Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31002023-04-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC381793 2023-04-01 2024-03-31 OC381793 2022-04-01 2023-03-31 OC381793 2024-03-31 OC381793 2023-03-31 OC381793 c:FreeholdInvestmentProperty 2024-03-31 OC381793 c:FreeholdInvestmentProperty 2023-03-31 OC381793 c:CurrentFinancialInstruments 2024-03-31 OC381793 c:CurrentFinancialInstruments 2023-03-31 OC381793 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC381793 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC381793 d:FRS102 2023-04-01 2024-03-31 OC381793 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC381793 d:FullAccounts 2023-04-01 2024-03-31 OC381793 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC381793 d:PartnerLLP1 2023-04-01 2024-03-31 OC381793 d:PartnerLLP2 2023-04-01 2024-03-31 OC381793 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC381793 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC381793 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC381793 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: OC381793







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


GARTHWAITE PROPERTY LLP






































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GARTHWAITE PROPERTY LLP
 



INFORMATION




Designated Members

A W D Garthwaite
G B Garthwaite

LLP registered number

OC381793

Registered office

Ashcombe House5 The CrescentLeatherheadSurreyKT22 8DY

Accountants

Menzies LLPAshcombe House5 The CrescentLeatherheadSurreyKT22 8DY


 


GARTHWAITE PROPERTY LLP
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


GARTHWAITE PROPERTY LLP
REGISTERED NUMBER:OC381793



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,300,000
1,300,000

  
1,300,000
1,300,000

Current assets
  

Debtors: amounts falling due within one year
 5 
14,805
4,667

Cash at bank and in hand
  
4,438
28,970

  
19,243
33,637

Creditors: Amounts Falling Due Within One Year
 6 
(39,881)
(43,199)

Net current liabilities
  
 
 
(20,638)
 
 
(9,562)

Total assets less current liabilities
  
1,279,362
1,290,438

  

Net assets attributable to members
  
1,279,362
1,290,438


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
2,839
13,915

  
2,839
13,915

Members' other interests
  

Members' capital classified as equity
  
1,276,523
1,276,523

  
 
1,276,523
 
1,276,523

  
1,279,362
1,290,438


Total members' interests
  

Loans and other debts due to members
 7 
2,839
13,915

Members' other interests
  
1,276,523
1,276,523

  
1,279,362
1,290,438


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.
 
Page 1

 


GARTHWAITE PROPERTY LLP
REGISTERED NUMBER:OC381793


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


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 income statement 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: 




G B Garthwaite
Designated member

Date: 2 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


GARTHWAITE PROPERTY LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


Limited liability partnership information

Garthwaite Property LLP is a limited liability partnership incorporated in England and Wales. The registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY.

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

Going concern

At 31 March 2024 the LLP's balance sheet shows net current liabilities of £20,638 (2023: £9,562). In recent years the LLP has been supported by the members current accounts. At the year end the balance owed to the members totalled £2,839 (2023: £13,915). The members have confirmed that they will continue to support the LLP for the forseeable future. Consequently the accounts have been drawn up on a going concern basis.

 
2.3

Revenue

Revenue represents amounts receivable for rent and property costs recharged net of VAT.

 
2.4

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 Income Statement.

 
2.5

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, loans to related parties and investments in ordinary shares.

Page 3

 


GARTHWAITE PROPERTY LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.6

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
 
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
 
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
 
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of financial position.
 
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of comprehensive income and are equity appropriations in the Statement of financial position.
 
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
 
All amounts due to members that are classified as liabilities are presented in the Statement of financial position within 'Loans and other debts due to members' and are charged to the Statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of financial position within 'Members' other interests'.


3.


Employees

The entity has no employees.

Page 4

 


GARTHWAITE PROPERTY LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,300,000



At 31 March 2024
1,300,000

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





5.


Debtors

2024
2023
£
£


Trade debtors
8,356
-

Prepayments and accrued income
6,449
4,667

14,805
4,667



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
8,596
11,796

Trade creditors
2,400
2,400

Accruals and deferred income
28,885
29,003

39,881
43,199


Page 5

 


GARTHWAITE PROPERTY LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Loans and other debts due to members


2024
2023
£
£



Amounts owed to members in respect of profits
2,839
13,915

2,839
13,915

In the event of a winding up of the amounts included in "loans and other debts due to members" will rank equally with unsecured creditors.






 
Page 6