Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC332077 2023-04-01 2024-03-31 OC332077 2021-11-01 2023-03-31 OC332077 2024-03-31 OC332077 2023-03-31 OC332077 c:MotorVehicles 2023-04-01 2024-03-31 OC332077 c:MotorVehicles 2024-03-31 OC332077 c:MotorVehicles 2023-03-31 OC332077 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC332077 c:OfficeEquipment 2023-04-01 2024-03-31 OC332077 c:OfficeEquipment 2024-03-31 OC332077 c:OfficeEquipment 2023-03-31 OC332077 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC332077 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC332077 c:FreeholdInvestmentProperty 2024-03-31 OC332077 c:FreeholdInvestmentProperty 2023-03-31 OC332077 c:CurrentFinancialInstruments 2024-03-31 OC332077 c:CurrentFinancialInstruments 2023-03-31 OC332077 c:Non-currentFinancialInstruments 2024-03-31 OC332077 c:Non-currentFinancialInstruments 2023-03-31 OC332077 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC332077 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC332077 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC332077 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC332077 d:FRS102 2023-04-01 2024-03-31 OC332077 d:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC332077 d:FullAccounts 2023-04-01 2024-03-31 OC332077 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC332077 6 2023-04-01 2024-03-31 OC332077 d:PartnerLLP1 2023-04-01 2024-03-31 OC332077 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC332077 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC332077 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC332077 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC332077 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC332077










The Tramway Stables LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 March 2024

 
The Tramway Stables LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of The Tramway Stables LLP for the year ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of The Tramway Stables LLP for the year ended 31 March 2024 which comprise the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 30 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of The Tramway Stables LLP and state those matters that we have agreed to state to the The Tramway Stables LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Tramway Stables LLP and its members for our work or for this report. 

It is your duty to ensure that The Tramway Stables LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Tramway Stables LLP. You consider that The Tramway Stables LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Tramway Stables LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Canterbury
12 August 2024
Page 1

 
The Tramway Stables LLP
Registered number: OC332077

Balance sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,171
1,561

Investments
 5 
8,800
8,800

Investment property
 6 
650,000
650,000

  
659,971
660,361

Current assets
  

Debtors: amounts falling due within one year
 7 
27,542
21,001

Cash at bank and in hand
  
3,245
7,734

  
30,787
28,735

Creditors: Amounts Falling Due Within One Year
 8 
(41,492)
(44,420)

Net current liabilities
  
 
 
(10,705)
 
 
(15,685)

Total assets less current liabilities
  
649,266
644,676

Creditors: amounts falling due after more than one year
 9 
(221,081)
(244,973)

  
428,185
399,703

  

Net assets
  
428,185
399,703


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
286,727
258,245

  
286,727
258,245

Members' other interests
  

Other reserves classified as equity
  
141,458
141,458

  
 
141,458
 
141,458

  
428,185
399,703


Total members' interests
  

Loans and other debts due to members
  
286,727
258,245

Members' other interests
  
141,458
141,458

  
428,185
399,703


Page 2

 
The Tramway Stables LLP
Registered number: OC332077

Balance sheet (continued)
As at 31 March 2024

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 12 August 2024.




G W T Hollaway
Designated member

The notes on pages 4 to 9 form part of these financial statements.

The Tramway Stables 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 3

 
The Tramway Stables LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

1.


General information

The Tramway Stables LLP is a limited liability partnership incorporated in England and Wales with the registered number OC332077.
 
The LLP's registered office is The Tramway Stables, Rampart Road, Hythe, Kent, CT21 5BG.

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 financial statements are presented in pound Sterling and rounded to the nearest pound. 

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.

Revenue represents rental income and consultancy fees receivable, excluding value added tax.
Rental income is recognised on an acruals basis. Consultancy income is recognised over the period the service is provided.

 
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 4

 
The Tramway Stables LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
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. 

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing balance
Office equipment
-
50%
Straight line

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

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.7

Valuation of investments

Investments in unlisted LLP shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

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.

 
2.9

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.

 
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.

Page 5

 
The Tramway Stables LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
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.

Impairment of financial assets

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

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.

Page 6

 
The Tramway Stables LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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.

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 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 2 (2023 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
28,616
2,890
31,506



At 31 March 2024

28,616
2,890
31,506



Depreciation


At 1 April 2023
27,055
2,890
29,945


Charge for the year on owned assets
390
-
390



At 31 March 2024

27,445
2,890
30,335



Net book value



At 31 March 2024
1,171
-
1,171

Page 7

 
The Tramway Stables LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2023
8,800



At 31 March 2024
8,800





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
650,000



At 31 March 2024
650,000

The 2024 valuations were made by the members, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Other debtors
26,802
17,494

Prepayments and accrued income
740
3,507

27,542
21,001



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
35,153
31,075

Trade creditors
131
210

Other taxation and social security
2,249
4,411

Accruals and deferred income
3,959
8,724

41,492
44,420


Page 8

 
The Tramway Stables LLP
 

 
Notes to the financial statements
For the year ended 31 March 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
221,081
244,973

221,081
244,973



10.


Related party transactions

All related party transactions during the current and prior periods, including key management compensation, were concluded under normal market conditions.
G W T Hollaway, a member of the LLP, has a charge against the LLP in respect of £195,000 (2023 - £195,000) due, or to become due, to himself and is secured on the Investment Property. 


11.


Controlling party

The LLP is under control of its designated members.


Page 9