Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseThe principal activity of the LLP is that of commercial property lettings.55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC418539 2023-04-01 2024-03-31 OC418539 2022-09-01 2023-03-31 OC418539 2024-03-31 OC418539 2023-03-31 OC418539 c:FreeholdInvestmentProperty 2024-03-31 OC418539 c:FreeholdInvestmentProperty 2023-03-31 OC418539 c:CurrentFinancialInstruments 2024-03-31 OC418539 c:CurrentFinancialInstruments 2023-03-31 OC418539 c:CurrentFinancialInstruments 2 2024-03-31 OC418539 c:CurrentFinancialInstruments 2 2023-03-31 OC418539 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC418539 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC418539 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 OC418539 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 OC418539 e:FRS102 2023-04-01 2024-03-31 OC418539 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC418539 e:FullAccounts 2023-04-01 2024-03-31 OC418539 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC418539 2 2023-04-01 2024-03-31 OC418539 6 2023-04-01 2024-03-31 OC418539 e:PartnerLLP1 2023-04-01 2024-03-31 OC418539 e:PartnerLLP2 2023-04-01 2024-03-31 OC418539 e:PartnerLLP3 2023-04-01 2024-03-31 OC418539 e:PartnerLLP4 2023-04-01 2024-03-31 OC418539 e:PartnerLLP5 2023-04-01 2024-03-31 OC418539 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC418539 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC418539 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC418539 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC418539 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC418539 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC418539 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC418539









CLORR PROPERTIES LLP







UNAUDITED

MEMBERS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CLORR PROPERTIES LLP
 

INFORMATION



Designated Members
C F Royds
J M Royds
L M N Royds
O J D Royds
R A N Royds
LLP registered number
OC418539

Registered office
Eighth Floor
6 New Street Square
New Fetter Lane
London
EC4A 3AQ

Accountants
Rawlinson & Hunter LLP
Chartered Accountants
Eighth Floor
6 New Street Square
New Fetter Lane
London
EC4A 3AQ


 
CLORR PROPERTIES LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 8


 
CLORR PROPERTIES LLP
REGISTERED NUMBER: OC418539

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
1
1

Investment property
 5 
2,591,418
2,591,418

  
2,591,419
2,591,419

Current assets
  

Debtors: amounts falling due within one year
 6 
94,298
83,324

Cash at bank and in hand
 7 
451,379
367,424

  
545,677
450,748

Creditors: Amounts Falling Due Within One Year
 8 
(46,381)
(51,847)

Net current assets
  
 
 
499,296
 
 
398,901

Total assets less current liabilities
  
3,090,715
2,990,320

  

Net assets
  
3,090,715
2,990,320


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
729,189
676,049

  
729,189
676,049

Members' other interests
  

Members' capital classified as equity
  
2,261,000
2,261,000

Other reserves classified as equity

  

100,526
53,271

  
 
2,361,526
 
2,314,271

  
3,090,715
2,990,320


Total members' interests
  

Amounts due from members (included in debtors)
 6 
(90,659)
(80,034)

Loans and other debts due to members
 10 
729,189
676,049

Members' other interests
  
2,361,526
2,314,271

  
3,000,056
2,910,286


Page 1

 
CLORR PROPERTIES LLP
REGISTERED NUMBER: OC418539
    
BALANCE SHEET (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 profit and loss account 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: 




J M Royds
Designated member

Date: 3 October 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
CLORR PROPERTIES LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Amounts due to members
676,049
676,049

Amounts due from members
 



(80,034)
(80,034)


Balance at 31 March 2023
2,261,000
53,271
2,314,271
596,015
596,015
2,910,286

Profit for the year available for discretionary division among members
 
-
100,526
100,526
-
-
100,526

Members' interests after profit for the year
2,261,000
153,797
2,414,797
596,015
596,015
3,010,812

Other division of profits
-
(53,271)
(53,271)
53,271
53,271
-

Amounts introduced by members
-
-
-
2,000
2,000
2,000

Drawings on account and distribution of profit
-
-
-
(12,756)
(12,756)
(12,756)

Amounts due to members
729,189
729,189

Amounts due from members
 



(90,659)
(90,659)


Balance at 31 March 2024 
2,261,000
100,526
2,361,526
638,530
638,530
3,000,056

The notes on pages 4 to 8 form part of these financial statements.

Under the LLP agreement the members' capital is only repayable at the discretion of the members as a body.

Page 3

 
CLORR PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Clorr Properties LLP is a Limited Liability Partnership incorporated in England and Wales with registration number OC418539. The registered office address is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the LLP will continue in operational existence for the foreseeable future. The LLP expects the continued support of the members who have confirmed they will provide such financial support as is necessary for the LLP to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing of the financial statements of the LLP.

 
2.3

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 derived from the LLP's investment property and is measured as the fair value of the rental income received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

 
2.4

Interest income

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

 
2.5

Investment property

Investment property is carried at fair value determined annually by members and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in unlisted  shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 4

 
CLORR PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

  
2.11

Taxation

In accordance with Section 10 of the Limited Liability Partnership Act 2000, any trade, profession or business carried on by the LLP is treated as though that business were carried on in partnership by its members. Accordingly, any liability to taxation is that of the members themselves and not of the LLP. Thus there is no provision for taxation in these financial statements.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 5

 
CLORR PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2023
1



At 31 March 2024
1





5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
2,591,418



At 31 March 2024
2,591,418

The members consider the cost of the investment property to be similar to the fair value on an existing use basis.







6.


Debtors

2024
2023
£
£


Prepayments and accrued income
3,639
3,290

Amounts due from members
90,659
80,034

94,298
83,324


Page 6

 
CLORR PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
451,379
367,424



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,380
8,656

Other taxation and social security
10,119
8,906

Accruals and deferred income
34,882
34,285

46,381
51,847



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
451,379
367,424




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 7

 
CLORR PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
729,189
676,049

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

2024
2023
£
£



Falling due within one year
729,189
676,049

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

 
Page 8