REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
CUMBRIAN HOUSE LLP |
REGISTERED NUMBER: |
REPORT OF THE MEMBERS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
CUMBRIAN HOUSE LLP |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
General Information | 1 |
Report of the Members | 2 |
Profit and loss | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
CUMBRIAN HOUSE LLP |
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
First Floor, Winston House |
349 Regents Park Road |
London |
N3 1DH |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
REPORT OF THE MEMBERS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
The members present their report with the financial statements of the LLP for the year ended 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of investment property. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The loss for the year before members' remuneration and profit shares was £8,293 (2022 - £7,018 profit). |
MEMBERS' INTERESTS |
Subscriptions and repayments of members' capital contributions are made in accordance with a Limited Liability Partnership Agreement. Amounts subscribed and repaid during the period are as disclosed in the accounts. |
ON BEHALF OF THE MEMBERS: |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
PROFIT AND LOSS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
(40,718 | ) | (33,928 | ) |
Other operating income |
OPERATING PROFIT |
Interest payable and similar expenses |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
(8,293 |
) |
7,018 |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES |
(8,293 |
) |
7,018 |
Members' remuneration charged as an expense |
4 |
8,293 |
(7,018 |
) |
PROFIT FOR THE FINANCIAL YEAR AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
370,962 |
379,255 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
10 |
49,404 |
57,697 |
MEMBERS' OTHER INTERESTS |
Other reserves |
370,962 | 379,255 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 10 | 49,404 | 57,697 |
Members' other interests | 321,558 | 321,558 |
Amounts due from members | 6 | (118,749 | ) | (119,051 | ) |
252,213 | 260,204 |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
The members acknowledge their responsibilities for: |
(a) | ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
The financial statements were approved by the members of the LLP and authorised for issue on |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Cumbrian House LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Debt instruments are subsequently measured at amortised cost unless they are classified as receivable within one year in which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net of impairment. |
Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid. |
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 or settle the liability simultaneously. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INFORMATION IN RELATION TO MEMBERS |
2023 | 2022 |
£ | £ |
Members' remuneration charged as an expense |
Automatic division of (loss)/profit | (8,293 | ) | 7,018 |
5. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | INVESTMENT PROPERTY - continued |
Cost or valuation at 31 December 2023 is represented by: |
£ |
Valuation in 2019 | 321,558 |
Cost | 863,442 |
1,185,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 863,442 | 863,442 |
Investment property was valued on an open market basis on 31 December 2022 by a member of the LLP . |
6. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 4,208 | 7,178 |
CUMBRIAN HOUSE LLP (REGISTERED NUMBER: OC370520) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank Loan | 897,000 | 897,000 |
10. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members rank pari passu with other unsecured debts. |