Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.a property rental businessfalse2022-12-01false22 OC433923 2022-12-01 2023-11-30 OC433923 2021-11-01 2022-11-30 OC433923 2023-11-30 OC433923 2022-11-30 OC433923 c:LeaseholdInvestmentProperty 2023-11-30 OC433923 c:LeaseholdInvestmentProperty 2022-11-30 OC433923 c:CurrentFinancialInstruments 2023-11-30 OC433923 c:CurrentFinancialInstruments 2022-11-30 OC433923 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 OC433923 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 OC433923 d:FRS102 2022-12-01 2023-11-30 OC433923 d:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 OC433923 d:FullAccounts 2022-12-01 2023-11-30 OC433923 d:LimitedLiabilityPartnershipLLP 2022-12-01 2023-11-30 OC433923 d:PartnerLLP1 2022-12-01 2023-11-30 OC433923 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-11-30 OC433923 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-11-30 OC433923 c:FurtherSpecificReserve1ComponentTotalEquity 2023-11-30 OC433923 c:FurtherSpecificReserve1ComponentTotalEquity 2022-11-30 iso4217:GBP xbrli:pure

Registered number: OC433923









PEARSON'S INVESTMENTS LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
PEARSON'S INVESTMENTS LLP
REGISTERED NUMBER: OC433923

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,495,000
2,495,000

Current assets
  

Cash at bank and in hand
  
2
2

Creditors: Amounts Falling Due Within One Year
 5 
(6,263)
(3,543)

Net current liabilities
  
 
 
(6,261)
 
 
(3,541)

  

Net assets
  
2,488,739
2,491,459


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
(6,263)
(3,543)

Members' other interests
  

Members' capital classified as equity
  
1,476,618
1,476,618

Revaluation reserve classified as equity
  
1,018,384
1,018,384

  
 
2,488,739
 
2,491,459


Total members' interests
  

Loans and other debts due to members
 6 
(6,263)
(3,543)

Members' other interests
  
2,495,002
2,495,002

  
2,488,739
2,491,459


Page 1

 
PEARSON'S INVESTMENTS LLP
REGISTERED NUMBER: OC433923
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 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 5 June 2024.




D&A Construction Limited
Designated member

The notes on pages 3 to 5 form part of these financial statements.

Pearson's 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

 
PEARSON'S INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Pearson's Investments LLP ("the LLP") is a limited liability partnership incorporated in England and Wales. Its registered office is Leytonstone House, Leytonstone, London, E11 1GA.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Revenue

Rental income
Rental income from operating leases is recognised on a straight line basis over the term of lease.

 
2.3

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 .

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and the members 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

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. 

 
2.6

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.

Page 3

 
PEARSON'S INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

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 statement of financial position when the LLP becomes party to the contractual provisions of the instrument.

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.


3.


Employees

The average monthly number of employees, including members, during the year was 2 (2022 - 2).

Page 4

 
PEARSON'S INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 December 2022
2,495,000



At 30 November 2023
2,495,000

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







5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,563
2,643

Accruals and deferred income
2,700
900

6,263
3,543



6.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
(6,263)
(3,543)

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

2023
2022
£
£



Falling due within one year
(6,263)
(3,543)

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

 
Page 5