Acorah Software Products - Accounts Production 15.0.600 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 OC434048 iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC434048 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-11-30 OC434048 2022-11-30 OC434048 2023-11-30 OC434048 2022-12-01 2023-11-30 OC434048 frs-core:Non-currentFinancialInstruments 2023-11-30 OC434048 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-11-30 OC434048 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 OC434048 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-11-30 OC434048 frs-bus:LimitedLiabilityPartnershipLLP 2022-12-01 2023-11-30 OC434048 frs-bus:LimitedLiabilityPartnershipsSORP 2022-12-01 2023-11-30 OC434048 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 OC434048 frs-bus:SmallEntities 2022-12-01 2023-11-30 OC434048 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 OC434048 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 OC434048 frs-countries:EnglandWales 2022-12-01 2023-11-30 OC434048 frs-bus:PartnerLLP1 2022-12-01 2023-11-30 OC434048 frs-bus:PartnerLLP2 2022-12-01 2023-11-30 OC434048 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2022-11-30 OC434048 2021-11-30 OC434048 2022-11-30 OC434048 2021-12-01 2022-11-30 OC434048 frs-core:Non-currentFinancialInstruments 2022-11-30
Registered number: OC434048
Shrez And Tom Properties LLP
Unaudited Financial Statements
For The Year Ended 30 November 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC434048
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,259,691 1,273,820
1,259,691 1,273,820
CURRENT ASSETS
Debtors 5 2,555 2,039
Cash at bank and in hand 13,449 18,611
16,004 20,650
Creditors: Amounts Falling Due Within One Year 6 (3,750 ) (625 )
NET CURRENT ASSETS (LIABILITIES) 12,254 20,025
TOTAL ASSETS LESS CURRENT LIABILITIES 1,271,945 1,293,845
Creditors: Amounts Falling Due After More Than One Year 7 (641,796 ) (652,918 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 630,149 640,927
REPRESENTED BY:
Loans and other debts due to members
Members' capital classified as a liability 318,680 318,680
Other amounts 8,320 8,740
327,000 327,420
Equity
Members' other interests
Revaluation reserve 313,507 313,507
Other reserves (10,358) -
303,149 313,507
630,149 640,927
TOTAL MEMBERS' INTEREST
Loans and other debts due to members 327,000 327,420
Members' other interests 303,149 313,507
630,149 640,927
Page 1
Page 2
For the year ending 30 November 2023 the LLP 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Thomas Fairburn
Partner
Ms Shreenal Ghelani
Partner
30 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shrez And Tom Properties LLP is a limited liability partnership, incorporated in England & Wales, registered number OC434048 . The Registered Office is 11/12 Hallmark Trading Centre Fourth Way, Wembley, Middlesex, HA9 0LB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2018, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 November 2022 are the first financial statements of Shrez And Tom Properties LLP prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 3 November 2020. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102. 
 The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover represents the amounts recoverable for the services provided to clients, excluding value added tax,
under contractual obligations which are performed gradually over time.
If, at the Balance sheet date, completion of contractual obligations is dependent on external factors (and thus
outside the control of the Limited Liability Partnership), then revenue is recognised only when the event
occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Cost
2.4. Financial Instruments
The limited liability partnership has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’
and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the limited liability partnership's statement of financial position when
the limited liability partnership becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when
there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of
impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.
If an asset is impaired, the impairment loss is the difference between the carrying amount and the present
value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss
is recognised in profit or loss.
...CONTINUED
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2.4. Financial Instruments - continued
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been, had the impairment not previously been recognised. The
impairment reversal is recognised in profit or loss.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes a financing transaction, where the debt instrument is measured at the present value of the future
payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are
not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method
2.5. Members Participating Interests
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. A member's 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. Undivided 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.
Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.
2.6. Impairement of fixed assets
At each reporting period end date, the limited liability partnership reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the limited liability partnership estimates the recoverable amount of the cash-generating unit to which the
asset belongs.
2.7. Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is
more representative of the time pattern in which economic benefits from the leased asset are consumed
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was: NIL (2022: NIL)
- -
Page 4
Page 5
4. Tangible Assets
Land & Property
Freehold
£
Cost or Valuation
As at 1 December 2022 1,295,807
As at 30 November 2023 1,295,807
Depreciation
As at 1 December 2022 21,987
Provided during the period 14,129
As at 30 November 2023 36,116
Net Book Value
As at 30 November 2023 1,259,691
As at 1 December 2022 1,273,820
5. Debtors
2023 2022
£ £
Due within one year
Amounts owed by group undertakings 1,800 -
Other debtors 755 2,039
2,555 2,039
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 3,750 625
3,750 625
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 641,796 652,918
641,796 652,918
8. Loans
An analysis of the maturity of loans is given below:
2023 2022
£ £
Amounts falling due between one and five years:
Bank loans 641,796 652,918
641,796 652,918
Page 5