Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31An Investment Holding EntityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalse2023-01-0100true OC401439 2023-01-01 2024-03-31 OC401439 2022-01-01 2022-12-31 OC401439 2024-03-31 OC401439 2022-12-31 OC401439 1 2023-01-01 2024-03-31 OC401439 c:CurrentFinancialInstruments 2024-03-31 OC401439 c:CurrentFinancialInstruments 2022-12-31 OC401439 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC401439 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 OC401439 d:FRS102 2023-01-01 2024-03-31 OC401439 d:AuditExempt-NoAccountantsReport 2023-01-01 2024-03-31 OC401439 d:FullAccounts 2023-01-01 2024-03-31 OC401439 d:LimitedLiabilityPartnershipLLP 2023-01-01 2024-03-31 OC401439 6 2023-01-01 2024-03-31 OC401439 d:PartnerLLP1 2023-01-01 2024-03-31 OC401439 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC401439 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 iso4217:GBP xbrli:pure

Registered number: OC401439










FAIRACRE (ASHTON) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
FAIRACRE (ASHTON) LLP
REGISTERED NUMBER: OC401439

BALANCE SHEET
AS AT 31 MARCH 2024

31
March
31 December
2024
2022
Note
£
£

Fixed assets
  

Investments
 4 
1
1

  
1
1

Current assets
  

Cash at bank and in hand
  
6
6

  
6
6

Creditors: Amounts falling due within one year
 5 
(20,926)
(18,300)

Net current liabilities
  
 
 
(20,920)
 
 
(18,294)

Total assets less current liabilities
  
(20,919)
(18,293)

  

Net liabilities
  
(20,919)
(18,293)


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Other reserves classified as equity

  

(20,919)
(18,293)

  
 
(20,919)
 
(18,293)

  
(20,919)
(18,293)


Total members' interests
  

Members' other interests
  
(20,919)
(18,293)

  
(20,919)
(18,293)


Page 1

 
FAIRACRE (ASHTON) LLP
REGISTERED NUMBER: OC401439
    
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 by: 




S H Russell
Designated member

Date: 19 September 2024

The notes on pages 4 to 6 form part of these financial statements.

Fairacre (Ashton) 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

 
FAIRACRE (ASHTON) LLP
 

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




Members' other interests
Other reserves
Total

£
£

Balance at 1 January 2022 
(16,236)
(16,236)

Loss for the year available for discretionary division among members
 
(2,057)
(2,057)

Members' interests after loss for the year
 
(18,293)
(18,293)

Balance at 31 December 2022
(18,293)
(18,293)

Loss for the period available for discretionary division among members
 
(2,626)
(2,626)

Members' interests after loss for the period
 
(20,919)
(20,919)

Balance at 31 March 2024 
(20,919)
(20,919)

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 3

 
FAIRACRE (ASHTON) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Fairacre (Ashton) Limited Liability Partnership is a limited liability partnership incorporated in England and Wales. The registered office is 2a Charing Cross Road, London, WC2H 0HF.                                           

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 financial statements are presented in Sterling (£), which is the functional currency of the LLP. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the members have a reasonable expectation that the LLP has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial
statements.

 
2.3

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.

 
2.4

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.

 
2.5

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 4

 
FAIRACRE (ASHTON) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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 (2022: Nil).


Page 5

 
FAIRACRE (ASHTON) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investments








Unlisted Investments

£



Cost or valuation


At 1 January 2023
1



At 31 March 2024
1






Net book value



At 31 March 2024
1



At 31 December 2022
1

Fixed asset investments not carried at market value
The company holds shares in an unlisted company. As they are unlisted, it has not been deemed possible to place a reliable market value on these investments. They have therefore been recognised at historical cost.

5.


Creditors: Amounts falling due within one year

31
March
31 December
2024
2022
£
£

Amounts owed to group undertakings
19,248
14,743

Accruals and deferred income
1,678
3,557

20,926
18,300


The amounts owed to group undertakings are unsecured, interest free and repayable on demand.


6.


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.





7.


Post balance sheet events

There were no material events subsequent to the period end that are required to be disclosed.
 
Page 6