Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01Property Investment00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC352273 2023-04-01 2024-03-31 OC352273 2022-04-01 2023-03-31 OC352273 2024-03-31 OC352273 2023-03-31 OC352273 c:FreeholdInvestmentProperty 2023-04-01 2024-03-31 OC352273 c:FreeholdInvestmentProperty 2024-03-31 OC352273 c:FreeholdInvestmentProperty 2023-03-31 OC352273 c:CurrentFinancialInstruments 2024-03-31 OC352273 c:CurrentFinancialInstruments 2023-03-31 OC352273 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC352273 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC352273 d:FRS102 2023-04-01 2024-03-31 OC352273 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC352273 d:FullAccounts 2023-04-01 2024-03-31 OC352273 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC352273 d:PartnerLLP2 2023-04-01 2024-03-31 OC352273 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC352273 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC352273 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC352273 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC352273 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC352273 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC352273 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC352273










CHERTSEY PARKLANDS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CHERTSEY PARKLANDS LLP
 

CONTENTS



Page
Balance sheet
 
1 - 2
Reconciliation of members' interests
 
3
Notes to the financial statements
 
4 - 7


 
CHERTSEY PARKLANDS LLP
REGISTERED NUMBER: OC352273

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
1,439,815
1,234,942

  
1,439,815
1,234,942

Current assets
  

Debtors: amounts falling due within one year
 6 
2,632
20,230

Cash at bank and in hand
  
150
1,843

  
2,782
22,073

Creditors: Amounts Falling Due Within One Year
 7 
(1,236,897)
(1,037,894)

Net current liabilities
  
 
 
(1,234,115)
 
 
(1,015,821)

Total assets less current liabilities
  
205,700
219,121

  

Net assets
  
205,700
219,121


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
2,000
2,000

Revaluation reserve classified as equity
  
283,108
283,108

Other reserves classified as equity

  

(79,408)
(65,987)

  
 
205,700
 
219,121

  
205,700
219,121


Total members' interests
  

Members' other interests
  
205,700
219,121

  
205,700
219,121


Page 1

 
CHERTSEY PARKLANDS LLP
REGISTERED NUMBER: OC352273
    
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 6 November 2024.




................................................
A J Crowther
Designated member

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
CHERTSEY PARKLANDS LLP
 

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






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

£
£
£
£

Balance at 1 April 2022 
2,000
283,108
(56,861)
228,247

Loss for the year available for discretionary division among members
 
-
-
(9,126)
(9,126)

Members' interests after profit for the year
 
2,000
283,108
(65,987)
219,121

Balance at 31 March 2023
2,000
283,108
(65,987)
219,121

Loss for the year available for discretionary division among members
 
-
-
(13,421)
(13,421)

Members' interests after profit for the year
 
2,000
283,108
(79,408)
205,700

Balance at 31 March 2024 
2,000
283,108
(79,408)
205,700

The notes on pages 4 to 7 form part of these financial statements.

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

 
CHERTSEY PARKLANDS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Partnership is a limited liability partnership incorporated in the United Kingdom and registered in England and Wales. The address of the registered office is 25 Oldbury Place, London, W1U 5PN.

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 members have prepared the financial statements on a going concern basis taking into account the current market position and prospects of the company and also the continued working capital support provided by the company's members and principal creditor.

 
2.3

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

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.

 
2.4

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.

 
2.5

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.

Page 4

 
CHERTSEY PARKLANDS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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.
 
Page 5

 
CHERTSEY PARKLANDS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Derecognition of financial instruments
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 entity has no employees.


4.


Information in relation to members

The average number of members during the year was 2 (2023: 2)


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,234,942


Additions at cost
204,873



At 31 March 2024
1,439,815

The 2024 valuations were made by the designated members on 31 March 2024, on an open market value for existing use basis.






Page 6

 
CHERTSEY PARKLANDS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Other debtors
1,629
20,230

Prepayments and accrued income
1,003
-

2,632
20,230



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,003
-

Other creditors
1,232,750
1,034,750

Accruals and deferred income
3,144
3,144

1,236,897
1,037,894



8.


Related party transactions

At the year end, a balance of £1,232,750 (2022: £1,034,750) was due to a company under common control.
No interest is charged on this balance.

 
Page 7