Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseProperty development44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC440007 2023-04-01 2024-03-31 OC440007 2021-11-19 2023-03-31 OC440007 2024-03-31 OC440007 2023-03-31 OC440007 c:CurrentFinancialInstruments 2024-03-31 OC440007 c:CurrentFinancialInstruments 2023-03-31 OC440007 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC440007 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC440007 d:FRS102 2023-04-01 2024-03-31 OC440007 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC440007 d:FullAccounts 2023-04-01 2024-03-31 OC440007 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC440007 6 2023-04-01 2024-03-31 OC440007 d:PartnerLLP1 2023-04-01 2024-03-31 OC440007 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC440007 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC440007 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC440007 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC440007 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC440007 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC440007 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC440007










PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP
 

CONTENTS



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


 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP
REGISTERED NUMBER: OC440007

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Restated 2023
 
£
£

Fixed assets
  

Investments
 4 
172,693
186,568

  
172,693
186,568

Current assets
  

Debtors: amounts falling due within one year
 5 
1,432
1,409

Cash at bank and in hand
 6 
13,678
25,550

  
15,110
26,959

Creditors: Amounts Falling Due Within One Year
 7 
(3,550)
(4,070)

Net current assets
  
 
 
11,560
 
 
22,889

Total assets less current liabilities
  
184,253
209,457

  

Net assets
  
184,253
209,457


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
(129,284)
(104,080)

  
(129,284)
(104,080)

Members' other interests
  

Members' capital classified as equity
  
100
100

Members' contribution classified as equity
  
313,437
313,437

  
 
313,537
 
313,537

  
184,253
209,457


Total members' interests
  

Loans and other debts due to members
  
(129,284)
(104,080)

Members' other interests
  
313,537
313,537

  
184,253
209,457


Page 1

 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP
REGISTERED NUMBER: OC440007
    
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

 
PACKAGED LIVING (FREOF V BOURNEMOUTH 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' contribution
Total
Other amounts
Total
Total

£
£
£
£
£
£

Members' remuneration charged as an expense
 
-
-
-
(104,080)
(104,080)
(104,080)

Members' interests after profit for the year
-
-
-
(104,080)
(104,080)
(104,080)

Amounts introduced by members
-
313,437
313,437
-
-
313,437

Amounts introduced by members
100
-
100
-
-
100

Amounts due to members
 



(104,080)
(104,080)


Balance at 31 March 2023
100
313,437
313,537
(104,080)
(104,080)
209,457

Members' remuneration charged as an expense
 
-
-
-
(25,204)
(25,204)
(25,204)

Members' interests after profit for the year
100
313,437
313,537
(129,284)
(129,284)
184,253

Amounts due to members
 



(129,284)
(129,284)


Balance at 31 March 2024 
100
313,437
313,537
(129,284)
(129,284)
184,253

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

 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Packaged Living (FREOF V Bournemouth PM) 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

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.

 
2.3

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
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

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

 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) 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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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.
Page 5

 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


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).


4.


Fixed asset investments





Current account
Investments
Loans to investments
Total

£
£
£
£



Cost or valuation


At 1 April 2023
(99,064)
4
285,628
186,568


Additions
-
-
8,515
8,515


Share of profit/(loss)
(22,390)
-
-
(22,390)



At 31 March 2024
(121,454)
4
294,143
172,693




Page 6

 
PACKAGED LIVING (FREOF V BOURNEMOUTH PM) LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
1,332
1,309

Called up share capital not paid
100
100

1,432
1,409



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
13,678
25,550



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
3,550
4,070



8.


Prior period adjustment

In the prior period, members' contributions of £313,437 were classified as debt. As the LLP is not contractually obliged to pay back these contributions, a prior period adjustment has been made to transfer this amount to equity. This adjustment has had no impact on the opening net assets of the LLP as at 1 April 2023.


9.


Loans and other debts due to members

2024
2023
        £
        £

Other amounts due from members

(129,284)

(104,080)


 
Page 7