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REGISTERED NUMBER: OC330092 (England and Wales)















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 4 150,483 161,076
Investment property 5 11,300,000 10,800,000
11,450,483 10,961,076

CURRENT ASSETS
Debtors 6 2,622 4,339
Cash at bank and in hand 611,664 344,070
614,286 348,409
CREDITORS
Amounts falling due within one year 7 653,962 656,144
NET CURRENT LIABILITIES (39,676 ) (307,735 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,410,807

10,653,341

CREDITORS
Amounts falling due after more than one year 8 4,390,444 4,040,000
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 LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

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 have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 11 October 2024 and were signed by:





Mr Sewnarine Sadoo - Designated member

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: OC330092

Registered office: 5 Bedford Road
Clapham North
London
SW4 7SH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents represents amounts receivable for rent of the properties held less refunds repayable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% Straight Line
Plant and machinery etc - 25% on reducing balance

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 195,000 94,999 289,999
Disposals - (36,074 ) (36,074 )
At 31 March 2024 195,000 58,925 253,925
DEPRECIATION
At 1 April 2023 54,600 74,323 128,923
Charge for year 3,900 4,662 8,562
Eliminated on disposal - (34,043 ) (34,043 )
At 31 March 2024 58,500 44,942 103,442
NET BOOK VALUE
At 31 March 2024 136,500 13,983 150,483
At 31 March 2023 140,400 20,676 161,076

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 10,800,000
Additions 9,338
Revaluations 490,662
At 31 March 2024 11,300,000
NET BOOK VALUE
At 31 March 2024 11,300,000
At 31 March 2023 10,800,000

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 2,622 4,339

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other creditors 653,962 656,144

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 4,390,444 4,040,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,390,444 2,040,000