Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseAsset Management02023-04-010falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC420279 2023-04-01 2024-03-31 OC420279 2022-04-01 2023-03-31 OC420279 2024-03-31 OC420279 2023-03-31 OC420279 c:CurrentFinancialInstruments 2024-03-31 OC420279 c:CurrentFinancialInstruments 2023-03-31 OC420279 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC420279 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC420279 d:FRS102 2023-04-01 2024-03-31 OC420279 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC420279 d:FullAccounts 2023-04-01 2024-03-31 OC420279 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC420279 2 2023-04-01 2024-03-31 OC420279 6 2023-04-01 2024-03-31 OC420279 d:PartnerLLP1 2023-04-01 2024-03-31 OC420279 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC420279 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC420279 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC420279 c:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 OC420279 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC420279 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC420279 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC420279 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC420279 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC420279










ANGLE PROPERTY (RECTORY FARM ASSET MANAGEMENT) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ANGLE PROPERTY (RECTORY FARM ASSET MANAGEMENT) LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 7


 
ANGLE PROPERTY (RECTORY FARM ASSET MANAGEMENT) LLP
REGISTERED NUMBER: OC420279

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
105,978
101,399

  
105,978
101,399

Current assets
  

Debtors: amounts falling due within one year
 5 
16,337
16,254

Cash at bank and in hand
 6 
5,014
240

  
21,351
16,494

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

Net current assets/(liabilities)
  
 
 
2,801
 
 
(706)

Total assets less current liabilities
  
108,779
100,693

  

Net assets
  
108,779
100,693


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
45,137
50,387

  
45,137
50,387

Members' other interests
  

Members' capital classified as equity
  
100
100

Members' contributions classified as equity
  
42,138
30,639

Other reserves classified as equity
  
21,404
19,567

  
 
63,642
 
50,306

  
108,779
100,693


Total members' interests
  

Loans and other debts due to members
 8 
45,137
50,387

Members' other interests
  
63,642
50,306

  
108,779
100,693


Page 1

 
ANGLE PROPERTY (RECTORY FARM ASSET MANAGEMENT) LLP
REGISTERED NUMBER: OC420279
    
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 Limited
Designated member

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

Page 2

 
ANGLE PROPERTY (RECTORY FARM 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
Other reserves
Total
Other amounts
Total

£
£
£
£
£
£

Amounts due to members 

55,269


Balance at 1 April 2022 
100
18,477
8,860
27,437
55,269
82,706

Members' remuneration charged as an expense
-
-
-
-
(4,882)
(4,882)

Profit for the year available for discretionary division among members
 
-
-
10,707
10,707
-
10,707

Members' interests after profit for the year
100
18,477
19,567
38,144
50,387
88,531

Amounts introduced by members
-
12,162
-
12,162
-
12,162

Amounts due to members
 




50,387


Balance at 31 March 2023
100
30,639
19,567
50,306
50,387
100,693

Members' remuneration charged as an expense
-
-
-
-
(5,250)
(5,250)

Profit for the year available for discretionary division among members
 
-
-
1,837
1,837
-
1,837

Members' interests after profit for the year
100
30,639
21,404
52,143
45,137
97,280

Amounts introduced by members
-
11,499
-
11,499
-
11,499

Amounts due to members
 




45,137


Balance at 31 March 2024 
100
42,138
21,404
63,642
45,137
108,779

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

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

1.


General information

Angle Property (Rectory Farm Asset Management) LLP is a limited liability partnership incorporated in England and Wales under the Limited Liability Partnerships Act 2000. 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 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.

 
2.4

Interest income

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

 
2.5

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.  

 
2.6

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 4

 
ANGLE PROPERTY (RECTORY FARM ASSET MANAGEMENT) 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 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

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

2.Accounting policies (continued)


2.9
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.


Members

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


4.


Fixed asset investments





Investments
Share of results
Loans to Investments
Fair value movements
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
3
67,987
13,842
19,567
101,399


Additions
-
-
3,114
1,837
4,951


Share of results
-
(372)
-
-
(372)



At 31 March 2024
3
67,615
16,956
21,404
105,978





5.


Debtors

2024
2023
£
£


Trade debtors
15,000
15,000

Other debtors
1,337
1,254

16,337
16,254


Page 6

 
ANGLE PROPERTY (RECTORY FARM ASSET MANAGEMENT) 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
5,014
240



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



8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
45,137
50,387

Total members' interest, including loans and other debts due to members, are unsecured and would rank Pari passu with other unsecured creditors in the event of winding up.




9.


Other reserves

Other reserves contains the fair value gains on the investment. These amounts are undistributable. 

 
Page 7