Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-314true4true2023-04-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC394565 2023-04-01 2024-03-31 OC394565 2022-04-01 2023-03-31 OC394565 2024-03-31 OC394565 2023-03-31 OC394565 c:CurrentFinancialInstruments 2024-03-31 OC394565 c:CurrentFinancialInstruments 2023-03-31 OC394565 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC394565 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC394565 d:FRS102 2023-04-01 2024-03-31 OC394565 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC394565 d:FullAccounts 2023-04-01 2024-03-31 OC394565 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC394565 2 2023-04-01 2024-03-31 OC394565 d:PartnerLLP1 2023-04-01 2024-03-31 OC394565 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC394565 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 iso4217:GBP xbrli:pure
Registered number: OC394565














CANNING TOWN PROPERTIES 2 LLP

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
CANNING TOWN PROPERTIES 2 LLP
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
CANNING TOWN PROPERTIES 2 LLP
REGISTERED NUMBER:OC394565

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
1,010,022
1,010,022

Debtors: amounts falling due within one year
 5 
1,066
763,207

Cash at bank and in hand
 6 
827,285
9,985

  
1,838,373
1,783,214

Creditors: Amounts Falling Due Within One Year
 7 
(1,145,390)
(1,148,420)

Net current assets
  
 
 
692,983
 
 
634,794

Total assets less current liabilities
  
692,983
634,794

  

Net assets
  
692,983
634,794


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
692,983
634,794

  
692,983
634,794

  

  
692,983
634,794


Total members' interests
  

Loans and other debts due to members
 8 
692,983
634,794

  
692,983
634,794


1

 
CANNING TOWN PROPERTIES 2 LLP
REGISTERED NUMBER:OC394565
    
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 30 October 2024.




A Zykov
For and on behalf of Trinique Worldwide Holding Limited
Designated member

The notes on pages 3 to 5 form part of these financial statements.

2

 
CANNING TOWN PROPERTIES 2 LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Canning Town Properties 2 LLP is a limited liability partnership, registered in England and Wales, registration number OC394565
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is First Floor, 17 Grosvenor Hill, Mayfair, London, W1K 3QB.
The principal activity of the LLP continued to be that of residential property trading.

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 LLP's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

Interest income receivable in connection with advance payments to developers is recognised in the profit and loss account using the effective interest method. 

3

 
CANNING TOWN PROPERTIES 2 LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense' where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.5

Stocks

Stock of property is valued at the lower of cost and net realisable value. Cost includes all direct costs incurred during the purchase of the stock.

 
2.6

Debtors

Short term debtors are measured at transaction price, 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.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. 

 
2.9

 Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and security instruments from related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


4.


Stocks

2024
2023
£
£

Stock of property
1,010,022
1,010,022


4

 
CANNING TOWN PROPERTIES 2 LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
500
763,087

Prepayments
566
120

1,066
763,207



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank
827,285
9,985



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
1,117,627
1,122,275

Accruals
27,763
26,145

1,145,390
1,148,420



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members within one year
692,983
634,794



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


9.


Related party transactions

As at 31 March 2024, other creditors included an amount owed to an entity under common control totalling £35,258 (2023 - £10,000). The loan was interest free and repayable on demand.
 
5