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REGISTERED NUMBER: OC370520 (England and Wales)




















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: Yelkus 2 Limited
Z Greenglick





REGISTERED OFFICE: First Floor, Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: OC370520 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
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:

Yelkus 2 Limited
Z Greenglick

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:





Z Greenglick - Designated member


26 September 2024

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
(40,718 ) (33,928 )

Other operating income 96,976 75,694
OPERATING PROFIT 56,258 41,766


Interest payable and similar expenses 64,551 34,748
(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 1,185,000 1,185,000

CURRENT ASSETS
Debtors 6 130,460 133,954
Cash at bank 6,892 15,292
137,352 149,246
CREDITORS
Amounts falling due within one year 7 935,301 935,932
NET CURRENT LIABILITIES (797,949 ) (786,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

387,051

398,314

CREDITORS
Amounts falling due after more than one year 8 16,089 19,059
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 321,558 321,558
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 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 have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP and authorised for issue on 26 September 2024 and were signed by:





Z Greenglick - Designated member

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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 1,185,000
NET BOOK VALUE
At 31 December 2023 1,185,000
At 31 December 2022 1,185,000

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 7,813 11,005
Other debtors 3,898 3,898
11,711 14,903

Amounts falling due after more than one year:
Other debtors 118,749 119,051

Aggregate amounts 130,460 133,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 899,970 899,970
Trade creditors 30,358 29,033
Other creditors 4,973 6,929
935,301 935,932

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 16,089 19,059

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.