Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31falsetruetrue2022-09-01falseProperty investment00The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC309833 2022-09-01 2023-08-31 OC309833 2021-09-01 2022-08-31 OC309833 2023-08-31 OC309833 2022-08-31 OC309833 c:FreeholdInvestmentProperty 2023-08-31 OC309833 c:FreeholdInvestmentProperty 2022-08-31 OC309833 c:CurrentFinancialInstruments 2023-08-31 OC309833 c:CurrentFinancialInstruments 2022-08-31 OC309833 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC309833 c:CurrentFinancialInstruments c:WithinOneYear 2022-08-31 OC309833 d:FRS102 2022-09-01 2023-08-31 OC309833 d:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 OC309833 d:FullAccounts 2022-09-01 2023-08-31 OC309833 d:LimitedLiabilityPartnershipLLP 2022-09-01 2023-08-31 OC309833 d:PartnerLLP1 2022-09-01 2023-08-31 OC309833 c:FurtherSpecificReserve2ComponentTotalEquity 2023-08-31 OC309833 c:FurtherSpecificReserve2ComponentTotalEquity 2022-08-31 OC309833 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure
Registered number: OC309833














FORMANS LLP
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

 
FORMANS LLP
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 5


 
FORMANS LLP
REGISTERED NUMBER:OC309833

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
5,000,000
5,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
400
3,250

Cash at bank and in hand
  
3,594
6,863

  
3,994
10,113

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(364,058)
(442,814)

Net current liabilities
  
 
 
(360,064)
 
 
(432,701)

  

Net assets
  
4,639,936
4,567,299


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
208,095
208,095

Members' other interests
  

Other reserves classified as equity
  
4,431,841
4,359,204

  
4,639,936
4,567,299


Total members' interests
  

Loans and other debts due to members
 7 
208,095
208,095

Members' other interests
  
4,431,841
4,359,204

  
4,639,936
4,567,299


Page 1

 
FORMANS LLP
REGISTERED NUMBER:OC309833
    
STATEMENT OF FINANCIAL POSITION (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 on 27 August 2024.




L P Anisfeld
Designated member

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

Formans 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

 
FORMANS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

Formans LLP is a limited liability partnership incorporated in England and Wales. Its registered address is Stour Road, Fish Island, Bow, London, E3 2NT.
The principal activity of the LLP continued to be that of property investment.
The functional and presentational currency of the LLP is £ Sterling.

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

Turnover

Turnover comprises revenue recognised by the LLP in respect of rent receivable exclusive of Value Added Tax.
Rent is recognised in the period to which it relates.

 
2.3

Investment property

Investment property is carried at fair value determined annually by 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 the Statement of Comprehensive Income.

 
2.4

Debtors

Short term debtors are measured at the transaction price, less any impairment. 

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.6

Creditors

Short term creditors are measured at the transaction price. 

Page 3

 
FORMANS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.7

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 .


3.


Employees

The entity has no employees.


4.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
5,000,000



At 31 August 2023
5,000,000

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



At 31 August 2023





5.


Debtors

2023
2022
£
£


Other debtors
350
3,200

Prepayments and accrued income
50
50

400
3,250


Page 4

 
FORMANS LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
284
-

Other creditors
361,423
440,462

Accruals and deferred income
2,351
2,352

364,058
442,814



7.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
208,095
208,095

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

2023
2022
£
£



Falling due within one year
208,095
208,095

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

 
Page 5