Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-05No description of principal activityfalse2023-04-0600truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC356492 2023-04-06 2024-04-05 OC356492 2022-04-06 2023-04-05 OC356492 2024-04-05 OC356492 2023-04-05 OC356492 c:FurnitureFittings 2023-04-06 2024-04-05 OC356492 c:FurnitureFittings 2024-04-05 OC356492 c:FurnitureFittings 2023-04-05 OC356492 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 OC356492 c:LeaseholdInvestmentProperty 2024-04-05 OC356492 c:LeaseholdInvestmentProperty 2023-04-05 OC356492 c:CurrentFinancialInstruments 2024-04-05 OC356492 c:CurrentFinancialInstruments 2023-04-05 OC356492 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-05 OC356492 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-05 OC356492 d:FRS102 2023-04-06 2024-04-05 OC356492 d:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 OC356492 d:FullAccounts 2023-04-06 2024-04-05 OC356492 d:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC356492 d:PartnerLLP1 2023-04-06 2024-04-05 OC356492 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: OC356492










COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
REGISTERED NUMBER: OC356492

BALANCE SHEET
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
19,887
11,358

Investment property
 6 
543,693
543,693

  
563,580
555,051

Current assets
  

Debtors: amounts falling due within one year
 7 
5,358
3,231

Cash at bank and in hand
 8 
2,690
18,167

  
8,048
21,398

Creditors: Amounts Falling Due Within One Year
 9 
(316,953)
(322,612)

Net current liabilities
  
 
 
(308,905)
 
 
(301,214)

Total assets less current liabilities
  
254,675
253,837

  

Net assets
  
254,675
253,837

Page 1

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
REGISTERED NUMBER: OC356492
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2024

2024
2023
£
£

Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
647,391
647,391

Other amounts
 10 
(392,716)
(393,554)

  
254,675
253,837


Total members' interests
  

Loans and other debts due to members
 10 
254,675
253,837

  
254,675
253,837


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 on 24 October 2024.




................................................
J Holland
Designated member

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

Commercial & Temperance Developments 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

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 5 APRIL 2024






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

£
£
£
£
£

Amounts due to members 
647,391
(429,929)
217,462


Balance at 1 April 2022 
-
647,391
(429,929)
217,462
217,462

Profit for the year available for discretionary division among members
 
36,375
-
-
-
36,375

Members' interests after profit for the year
36,375
647,391
(429,929)
217,462
253,837

Other division of profits
-
-
36,375
36,375
36,375

Movement in reserves
(36,375)
-
-
-
(36,375)

Amounts due to members
647,391
(393,554)
253,837

Balance at 5 April 2023
-
647,391
(393,554)
253,837
253,837

Profit for the year available for discretionary division among members
 
838
-
-
-
838

Members' interests after profit for the year
838
647,391
(393,554)
253,837
254,675

Other division of profits
-
-
838
838
838

Movement in reserves
(838)
-
-
-
(838)

Amounts due to members
647,391
(392,716)
254,675

Balance at 5 April 2024 
-
647,391
(392,716)
254,675
254,675

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

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Commercial & Temperance Developments LLP is a Limited Liability Partnership registered in England and Wales (no. OC356492). The registered office is 79-84 North East Wholesale Market, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0QY. 

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 financial statements are prepared in sterling, which is the functional currency of the LLP. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The members have considered the LLP's current and future prospects and the availability of financing, and are satisfied that the LLP can continue to pay its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. For this reason the members continue to adopt the going concern basis of preparation for these financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover represents the value of rents and service charges receivable. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment property whose fair value can be measured reliably is measured at fair value. The surplus or deficit on revaluation is recognised in the Statement of Comprehensive Income and accumulated in the profit and loss reserve.
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The members consider that, because these properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt FRS 102 in order to give a true and fair view.
If this departure from the Act had not been made, the profit for the financial period would have been reduced by depreciation, However, the amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

 
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.


Judgements in applying accounting policies and key sources of estimation uncertainty

Tangible fixed assets are depreciated over their useful economic lives taking into account residual values where appropriate. The actual lives of assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.
Investment properties are carried at fair value determined annually 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. Valuations are undertaken by the members on an annual basis to ensure the carrying amount does not differ materially from fair value at the balance sheet date.

Page 5

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

4.


Employees

The entity has no employees.


5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 6 April 2023
434,464


Additions
13,462



At 5 April 2024

447,926



Depreciation


At 6 April 2023
423,106


Charge for the year on owned assets
4,933



At 5 April 2024

428,039



Net book value



At 5 April 2024
19,887



At 5 April 2023
11,358


6.


Investment property


Long term leasehold investment property

£



Valuation


At 6 April 2023
543,693



At 5 April 2024
543,693

The 2024 valuations were made by the members, on an open market value for existing use basis.




Page 6

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

7.


Debtors

2024
2023
£
£


Other debtors
5,358
3,231

5,358
3,231



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,690
18,167

2,690
18,167



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,350
6,000

Other creditors
289,000
300,000

Accruals and deferred income
10,603
16,612

316,953
322,612


Page 7

 
COMMERCIAL & TEMPERANCE DEVELOPMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

10.


Loans and other debts due to members


2024
2023
£
£



Members' capital treated as debt
647,391
647,391

Other amounts due to members
(392,716)
(393,554)

254,675
253,837

All amounts fall due within one year.

The profits are divided and allocated retrospectively by agreement amongst the members. Accordingly, there is no automatic allocation of profits amongst designated members at the balance sheet date. As a result, profits available for allocation amongst the designated members at the balance sheet date is included in members' other interests. Allocated profits in excess of members' drawings are classified as amounts due to members.
Members' other interests rank after unsecured creditors, and loans and other debtors due to members rank pari passu with the unsecured creditors in the event of a winding up. The amount of capital each member is required to subscribe is determined by the membership agreement. A member may only withdraw capital when they cease to be a member.


11.


Related party transactions

Included within other creditors is £289,000 (2023 - £300,000) due to an LLP in which a member is also a member. The loan is interest free and repayable on demand.


12.


Controlling party

In the opinion of the members, no individual member has outright control of the LLP.

 
Page 8