Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01truetruetrueThe principal activity of the LLP during the year was that of a pharmacy.11false OC377647 2023-04-01 2024-03-31 OC377647 2022-04-01 2023-03-31 OC377647 2024-03-31 OC377647 2023-03-31 OC377647 c:CurrentFinancialInstruments 2024-03-31 OC377647 c:CurrentFinancialInstruments 2023-03-31 OC377647 d:EntityNoLongerTradingButTradedInPast 2023-04-01 2024-03-31 OC377647 d:FRS102 2023-04-01 2024-03-31 OC377647 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC377647 d:FullAccounts 2023-04-01 2024-03-31 OC377647 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC377647 c:WithinOneYear 2024-03-31 OC377647 c:WithinOneYear 2023-03-31 OC377647 c:BetweenOneFiveYears 2024-03-31 OC377647 c:BetweenOneFiveYears 2023-03-31 OC377647 c:MoreThanFiveYears 2024-03-31 OC377647 c:MoreThanFiveYears 2023-03-31 OC377647 4 2023-04-01 2024-03-31 OC377647 d:PartnerLLP1 2023-04-01 2024-03-31 OC377647 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC377647 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC377647 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC377647 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC377647 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC377647









DENMARK STREET HEALTHCARE LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
DENMARK STREET HEALTHCARE LLP
 

CONTENTS



Page
Members' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3 - 4
Reconciliation of Members' Interests
5
Notes to the Financial Statements
6 - 9


 
DENMARK STREET HEALTHCARE LLP
 
  
MEMBERS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The Members present their annual report together with the financial statements of Denmark Street Healthcare LLP ("the LLP") for the year ended 31 March 2024
 

Principal activities
 
 
The principal activity of the LLP continued to be that of a dormant LLP.
The principal activity of the LLP was that of a pharmacy. On 31 March 2022, 50% of member's equity capital was acquired by Day Lewis Plc, a parent company of Community Pharmacies (UK) Limited.
The LLP ceased trading on 1 April 2022 and the trade and assets were hived up into Day Lewis Plc.
 
 
Designated Members
 
 
The Designated Members who held office during the year and up to the date of signature of the financial statements were as follows:
Community Pharmacies (UK) Limited
Day Lewis Plc
 

 
Members' capital and interests
 
 
Each Member's subscription to the capital of the LLP is determined in accordance with the terms of the LLP Agreement.
 
 
Details of changes in Members' capital in the year ended 31 March 2024 are set out in the Reconciliation of Members' Interests.
 
 
Members are remunerated from the profits of the LLP and are required to make their own provision for tax, pensions and other benefits. Profits are allocated and divided between Members after finalisation of the financial statements. Members may draw a proportion of their profit share monthly during the year in which it is made, with the balance of profits being distributed after the year end, subject to the cash requirements of the business.
 

This report was approved by the Members and signed on their behalf by: 






................................................
Community Pharmacies (UK) Limited 
Designated Member

Date: 5 September 2024
Page 1

 
DENMARK STREET HEALTHCARE LLP
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Profit on hive up at fair value
  
-
965,334

Operating profit
  
 
-
 
965,334

Profit for the year before members' remuneration and profit shares available for discretionary division among members
  
 
-
 
965,334

There was no other comprehensive income for 2024(2023: £NIL).

The notes on pages 6 to 9 form part of these financial statements.

Page 2

 
DENMARK STREET HEALTHCARE LLP
REGISTERED NUMBER: OC377647

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
715,194
715,194

  
715,194
715,194

Total assets less current liabilities
  
 
 
715,194
 
 
715,194

  

Net assets
  
715,194
715,194


Represented by:
  

Members' other interests
  

Members' capital classified as equity
  
2
2

Other reserves classified as equity

  

715,192
715,192

  
 
715,194
 
715,194

  
715,194
715,194


Total members' interests
  

Members' other interests
  
715,194
715,194

  
715,194
715,194


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 480 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 financial statements were approved and authorised for issue by the Members and were signed on their behalf by: 


................................................
Community Pharmacies (UK) Limited
Designated Member

Date: 5 September 2024
Page 3

 
DENMARK STREET HEALTHCARE LLP
REGISTERED NUMBER: OC377647
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


The notes on pages 6 to 9 form part of these financial statements.

Page 4

 
DENMARK STREET HEALTHCARE LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024








EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Amounts due in respect of profits
Other amounts
Total
Total

£
£
£
£
£
£
£

Amounts due to Members 

102,320
215,610
317,930


Balance at 1 April 2022 

2
(250,142)
(250,140)
102,320
215,610
317,930
67,790

Profit for the year available for discretionary division among members
 
-
965,334
965,334
-
-
-
965,334

Drawings
-
-
-
(102,320)
-
(102,320)
(102,320)

Repayment of debt
 
-
-
-
-
(215,610)
(215,610)
(215,610)

Balance at 31 March 2023
 
2
715,192
715,194
-
-
-
715,194

Balance at 31 March 2024 
2
715,192
715,194
-
-
-
715,194

The notes on pages 6 to 9 form part of these financial statements.

There are no existing restrictions or limitations which impact the ability of the Members of the LLP to reduce the amount of Members' other interests.

Page 5

 
DENMARK STREET HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Denmark Street Healthcare LLP ("the LLP") is a limited liability partnership incorporated in England and Wales. The registered office is 2 Peterwood Way, Croydon, Surrey, United Kingdom, CR0 4UQ.
The LLP's principal activities and nature of its operations are disclosed in the Members' Report.

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 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the LLP's accounting policies (see note 3).

The financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

 
2.2

Going concern

As the Members do not intend to acquire a replacement trade, the Members have not prepared the financial statements on a going concern basis.

Page 6

 
DENMARK STREET HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.3

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. Members' participation rights, including amounts subscribed or otherwise contributed by Members, for example Members' capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to Members, in which case they are classified as equity.
All amounts due to Members that are classified as liabilities are presented within 'Loans and other debts due to Members' and, where such an amount relates to current year profits, they are recognised within ‘Members' remuneration charged as an expense’ in arriving at the relevant year’s result. Unallocated amounts that are classified as equity are shown within ‘Members' other interests’. Amounts recoverable from Members are presented as debtors and shown as amounts due from Members within Members’ interests.
Where there exists an asset and liability component in respect of an individual Member’s participation rights, they are presented on a gross basis unless the LLP has both a legally enforceable right to set off the recognised amounts and it intends either to settle on a net basis or to settle and realise these amounts simultaneously, in which case they are presented net.
Whilst the Members’ agreement does not differentiate between profits and losses for profit sharing purposes, it does stipulate that the LLP cannot demand additional contributions from Members and as a result the LLP does not have an unconditional right to demand payment from Members for losses. Therefore, they are not recognised as a recoverable asset and so remain within equity as other reserves.
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. Amounts payable to Members under employment contracts and unavoidable interest on Members capital are charged to “Members remuneration charged as an expense” in the relevant year.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the LLP but are presented separately due to their size or incidence.

Page 7

 
DENMARK STREET HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the LLP's accounting policies, which are described in note 2, the Members are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
There are no critical judgements and estimations that the Members have made in the process of applying the LLP's accounting policies that have the significant effect on the amounts recognised in the financial statements.


4.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
715,194
715,194

715,194
715,194



5.


Loans and other debts due to Members

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


6.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
-
12,251

Later than 1 year and not later than 5 years
-
49,005

Later than 5 years
-
60,417

-
121,673

Page 8

 
DENMARK STREET HEALTHCARE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Related party transactions

Community Pharmacies (UK) Limited is a designated Member.
Day Lewis Plc is a designated member.
At 31 March 2024, the LLP was owed £715,194 (2023 - £715,194) by Day Lewis Plc.

Page 9