Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-3102022-09-01falseNo description of principal activity0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC330357 2022-09-01 2023-08-31 OC330357 2021-09-01 2022-08-31 OC330357 2023-08-31 OC330357 2022-08-31 OC330357 c:PlantMachinery 2022-09-01 2023-08-31 OC330357 c:PlantMachinery 2023-08-31 OC330357 c:PlantMachinery 2022-08-31 OC330357 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 OC330357 c:CurrentFinancialInstruments 2023-08-31 OC330357 c:CurrentFinancialInstruments 2022-08-31 OC330357 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC330357 c:CurrentFinancialInstruments c:WithinOneYear 2022-08-31 OC330357 d:FRS102 2022-09-01 2023-08-31 OC330357 d:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 OC330357 d:FullAccounts 2022-09-01 2023-08-31 OC330357 d:LimitedLiabilityPartnershipLLP 2022-09-01 2023-08-31 OC330357 d:PartnerLLP1 2022-09-01 2023-08-31 OC330357 d:PartnerLLP2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: OC330357









THREE V PARTNERSHIP LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
THREE V PARTNERSHIP LLP
 

INFORMATION




Designated Members

J C Constable
S K Ratcliffe

LLP registered number

OC330357

Registered office

4th Floor
24 Old Bond Street
London
W1S 4AW


 
THREE V PARTNERSHIP LLP
REGISTERED NUMBER: OC330357

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
66,352
108,853

  
66,352
108,853

Current assets
  

Debtors: amounts falling due within one year
 5 
106,077
122,397

Cash at bank and in hand
 6 
384,566
27,744

  
490,643
150,141

Creditors: Amounts Falling Due Within One Year
 7 
(108,521)
(39,941)

Net current assets
  
 
 
382,122
 
 
110,200

Total assets less current liabilities
  
448,474
219,053

  

Net assets
  
448,474
219,053


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
448,474
219,053

  

  
448,474
219,053


Total members' interests
  

Loans and other debts due to members
 8 
448,474
219,053


Page 1

 
THREE V PARTNERSHIP LLP
REGISTERED NUMBER: OC330357
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 by: 





J C Constable
Designated member

Date: 20 August 2024

The notes on pages 3 to 8 form part of these financial statements.

Three V Partnership 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

 
THREE V PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Three V Partnership LLP is a limited liability partnership registered in England and Wales. The LLP's registered number and registered office address can be found on the Information page.
The principal activity of the LLP is that of providing management services.

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

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

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.

Revenue from contract to provide management services is recognised in the period in which the services are provided in accordance with the contract.

Page 3

 
THREE V PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33% and 25% on cost

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.

 
2.6

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
THREE V PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. 

(i) Financial assets
Basic financial assets, including trade and other debtors, 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 method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in Statement of Comprehensive Income.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and bank loans, 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.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and 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.


3.


Employees

The entity has no employees.

The average monthly number of employees  during the year was 0 (2022 - 0).

Page 5

 
THREE V PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 September 2022
333,424


Disposals
(9,598)



At 31 August 2023

323,826



Depreciation


At 1 September 2022
224,571


Charge for the year on owned assets
42,501


Disposals
(9,598)



At 31 August 2023

257,474



Net book value



At 31 August 2023
66,352



At 31 August 2022
108,853

Page 6

 
THREE V PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Trade debtors
53,712
79,402

Other debtors
52,166
35,983

Prepayments and accrued income
199
7,012

106,077
122,397



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
384,566
27,744



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
56,134
3,511

Other taxation and social security
2,551
2,766

Other creditors
49,836
33,664

108,521
39,941


Page 7

 
THREE V PARTNERSHIP LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
448,474
219,053

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

2023
2022
£
£



Falling due within one year
448,474
219,053

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

 
Page 8