Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-04-01investment holding entity.00truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC438665 2023-04-01 2024-03-31 OC438665 2022-04-01 2023-03-31 OC438665 2024-03-31 OC438665 2023-03-31 OC438665 c:CurrentFinancialInstruments 2024-03-31 OC438665 c:CurrentFinancialInstruments 2023-03-31 OC438665 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC438665 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC438665 d:FRS102 2023-04-01 2024-03-31 OC438665 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC438665 d:FullAccounts 2023-04-01 2024-03-31 OC438665 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC438665 c:Subsidiary1 2023-04-01 2024-03-31 OC438665 c:Subsidiary1 1 2023-04-01 2024-03-31 OC438665 c:Subsidiary2 2023-04-01 2024-03-31 OC438665 c:Subsidiary2 1 2023-04-01 2024-03-31 OC438665 2 2023-04-01 2024-03-31 OC438665 6 2023-04-01 2024-03-31 OC438665 d:PartnerLLP4 2023-04-01 2024-03-31 OC438665 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC438665 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC438665 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC438665 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC438665 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC438665 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC438665 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC438665










ABERDEEN ONE PROPERTY LLP








Unaudited

Financial statements

For the Year Ended 31 March 2024

 
ABERDEEN ONE PROPERTY LLP
 

Contents



Page
Members' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3 - 4
Reconciliation of Members' Interests
5
Notes to the Financial Statements
6 - 9


 
ABERDEEN ONE PROPERTY LLP
 
  
Members' Report
For the Year Ended 31 March 2024

The members present their annual report together with the unaudited financial statements of Aberdeen One Property LLP (the "LLP") for the year ended 31 March 2024
The LLP was formed on 9 August 2021 under Limited Liability Partnership Act 2000. 
 

Principal activities
 
 
The principal activity of the LLP during the year was that of an investment holding entity.
 
 
Designated members
 
 
The designated members who served the LLP during the year and up to date of this report were as follows:
 
Suraj Rashmikant Shah
 
Manish Gudka 
 
 

 
Policy regarding members' drawings and the subscription and repayment of amounts subscribed or otherwise contributed by members
 
 
Members are permitted to make drawings in anticipation of profits which will be allocated to them. The amount of such drawings is set at the beginning of each financial year, taking into account the anticipated cash needs of the LLP.
New members are required to subscribe a minimum level of capital and in subsequent years members are invited to subscribe for further capital, the amounts of which is determined by the performance and seniority of those members. On retirement, capital is repaid to members.
 
 
Results for the year
 
 
The loss for this reporting year amounted to £500 (2023: £665).
 
 
This report was approved by the members and signed on their behalf by: 




Manish Gudka
Designated Member
 
Registered office:
1st Floor
88 Baker Street
London
England
W1U 6TQ


Date: 4 November 2024
Page 1

 
ABERDEEN ONE PROPERTY LLP
 
 
Statement of Comprehensive Income
For the Year Ended 31 March 2024

2024
2023
 
£
£

  

Administrative expenses
  
(500)
(718)

Operating loss
  
 
(500)
 
(718)

Interest receivable and similar income
  
-
53

Loss before tax
  
 
(500)
 
(665)

Loss for the year before members' remuneration and profit shares available for discretionary division among members
  
 
(500)
 
(665)

  

Total comprehensive loss for the year
  
(500)
(665)

All the activities of the LP are from continuing operations.
The notes on pages 6 to 9 form part of these financial statements.

Page 2

 
ABERDEEN ONE PROPERTY LLP
Registered number: OC438665

Statement of Financial Position
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
2
2

  
2
2

Current assets
  

Debtors: amounts falling due within one year
 5 
6,898,674
6,899,074

Cash at bank and in hand
  
35
135

  
6,898,709
6,899,209

Creditors: amounts falling due within one year
 6 
(1)
(1)

Net current assets
  
6,898,708
6,899,208

Total assets less current liabilities
  
6,898,710
6,899,210

  

Net assets
  
6,898,710
6,899,210


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
6,899,900
6,899,900

  
6,899,900
6,899,900

Members' other interests
  

Members' capital classified as equity
  
100
100

Other reserves classified as equity
  
(1,290)
(790)

