Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseProperty development00falsetrue OC430262 2023-04-01 2024-03-31 OC430262 2022-04-01 2023-03-31 OC430262 2024-03-31 OC430262 2023-03-31 OC430262 c:CurrentFinancialInstruments 2024-03-31 OC430262 c:CurrentFinancialInstruments 2023-03-31 OC430262 c:Non-currentFinancialInstruments 2024-03-31 OC430262 c:Non-currentFinancialInstruments 2023-03-31 OC430262 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC430262 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC430262 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC430262 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC430262 d:FRS102 2023-04-01 2024-03-31 OC430262 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC430262 d:FullAccounts 2023-04-01 2024-03-31 OC430262 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC430262 d:PartnerLLP1 2023-04-01 2024-03-31 OC430262 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC430262 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC430262 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC430262 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 iso4217:GBP xbrli:pure

Registered number: OC430262










ANGLE PROPERTY (OLNEY PARK) LLP








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
ANGLE PROPERTY (OLNEY PARK) LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 8

 
ANGLE PROPERTY (OLNEY PARK) LLP
REGISTERED NUMBER: OC430262

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
1,250,440
1,656,495

Debtors: amounts falling due after more than one year
 5 
210,000
-

Debtors: amounts falling due within one year
 5 
91,004
276,152

Cash at bank and in hand
 6 
181,261
526,770

  
1,732,705
2,459,417

Creditors: Amounts Falling Due Within One Year
 7 
(73,390)
(322,766)

Net current assets
  
 
 
1,659,315
 
 
2,136,651

Total assets less current liabilities
  
1,659,315
2,136,651

Creditors: amounts falling due after more than one year
  
(210,000)
-

  
1,449,315
2,136,651

  

Net assets
  
1,449,315
2,136,651


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
1,449,215
2,136,551

  
1,449,215
2,136,551

Members' other interests
  

Members' capital classified as equity
  
100
100

  
 
100
 
100

  
1,449,315
2,136,651


Total members' interests
  

Loans and other debts due to members
  
1,449,215
2,136,551

Members' other interests
  
100
100

  
1,449,315
2,136,651

Page 1

 
ANGLE PROPERTY (OLNEY PARK) LLP
REGISTERED NUMBER: OC430262
    
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 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 29 October 2024.




................................................
C A Allen
On behalf of Fiera Real Estate UK Limited
Designated member

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

Page 2

 
ANGLE PROPERTY (OLNEY PARK) LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2024







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

£
£
£
£
£
£

Amounts due to members 

1,122,120
1,221,515
2,343,635


Balance at 1 April 2022 
100
100
1,120,120
1,221,515
2,341,635
2,341,735

Members' remuneration charged as an expense
 
-
-
-
915,036
915,036
915,036

Members' interests after profit for the year
100
100
1,120,120
2,136,551
3,256,671
3,256,771

Repayment of capital
 
-
-
(1,120,120)
-
(1,120,120)
(1,120,120)

Amounts due to members
2,136,551
2,136,551

Balance at 31 March 2023
100
100
-
2,136,551
2,136,551
2,136,651

Members' remuneration charged as an expense
-
-
-
2,021,664
2,021,664
2,021,664

Members' interests after profit for the year
100
100
-
4,158,215
4,158,215
4,158,315

Drawings on account and distribution of profit
 
-
-
-
(2,709,000)
(2,709,000)
(2,709,000)

Amounts due to members
1,449,215
1,449,215

Balance at 31 March 2024 
100
100
-
1,449,215
1,449,215
1,449,315

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

 
ANGLE PROPERTY (OLNEY PARK) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Angle Property (Olney Park) LLP is a limited liability partnership, incorporated in England and Wales, registration number OC430262. The address of the registered office is Third Floor Queensberry House, 3 Old Burlington Street, London, W1S 3AE.

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 Section 1A of 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as the members believe that the LLP has adequate resources to meet its liabilities as they fall due for payments for at least 12 months from the date of approval of these financial statements. 

  
2.3

Turnover

Turnover represents amounts receivable in respect of sale of property stock net of VAT, and property development fees.
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.

  
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress stock includes property under development including labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
ANGLE PROPERTY (OLNEY PARK) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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.

 
2.9

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. 
Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.
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 within the operating cycle fall into this category of financial instruments.

Page 5

 
ANGLE PROPERTY (OLNEY PARK) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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 measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Members

The average number of members during the year was 4 (2023: 4).

There were no employees employed by the LLP in the current and the previous year.


4.


Stocks

2024
2023
£
£

Property stock under development
1,250,440
1,656,495



5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
210,000
-

210,000
-


2024
2023
£
£
Page 6

 
ANGLE PROPERTY (OLNEY PARK) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.Debtors (continued)


Due within one year

Other debtors
90,450
275,598

Called up members capital not paid
100
100

Prepayments and accrued income
454
454

91,004
276,152



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
181,261
526,770



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
7,950
6,792

Other creditors
13,366
311,081

Accruals and deferred income
52,074
4,893

73,390
322,766



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
210,000
-

210,000
-


Page 7

 
ANGLE PROPERTY (OLNEY PARK) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans and other debts due to members


2024
2023
£
£



Amounts owed to members in respect of profit/(loss)
1,449,215
2,136,551

1,449,215
2,136,551


Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


10.


Related party transactions

During the year, fees of £150,000 (2023: £Nil) were charged by Angle Property Limited, a designated member of LLP. 

 
Page 8