinancialInstruments 2022-12-31 OC352878 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 OC352878 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC352878 d:FRS102 2023-01-01 2023-12-31 OC352878 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 OC352878 d:FullAccounts 2023-01-01 2023-12-31 OC352878 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 OC352878 6 2023-01-01 2023-12-31 OC352878 d:PartnerLLP4 2023-01-01 2023-12-31 OC352878 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-12-31 OC352878 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 OC352878 c:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 OC352878 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 OC352878 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 OC352878 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 OC352878 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: OC352878









CARLTON MULTI INVESTMENTS LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CARLTON MULTI INVESTMENTS LLP
REGISTERED NUMBER: OC352878

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
29,688
37,110

Investments
 5 
100
100

Investment property
 6 
5,641,838
5,641,838

  
5,671,626
5,679,048

Current assets
  

Debtors: amounts falling due within one year
 7 
112,170
304,580

  
112,170
304,580

Creditors: Amounts Falling Due Within One Year
 8 
(5,252,093)
(5,345,453)

Net current liabilities
  
 
 
(5,139,923)
 
 
(5,040,873)

Total assets less current liabilities
  
531,703
638,175

  

Net assets
  
531,703
638,175


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
1,089,779
1,077,279

  
1,089,779
1,077,279

Members' other interests
  

Members' capital classified as equity
  
100
100

Other reserves classified as equity
  
(558,176)
(439,204)

  
 
(558,076)
 
(439,104)

  
531,703
638,175


Total members' interests
  

Loans and other debts due to members
 9 
1,089,779
1,077,279

Members' other interests
  
(558,076)
(439,104)

  
531,703
638,175


Page 1

 
CARLTON MULTI INVESTMENTS LLP
REGISTERED NUMBER: OC352878
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 July 2024.




Queensway Associates Ltd
Designated member

The notes on pages 3 to 9 form part of these financial statements.

Carlton Multi Investments 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 2

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Carlton Multi Investments LLP was incorporated and domiciled in England and Wales.
The principal activity of the LLP was that of property investment and development.

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

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

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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 .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the members. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 5

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

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
Page 6

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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 average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
86,124



At 31 December 2023

86,124



Depreciation


At 1 January 2023
49,014


Charge for the year on owned assets
7,422



At 31 December 2023

56,436



Net book value



At 31 December 2023
29,688



At 31 December 2022
37,110

Page 7

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
100



At 31 December 2023
100





6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
5,641,838



At 31 December 2023
5,641,838

In the opinion of the members the market value of the investment property was not significantly different to the cost as at 31 December 2022.

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





7.


Debtors

2023
2022
£
£


Other debtors
112,170
304,580

112,170
304,580


Page 8

 
CARLTON MULTI INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,930,000
4,020,000

Other creditors
1,319,093
1,322,453

Accruals and deferred income
3,000
3,000

5,252,093
5,345,453



9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
1,089,779
1,077,279

1,089,779
1,077,279

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

2023
2022
£
£



Falling due within one year
1,089,779
1,077,279

1,089,779
1,077,279

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

 
Page 9