REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CAG Property LLP |
REGISTERED NUMBER: |
Report of the Members and |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CAG Property LLP |
CAG Property LLP (Registered number: OC398081) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
General Information | 1 |
Report of the Members | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Reconciliation of Members' Interests | 6 |
Notes to the Financial Statements | 8 |
CAG Property LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
29 Brandon Street |
Hamilton |
ML3 6DA |
CAG Property LLP (Registered number: OC398081) |
Report of the Members |
for the Year Ended 31 March 2024 |
The members present their report with the financial statements of the LLP for the year ended 31 March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the LLP in the year under review was that of property rental. |
DESIGNATED MEMBERS |
The designated members during the year under review were: |
RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS |
The profit for the year before members' remuneration and profit shares was £8,918 (2023 - £15,305 loss). |
MEMBERS' INTERESTS |
The profits and losses of the LLP are divided between the members in accordance with a specified percentage share of profits which may be agreed from time to time by the majority of members. |
Members are entitled to draw to account on their share of profits and interest on capital such sums as may be agreed from time to time by the majority of members. |
STATEMENT OF MEMBERS' RESPONSIBILITIES |
The members are responsible for preparing the Report of the Members and the financial statements in accordance with applicable law and regulations. |
Legislation applicable to limited liability partnerships requires the members to prepare financial statements for each financial year. Under that law the members have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under legislation applicable to limited liability partnerships the members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the LLP and of the profit or loss of the LLP for that period. In preparing these financial statements, the members are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the LLP will continue in business. |
The members are responsible for keeping adequate accounting records that are sufficient to show and explain the LLP's transactions and disclose with reasonable accuracy at any time the financial position of the LLP and enable them to ensure that the financial statements comply with the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008. They are also responsible for safeguarding the assets of the LLP and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
ON BEHALF OF THE MEMBERS: |
CAG Property LLP (Registered number: OC398081) |
Income Statement |
for the Year Ended 31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
(90,524 | ) | (102,933 | ) |
Other operating income |
OPERATING PROFIT/(LOSS) and |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS |
( |
) |
CAG Property LLP (Registered number: OC398081) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
2,079,845 |
2,100,747 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
8 |
382,366 |
403,268 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 1,697,479 | 1,697,479 |
2,079,845 | 2,100,747 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 8 | 382,366 | 403,268 |
Members' other interests | 1,697,479 | 1,697,479 |
2,079,845 | 2,100,747 |
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. |
CAG Property LLP (Registered number: OC398081) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the members of the LLP and authorised for issue on |
CAG Property LLP (Registered number: OC398081) |
Reconciliation of Members' Interests |
for the Year Ended 31 March 2024 |
EQUITY |
Members' other interests |
Members' |
capital |
(classified |
as | Other |
equity) | reserves | Total |
£ | £ | £ |
Balance at 1 April 2023 | 1,697,479 | - | 1,697,479 |
Profit for the financial year available for discretionary division among members |
- |
8,918 |
8,918 |
Members' interests after profit for the year | 1,697,479 | 8,918 | 1,706,397 |
Other divisions of profit | - | (8,918 | ) | (8,918 | ) |
Drawings on account and distributions of profit | - | - | - |
Balance at 31 March 2024 | 1,697,479 | - | 1,697,479 |
DEBT | TOTAL |
Loans and other debts due to | MEMBERS' |
members less any amounts due | INTERESTS |
from members in debtors |
Other |
amounts | Total |
£ | £ |
Amount due to members | 403,268 |
Amount due from members | - |
Balance at 1 April 2023 | 403,268 | 2,100,747 |
Profit for the financial year available for discretionary division among members |
- |
8,918 |
Members' interests after profit for the year | 403,268 | 2,109,665 |
Other divisions of profit | 8,918 | - |
Drawings on account and distributions of profit | (29,820 | ) | (29,820 | ) |
Amount due to members | 382,366 |
Amount due from members | - |
Balance at 31 March 2024 | 382,366 | 2,079,845 |
CAG Property LLP (Registered number: OC398081) |
Reconciliation of Members' Interests |
for the Year Ended 31 March 2024 |
EQUITY |
Members' other interests |
Members' |
capital |
(classified |
as | Other |
equity) | reserves | Total |
£ | £ | £ |
Balance at 1 April 2022 | 1,697,479 | - | 1,697,479 |
Loss for the financial year available for discretionary division among members |
- |
(15,305 |
) |
(15,305 |
) |
Members' interests after loss for the year | 1,697,479 | (15,305 | ) | 1,682,174 |
Other divisions of loss | - | 15,305 | 15,305 |
Drawings on account and distributions of profit | - | - | - |
Balance at 31 March 2023 | 1,697,479 | - | 1,697,479 |
DEBT | TOTAL |
Loans and other debts due to | MEMBERS' |
members less any amounts due | INTERESTS |
from members in debtors |
Other |
amounts | Total |
£ | £ |
Amount due to members | 429,041 |
Amount due from members | - |
Balance at 1 April 2022 | 429,041 | 2,126,520 |
Loss for the financial year available for discretionary division among members |
- |
(15,305 |
) |
Members' interests after loss for the year | 429,041 | 2,111,215 |
Other divisions of loss | (15,305 | ) | - |
Drawings on account and distributions of profit | (10,468 | ) | (10,468 | ) |
Amount due to members | 403,268 |
Amount due from members | - |
Balance at 31 March 2023 | 403,268 | 2,100,747 |
CAG Property LLP (Registered number: OC398081) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
CAG Property LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss. |
At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred. |
4. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
5. | OPERATING PROFIT/(LOSS) |
The operating profit (2023 - operating loss) is stated after charging: |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
CAG Property LLP (Registered number: OC398081) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
8. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
Loans and other debts due to members would rank before other creditors. |