Caseware UK (AP4) 2023.0.135 2023.0.135 2No description of principal activity2false2023-04-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC436003 2023-04-01 2024-03-31 OC436003 2022-04-01 2023-03-31 OC436003 2024-03-31 OC436003 2023-03-31 OC436003 c:Buildings 2024-03-31 OC436003 c:Buildings 2023-03-31 OC436003 c:LandBuildings 2024-03-31 OC436003 c:LandBuildings 2023-03-31 OC436003 c:CurrentFinancialInstruments 2024-03-31 OC436003 c:CurrentFinancialInstruments 2023-03-31 OC436003 c:Non-currentFinancialInstruments 2024-03-31 OC436003 c:Non-currentFinancialInstruments 2023-03-31 OC436003 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC436003 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC436003 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC436003 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC436003 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 OC436003 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 OC436003 d:FRS102 2023-04-01 2024-03-31 OC436003 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC436003 d:FullAccounts 2023-04-01 2024-03-31 OC436003 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC436003 d:PartnerLLP1 2023-04-01 2024-03-31 OC436003 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC436003 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC436003 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC436003 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC436003 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC436003









NSA PROPERTY HOLDINGS LLP







Unaudited

Financial statements

Information for filing with the registrar

for the year ended 31 March 2024

 
NSA PROPERTY HOLDINGS LLP
Registered number: OC436003

Balance sheet
as at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
266,000
266,000

  
266,000
266,000

  

Creditors: Amounts Falling Due Within One Year
 5 
(1,545)
(1,459)

Net current liabilities
  
 
 
(1,545)
 
 
(1,459)

Total assets less current liabilities
  
264,455
264,541

Creditors: amounts falling due after more than one year
 6 
(89,969)
(89,969)

  
174,486
174,572

  

Net assets
  
174,486
174,572


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
176,031
176,031

Other reserves classified as equity
  
(1,545)
(1,459)

  
 
174,486
 
174,572

  
174,486
174,572


Total members' interests
  

Members' other interests
  
174,486
174,572

  
174,486
174,572

Page 1

 
NSA PROPERTY HOLDINGS LLP
Registered number: OC436003
    
Balance sheet (continued)
as at 31 March 2024

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 profit and loss account 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 29 October 2024.




Muhammad Sakib Amin
Designated member

The notes on pages 4 to 9 form part of these financial statements.

NSA Property Holdings 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

 
NSA PROPERTY HOLDINGS LLP
 

Reconciliation of members' interests
for the year ended 31 March 2024





EQUITY
Members' other interests
Members' capital (classified as equity)
Other reserves
Total

£
£
£

Profit for the year available for discretionary division among members
 
-
10,251
10,251

Members' interests after profit for the year
176,031
8,942
184,973

Other division of profits
-
(10,401)
(10,401)

Balance at 31 March 2023
176,031
(1,459)
174,572

Profit for the year available for discretionary division among members
 
-
8,939
8,939

Members' interests after profit for the year
176,031
7,480
183,511

Other division of profits
-
(9,025)
(9,025)

Balance at 31 March 2024 
176,031
(1,545)
174,486

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

 
NSA PROPERTY HOLDINGS LLP
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

1.


General information

NSA Property Holdings LLP (company number OC436003) is a limited liability partnership, registered in England and Wales. Its registered office is at 39 Ravenwood Drive, Hale Barns, Altrincham, Cheshire, WA15 0JA

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

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.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
NSA PROPERTY HOLDINGS LLP
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)

 
2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers 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. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

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.

 
2.8

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of
Page 5

 
NSA PROPERTY HOLDINGS LLP
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are
Page 6

 
NSA PROPERTY HOLDINGS LLP
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the LLP transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the LLP will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the LLP's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of persons (including members with contracts of employment) employed during the year was as follows:


        2024
        2023
            No.
            No.







Employees
2
2

Page 7

 
NSA PROPERTY HOLDINGS LLP
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

4.


Tangible fixed assets





Investment properties

£



Cost or valuation


At 1 April 2023
266,000



At 31 March 2024

266,000






Net book value



At 31 March 2024
266,000



At 31 March 2023
266,000




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Investment properties
266,000
266,000

266,000
266,000



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
447
409

Accruals and deferred income
1,098
1,050

1,545
1,459


Page 8

 
NSA PROPERTY HOLDINGS LLP
 
 
 
Notes to the financial statements
for the year ended 31 March 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
89,969
89,969

89,969
89,969


The following liabilities were secured:




Details of security provided:

The bank loan is secured by a first legal charge over one of the partnerships two investment properties.


7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
89,969
89,969

89,969
89,969

89,969
89,969


 
Page 9