  
(1,190)
(690)

  
6,898,710
6,899,210


Total members' interests
  

Loans and other debts due to members
 7 
6,899,900
6,899,900

Members' other interests
  
(1,190)
(690)

  
6,898,710
6,899,210


Page 3

 
ABERDEEN ONE PROPERTY LLP
Registered number: OC438665
    
Statement of Financial Position (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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

The LLP was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by  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 were approved and authorised for issue by the members and were signed on their behalf by:  




Manish Gudka
Designated member
Date: 4 November 2024

The notes on pages 6 to 9 form part of these financial statements.

Page 4

 
ABERDEEN ONE PROPERTY 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)
Other reserves
Total
Other
amounts
Total
Total

£
£
£
£
£
£

Amounts due to members 

7,199,900
7,199,900


Balance at 1 April 2022 
100
(125)
(25)
7,199,900
7,199,900
7,199,875

Loss for the year available for discretionary division among members
-
(665)
(665)
-
-
(665)

Repayment of capital
-
-
-
(300,000)
(300,000)
(300,000)

Amounts due to members
 



6,899,900
6,899,900


Balance at 31 March 2023
100
(790)
(690)
6,899,900
6,899,900
6,899,210

Loss for the year available for discretionary division among members
-
(500)
(500)
-
-
(500)

Amounts due to members
 



6,899,900
6,899,900


Balance at 31 March 2024 
100
(1,290)
(1,190)
6,899,900
6,899,900
6,898,710



Page 5

 
ABERDEEN ONE PROPERTY LLP
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

1.


General information

The LLP is registered in England and Wales. The address of the registered office is 1st Floor, 88 Baker Street, London, W1U 6TQ, England.

2.Accounting policies

 
2.1

Basis of preparation

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".

These financial statements are presented in Sterling (£), which is the functional currency of the entity. All amounts are rounded to the nearest Pound (£), except when otherwise indicated.

The following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on the going concern basis. The basis assumes that the LLP will be able to meet its obligations as they arise for the foreseeable future.

 
2.3

Interest receivable and similar income

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

 
2.4

Taxation

Taxation on LLP profits is the personal liability of the members and consequently neither taxation nor deferred taxation is accounted for in these financial statements.

 
2.5

Members' participation rights

Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of Comprehensive Income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Statement of Financial Position.
Page 6

 
ABERDEEN ONE PROPERTY LLP
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)


2.5
Members' participation rights (continued)

Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of Comprehensive Income and are equity appropriations in the Statement of Financial Position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the Statement of Financial Position within 'Loans and other debts due to members' and are charged to the Statement of Comprehensive Income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Statement of Financial Position within 'Members' other interests'.

 
2.6

Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.


Employees

The LLP has no employees other than the members, who did not receive any remuneration during the year (2023: £Nil).

Page 7

 
ABERDEEN ONE PROPERTY LLP
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

4.


Fixed asset investments





Shares in
group
undertakings

£



Cost 


At 1 April 2023
2



At 31 March 2024
2






Net book value



At 31 March 2024
2



At 31 March 2023
2


Subsidiary undertakings


The following were subsidiary undertakings of the LLP:

Name

Class of shares

Holding

Aberdeen One Group Finco Limited
Ordinary
100%
Aberdeen One Property Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Aberdeen One Group Finco Limited
1,600,419
684,161

Aberdeen One Property Limited

(5,633,564)
(3,762,318)

Page 8

 
ABERDEEN ONE PROPERTY LLP
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

5.


Debtors: amounts falling due within one year

2024
2023
£
£


Amounts owed by group undertakings
6,898,674
6,899,074


Amounts owed by group undertakings relate to amounts due from Aberdeen One Group Finco Limited, which are unsecured, interest free and repayable upon demand.


6.


Creditors: amounts falling due within one year

2024
2023
£
£

Other creditors
1
1



7.


Loans and other debts due to members


2024
2023
£
£



Loans from members
6,899,900
6,899,900

Loans from members are unsecured, interest free and repayable on demand. 

Page 9