Company No:
Contents
DESIGNATED MEMBERS | Mr R D Hooker |
Mr C J Kane | |
Mr P Pressland |
REGISTERED OFFICE | Unit 6 Old Generator House |
25 Bourne Valley Road | |
Poole | |
BH12 1DZ | |
United Kingdom |
REGISTERED NUMBER | OC341961 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Towngate House | |
2-8 Parkstone Road | |
Poole | |
Dorset BH15 2PW |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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1,405,000 | 1,507,800 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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17,901 | 20,216 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (28,168) | (37,620) | ||
Total assets less current liabilities | 1,376,832 | 1,470,180 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net assets attributable to members |
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Represented by | ||||
Loans and other debts due to members after more than one year | ||||
Members' capital classified as a liability | 92,898 | 110,898 | ||
92,898 | 110,898 | |||
Members' other interests | ||||
Revaluation reserve | 211,158 | 311,158 | ||
Other reserves | 327,158 | 294,083 | ||
538,316 | 605,241 | |||
631,214 | 716,139 | |||
Total members' interests | ||||
Loans and other debts due to members | 92,898 | 110,898 | ||
Members' other interests | 538,316 | 605,241 | ||
631,214 | 716,139 |
Members' responsibilities:
The financial statements of Cascade Property Developments LLP (registered number:
Mr C J Kane
Designated member |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Cascade Property Developments LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Unit 6 Old Generator House, 25 Bourne Valley Road, Poole, BH12 1DZ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).
The financial statements are presented in pounds sterling which is the functional currency of the LLP and rounded to the nearest £.
The members have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Rent receivable is shown as other operating income.
Fixtures and fittings |
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The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.
Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.
Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and, are treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division
among members.
The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the LLP during the year |
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Fixtures and fittings | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
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At 31 March 2024 |
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Accumulated depreciation | |||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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At 31 March 2023 |
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Investment property | |
£ | |
Valuation | |
As at 01 April 2023 |
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Fair value movement | (100,000) |
As at 31 March 2024 |
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Valuation
The Investment property was revalued by Symonds & Sampson Surveyors on 2nd November 2023 at its market value with the benefit of securing borrowing.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
2024 | 2023 | ||
£ | £ | ||
Historic cost | 1,193,842 | 1,193,842 |
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans (secured) |
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Trade creditors |
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Accruals and deferred income |
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Other taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans (secured) |
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Other related party transactions
2024 | 2023 | ||
£ | £ | ||
Summary of transactions with entities with joint control or significant interest | 8,399 | 20,344 |
Two partners of Cascade Property Developments LLP are also directors of Greendale Construction Limited.
During the year, there was no money paid to Greendale Construction Limited in respect of loans.
During the year, Greendale Construction Limited invoiced Cascade Property Developments LLP £1,296 for work done. At the year end the LLP owed £8,399 (2023 - £20,344) to Greendale Construction Limited.