Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2022-10-10No description of principal activity10falsefalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC444190 2022-10-09 OC444190 2022-10-10 2024-03-31 OC444190 2021-10-10 2022-10-09 OC444190 2024-03-31 OC444190 c:CurrentFinancialInstruments 2024-03-31 OC444190 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC444190 d:FRS102 2022-10-10 2024-03-31 OC444190 d:AuditExempt-NoAccountantsReport 2022-10-10 2024-03-31 OC444190 d:FullAccounts 2022-10-10 2024-03-31 OC444190 d:LimitedLiabilityPartnershipLLP 2022-10-10 2024-03-31 OC444190 2 2022-10-10 2024-03-31 OC444190 d:PartnerLLP1 2022-10-10 2024-03-31 OC444190 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC444190 e:PoundSterling 2022-10-10 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC444190









UPLIFT PROPERTY 3 LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
UPLIFT PROPERTY 3 LLP
REGISTERED NUMBER: OC444190

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
Note
£

  

Current assets
  

Stocks
 4 
1,976,220

Debtors: amounts falling due within one year
 5 
17,111

Cash at bank and in hand
 6 
537,990

  
2,531,321

Creditors: Amounts Falling Due Within One Year
 7 
(729,201)

Net current assets
  
 
 
1,802,120

Total assets less current liabilities
  
1,802,120

  

Net assets
  
1,802,120


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
1,802,120

  
1,802,120

  

  
1,802,120


Total members' interests
  

Loans and other debts due to members
 8 
1,802,120

  
1,802,120


Page 1

 
UPLIFT PROPERTY 3 LLP
REGISTERED NUMBER: OC444190
    
STATEMENT OF FINANCIAL POSITION (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: 




Hutchings Walk Limited
Designated member

Date: 10 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Uplift Property 3 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

 
UPLIFT PROPERTY 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Uplift Property 3 LLP is a limited liability partnership incorporated in England and Wales (registered number OC444190). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.  
The LLP was incorporated on 10th October 2022.
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
UPLIFT PROPERTY 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

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.


3.


Employees

The average monthly number of employees, including directors, during the period was 10.

Page 4

 
UPLIFT PROPERTY 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Stocks

2024
£

Property stock
1,976,220

1,976,220



5.


Debtors

2024
£


Other debtors
17,111

17,111



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
537,990

537,990



7.


Creditors: Amounts falling due within one year

2024
£

Accruals and deferred income
729,201

729,201


Page 5

 
UPLIFT PROPERTY 3 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
£



Other amounts due to members
1,802,120

1,802,120

Loans and other debts due to members may be further analysed as follows:

2024
£



Falling due within one year
1,802,120

1,802,120

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

 
Page 6