IRIS Accounts Production v24.2.0.383 OC425847 designated member 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC4258472023-03-31OC4258472024-03-31OC4258472023-04-012024-03-31OC4258472022-03-31OC4258472022-04-012023-03-31OC4258472023-03-31OC425847ns15:EnglandWales2023-04-012024-03-31OC425847ns14:PoundSterling2023-04-012024-03-31OC425847ns10:PartnerLLP12023-04-012024-03-31OC425847ns10:LimitedLiabilityPartnershipLLP2023-04-012024-03-31OC425847ns10:SmallEntities2023-04-012024-03-31OC425847ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31OC425847ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31OC425847ns10:LimitedLiabilityPartnershipsSORP2023-04-012024-03-31OC425847ns10:FullAccounts2023-04-012024-03-31OC425847ns10:PartnerLLP22023-04-012024-03-31OC425847ns10:PartnerLLP32023-04-012024-03-31OC425847ns10:RegisteredOffice2023-04-012024-03-31OC425847ns5:CurrentFinancialInstruments2024-03-31OC425847ns5:CurrentFinancialInstruments2023-03-31OC425847ns5:PlantMachinery2023-03-31OC425847ns5:PlantMachinery2023-04-012024-03-31OC425847ns5:PlantMachinery2024-03-31OC425847ns5:PlantMachinery2023-03-31OC425847ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31OC425847ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: OC425847 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Cornhill Commercial LLP

Cornhill Commercial LLP (Registered number: OC425847)

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


Cornhill Commercial LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: Mrs J A Walker
Mrs A R Mason
R Mason





REGISTERED OFFICE: 83 Church Lane
Eaton
NR4 6NY





REGISTERED NUMBER: OC425847 (England and Wales)





ACCOUNTANTS: APT
44 The Pantiles
Tunbridge Wells
Kent
TN2 5TN

Cornhill Commercial LLP (Registered number: OC425847)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,820 2,515
Investment property 5 7,150,000 6,099,999
7,151,820 6,102,514

CURRENT ASSETS
Debtors 6 163,931 280,323
Cash at bank 161,139 1,048,200
325,070 1,328,523
CREDITORS
Amounts falling due within one year 7 52,995 98,641
NET CURRENT ASSETS 272,075 1,229,882
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

7,423,895

7,332,396

LOANS AND OTHER DEBTS DUE TO
MEMBERS

-

-

MEMBERS' OTHER INTERESTS
Capital accounts 7,423,895 7,332,396
7,423,895 7,332,396

TOTAL MEMBERS' INTERESTS
Members' other interests 7,423,895 7,332,396

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.

Cornhill Commercial LLP (Registered number: OC425847)

Balance Sheet - continued
31 March 2024


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 25 October 2024 and were signed by:





Mrs A R Mason - Designated member

Cornhill Commercial LLP (Registered number: OC425847)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Cornhill Commercial LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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.

The functional and presentational currency of the LLP is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates to write off each asset over its estimated useful life.

Computer equipment - over 3 years, straight line basis.

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).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 4,047
DEPRECIATION
At 1 April 2023 1,532
Charge for year 695
At 31 March 2024 2,227
NET BOOK VALUE
At 31 March 2024 1,820
At 31 March 2023 2,515

Cornhill Commercial LLP (Registered number: OC425847)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 6,099,999
Additions 967,951
Revaluations 82,050
At 31 March 2024 7,150,000
NET BOOK VALUE
At 31 March 2024 7,150,000
At 31 March 2023 6,099,999

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 1,083,328
Valuation in 2022 (911,678 )
Valuation in 2023 1,271,949
Valuation in 2024 82,050
Cost 5,624,351
7,150,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 5,624,351 4,656,400

Investment property was valued on an open market basis on 31 March 2024 by the designated members .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 146,350 108,396
Other debtors 17,581 171,927
163,931 280,323

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 17,180 943
Other creditors 35,815 97,698
52,995 98,641