REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CSquared Real Estate LLP |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CSquared Real Estate LLP |
CSquared Real Estate LLP (Registered number: OC361785) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
General Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CSquared Real Estate LLP |
General Information |
for the Year Ended 31 March 2024 |
DESIGNATED MEMBERS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Suite 5 Corum 2 |
Corum Office Park |
Crown Way |
Warmley |
Bristol |
BS30 8FJ |
CSquared Real Estate LLP (Registered number: OC361785) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS ATTRIBUTABLE TO MEMBERS | 559,217 | 653,404 |
LOANS AND OTHER DEBTS DUE TO MEMBERS |
377,417 |
471,604 |
MEMBERS' OTHER INTERESTS |
Capital accounts | 181,800 | 181,800 |
559,217 | 653,404 |
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 377,417 | 471,604 |
Members' other interests | 181,800 | 181,800 |
559,217 | 653,404 |
CSquared Real Estate LLP (Registered number: OC361785) |
Balance Sheet - continued |
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. |
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 |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
CSquared Real Estate LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There have been no material departures from the Financial Reporting Standard 102 1A. |
Related party exemption |
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
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: |
Rendering of services |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- the amount of revenue can be measured reliably; |
- it is probable that the LLP will receive the consideration due under the contract; |
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- the costs incurred and the costs to complete the contract can be measured reliably. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Long leasehold | - 20% on cost and 10% on cost |
Plant and machinery | - 25% on cost |
Fixtures and fittings | - 25% on cost |
Computer equipment | - 25% on cost |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The LLP operates a defined contribution pension scheme. Contributions payable to the LLP's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEE INFORMATION |
The average number of employees during the year was |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
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 |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The bank loan is secured by way of fixed and floating charges over the assets of the company. |
11. | PENSION COMMITMENTS |
The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £7,914 (2023 - £3,734) were payable to the fund at the reporting date. |
12. | OFF BALANCE SHEET COMMITMENTS |
At the year end the LLP had future minimum lease payments due under non-cancellable operating leases totalling £377,515 (2023 - £472,570). |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
13. | RELATED PARTY DISCLOSURES |
Loans from related parties |
Other related parties |
Total |
2024 | £ | £ |
At start of period | 55,400 | 55,400 |
Advanced | - | - |
Repaid | (20,000 | ) | (20,000 | ) |
At end of period | 35,400 | 35,400 |
Other related parties |
Total |
2023 | £ | £ |
At start of period | 2,400 | 2,400 |
Advanced | 55,400 | 55,400 |
Repaid | (2,400 | ) | (2,400 | ) |
At end of period | 55,400 | 55,400 |
Loans from other related parties are interest free and repayable on demand. |
CSquared Real Estate LLP (Registered number: OC361785) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
13. | RELATED PARTY DISCLOSURES - continued |
Loans to related parties |
Other related parties |
Total |
2024 | £ | £ |
At start of period | 75 | 75 |
Advanced | - | - |
Repaid | (75 | ) | (75 | ) |
At end of period | - | - |
Other related parties |
Total |
2023 | £ | £ |
At start of period | 2,356 | 2,356 |
Advanced | - | - |
Repaid | (2,281 | ) | (2,281 | ) |
At end of period | 75 | 75 |
Loans to other related parties are interest free and repayable on demand. |