Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalsetrue2023-04-01Property Development00The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC437924 2023-04-01 2024-03-31 OC437924 2022-04-01 2023-03-31 OC437924 2024-03-31 OC437924 2023-03-31 OC437924 c:CurrentFinancialInstruments 2024-03-31 OC437924 c:CurrentFinancialInstruments 2023-03-31 OC437924 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC437924 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC437924 d:FRS102 2023-04-01 2024-03-31 OC437924 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC437924 d:FullAccounts 2023-04-01 2024-03-31 OC437924 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC437924 2 2023-04-01 2024-03-31 OC437924 d:PartnerLLP1 2023-04-01 2024-03-31 OC437924 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC437924 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC437924 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC437924 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC437924 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC437924 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC437924 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC437924 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC437924 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC437924










DANESCROFT (FREOF V VIRGINIA WATER PM) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
 

CONTENTS



Page
Balance Sheet
1 - 2
Reconciliation of Members' Interests
4
Notes to the Financial Statements
5 - 8


 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
REGISTERED NUMBER: OC437924

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
10,901
367,481

  
10,901
367,481

Current assets
  

Debtors: amounts falling due within one year
 5 
810
21,727

Cash at bank and in hand
 6 
26,100
13,612

  
26,910
35,339

Creditors: Amounts Falling Due Within One Year
 7 
(2,204)
(23,204)

Net current assets
  
 
 
24,706
 
 
12,135

Total assets less current liabilities
  
35,607
379,616

  

Net assets
  
35,607
379,616


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
35,507
(5,949)

  
35,507
(5,949)

Members' other interests
  

Members' capital classified as equity
  
100
100

Members contribution classified as equity
  
-
330,039

Other reserves classified as equity
  
-
55,426

  
 
100
 
385,565

  
35,607
379,616


Total members' interests
  

Loans and other debts due to members
 9 
35,507
(5,949)

Members' other interests
  
100
385,565

  
35,607
379,616


Page 1

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
REGISTERED NUMBER: OC437924
    
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 11 November 2024.




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

The notes on pages 5 to 8 form part of these financial statements.

Page 2

 
DANESCROFT (FREOF V VIRGINIA WATER PM) 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)
Members' contributions
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£
£

Amounts due to members 
(30,959)
(30,959)


Balance at 1 April 2022 
100
316,502
-
316,602
(30,959)
(30,959)
285,643

Members' remuneration charged as an expense
-
-
-
-
80,436
80,436
80,436

Members' interests after profit for the year
100
316,502
-
316,602
49,477
49,477
366,079

Transfer between accounts
-
-
55,426
55,426
(55,426)
(55,426)
-

Members' contributions
-
13,537
-
13,537
-
-
13,537

Amounts due from members
 




(5,949)
(5,949)


Balance at 31 March 2023
 
100
330,039
55,426
385,565
(5,949)
(5,949)
379,616

Profit distributions to members
 
-
-
-
-
(629,142)
(629,142)
(629,142)

Members' interests after profit for the year
100
330,039
55,426
385,565
(635,091)
(635,091)
(249,526)

Transfer between accounts
-
-
(55,426)
(55,426)
55,426
55,426
-

Members' contributions repaid
 
-
(330,039)
-
(330,039)
-
-
(330,039)

Members remuneration charged as an expense
-
-
-
-
615,172
615,172
615,172

Transfer to other reserve
 
-
-
-
-
-
-
-

Amounts due to members
 




35,507
35,507

Page 3

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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


Balance at 31 March 2024 
100
-
-
100
35,507
35,507
35,607

The notes on pages 5 to 8 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 4

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Danescroft (FREOF V Virginia PM) LLP is a Limited Liability Partnership, registered in England and Wales, registration number OC437924. The address of the registered office is Third Floor Queensbury 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 LLP is currently reliant on members for financial support. The members are commited to the sustainment of the LLP and its activities, and are confident that the LLP has the resources to continue operating for at least 12 months from the date the financial statements are authorised. The members have concluded that it is appropriate that the financial statements be prepared on a going concern basis. 

 
2.3

Turnover

Turnover represents fees receivable net of VAT and share of partnership result.
Income is recognised as follows:
(i) Fees receivable- turnover represents the value of services provided under contracts to the extent
that there is a right to consideration and is recorded at the value of the the consideration due.
Where a contract has only been partially completed as at the balance sheet date turnover represernts
the value of the services provided based on a proporation of the total expected consideration at
completion.
(ii) Share of partnership result- upon realisation of the profit or loss in the partnership.

  
2.4

Valuation of investments

The valuation of the investment in the SPV is based on the entity's entitlement to the proportion of the net assets of the SPV after adjusting for the fair value of the stock held. 

 
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.

Page 5

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 with 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 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.

Page 6

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.


3.


Members

The average number of members during the year was 5 (2023 - 5).


4.


Fixed asset investments





Investments
Loans to investments
Fair value
Current account
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
4
312,653
55,426
(602)
367,481


Additions
-
4,621
-
974,863
979,484


Disposals
-
(317,274)
-
(963,364)
(1,280,638)


Revaluations
-
-
(55,426)
-
(55,426)



At 31 March 2024
4
-
-
10,897
10,901





5.


Debtors

2024
2023
£
£


Trade debtors
-
21,000

Other debtors
710
627

Called up share capital not paid
100
100

810
21,727


Page 7

 
DANESCROFT (FREOF V VIRGINIA WATER PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
26,100
13,612



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
21,000

Other creditors
4
4

Accruals and deferred income
2,200
2,200

2,204
23,204



8.


Other reserves

This represents the fair value adjustment of the investment. This reserve is undistributable.


9.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to/ (from) members
35,507
(5,949)




 
Page 8