Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsetrue2023-04-01The principal activity of the LLP is that of asset management.44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC418674 2023-04-01 2024-03-31 OC418674 2022-04-01 2023-03-31 OC418674 2024-03-31 OC418674 2023-03-31 OC418674 c:CurrentFinancialInstruments 2024-03-31 OC418674 c:CurrentFinancialInstruments 2023-03-31 OC418674 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC418674 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC418674 d:FRS102 2023-04-01 2024-03-31 OC418674 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC418674 d:FullAccounts 2023-04-01 2024-03-31 OC418674 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC418674 6 2023-04-01 2024-03-31 OC418674 d:PartnerLLP1 2023-04-01 2024-03-31 OC418674 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC418674 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC418674 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC418674 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC418674 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC418674 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC418674 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC418674










ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
 

CONTENTS



Page
Balance sheet
1 - 2
Reconciliation of members' interests
3
Notes to the financial statements
4 - 8


 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
REGISTERED NUMBER: OC418674

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
148,417
164,043

  
148,417
164,043

Current assets
  

Debtors: amounts falling due within one year
 5 
15,710
16,254

Cash at bank and in hand
 6 
5,937
1,077

  
21,647
17,331

Creditors: Amounts Falling Due Within One Year
 7 
(18,550)
(17,200)

Net current assets
  
 
 
3,097
 
 
131

Total assets less current liabilities
  
151,514
164,174

  

Net assets
  
151,514
164,174


Represented by:
  

Loans and other debts due to members
  

Other amounts
 8 
(57,322)
(28,873)

  
(57,322)
(28,873)

Members' other interests
  

Members' capital classified as equity
  
100
100

Members' contributions classified as equity

  

208,736
192,947

  
 
208,836
 
193,047

  
151,514
164,174


Total members' interests
  

Loans and other debts due to members
 8 
(57,322)
(28,873)

Members' other interests
  
208,836
193,047

  
151,514
164,174


Page 1

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
REGISTERED NUMBER: OC418674
    
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 by: 




................................................
C A Allen
On behalf of Palmer Capital Partners Limited
Designated member

Date: 11 November 2024

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

Page 2

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) 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)
Capital contributions
Total
Other amounts
Total
Total

£
£
£
£
£
£

Amounts due to members 

(21,236)
(21,236)


Balance at 1 April 2022 
100
184,460
184,560
(21,236)
(21,236)
163,324

Members' remuneration charged as an expense
-
-
-
(7,637)
(7,637)
(7,637)

Members' interests after profit for the year
 
100
184,460
184,560
(28,873)
(28,873)
155,687

Amounts introduced by members
-
8,487
8,487
-
-
8,487

Amounts due to members
 



(28,873)
(28,873)


Balance at 31 March 2023
100
192,947
193,047
(28,873)
(28,873)
164,174

Members' remuneration charged as an expense
-
-
-
(28,449)
(28,449)
(28,449)

Members' interests after profit for the year
 
100
192,947
193,047
(57,322)
(57,322)
135,725

Amounts introduced by members
-
15,789
15,789
-
-
15,789

Amounts due to members
 



(57,322)
(57,322)


Balance at 31 March 2024 
100
208,736
208,836
(57,322)
(57,322)
151,514

The notes on pages 4 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 3

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Angle Property (Shepperton Asset Management) LLP is a limited liability partnership, incorporated in England and Wales, registration number OC418674. 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

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 consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided based on a proportion of the total expected consideration at completion.
(ii) Share of partnership result - upon realisation of the profit or loss in the partnership.

  
2.3

Going concern

The LLP is currently reliant on its members for financial support. The members are committed 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.

 
2.4

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

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 4

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 5

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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.
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.


Members

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

Page 6

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Fixed asset investments





Investments
Share of results
Loans to investments
Total

£
£
£
£



Cost or valuation


At 1 April 2023
3
(11,248)
175,288
164,043


Additions
-
-
7,970
7,970


Share of results
-
(23,596)
-
(23,596)



At 31 March 2024
3
(34,844)
183,258
148,417





5.


Debtors

2024
2023
£
£


Trade debtors
15,000
15,000

Other debtors
710
1,254

15,710
16,254



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,937
1,077



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
15,000
15,000

Accruals and deferred income
3,550
2,200

18,550
17,200


Page 7

 
ANGLE PROPERTY (SHEPPERTON ASSET MANAGEMENT) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans and other debts due to members


2024
2023
£
£



Amounts owed (to)/by members in respect of (profit)/loss
57,322
28,873





 
Page 8