REGISTERED NUMBER: |
Financial Statements For The Year Ended 31 March 2024 |
for |
TWINPLANE (UK) LLP |
REGISTERED NUMBER: |
Financial Statements For The Year Ended 31 March 2024 |
for |
TWINPLANE (UK) LLP |
TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092) |
Contents of the Financial Statements |
For The Year Ended 31 March 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092) |
Balance Sheet |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS ATTRIBUTABLE TO MEMBERS |
7,020,363 |
6,613,341 |
TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092) |
Balance Sheet - continued |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
- |
- |
MEMBERS' OTHER INTERESTS |
Capital accounts | 7,020,363 | 6,613,341 |
7,020,363 | 6,613,341 |
TOTAL MEMBERS' INTERESTS |
Members' other interests | 7,020,363 | 6,613,341 |
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 were approved by the members of the LLP and authorised for issue on |
TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092) |
Notes to the Financial Statements |
For The Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Twinplane (UK) LLP is registered in England and Wales. The LLP's registered number and registered office address are as below: |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents represents amounts receivable for rent of the properties held less refunds repayable. |
Tangible fixed assets |
Land and buildings | - |
Plant and machinery etc | - |
In accordance with FRSSE, no depreciation is provided in respect of investment properties. This represents a departure from the Companies Act 1985 requirement to provide for the systematic annual depreciation of fixed assets. However these properties are held for investment, rather than consumption, and the partners consider that the adoption of the above policy is necessary to give a true and fair view. |
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. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was NIL (2023 - NIL). |
TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Motor |
property | vehicles | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Disposals | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Additions |
Revaluations | 490,662 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
TWINPLANE (UK) LLP (REGISTERED NUMBER: OC330092) |
Notes to the Financial Statements - continued |
For The Year Ended 31 March 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2014 | 1,763,502 |
Valuation in 2015 | 1,300,000 |
Valuation in 2016 | 1,100,000 |
Valuation in 2017 | 700,000 |
Valuation in 2018 | 1,513,363 |
Valuation in 2020 | (950,000 | ) |
Valuation in 2021 | (3,175,000 | ) |
Valuation in 2022 | 2,125,000 |
Valuation in 2023 | 295,702 |
Valuation in 2024 | 490,662 |
Cost | 6,136,771 |
11,300,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31/3/24 | 31/3/23 |
£ | £ |
Cost | 6,136,771 | 6,127,433 |
Investment properties were valued on an open market basis on 31 March 2024 by designated partners . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |