Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-06-01Acting as a trustee00truetruefalse OC385315 2023-06-01 2024-05-31 OC385315 2022-06-01 2023-05-31 OC385315 2024-05-31 OC385315 2023-05-31 OC385315 c:CurrentFinancialInstruments 2024-05-31 OC385315 c:CurrentFinancialInstruments 2023-05-31 OC385315 c:CurrentFinancialInstruments 2 2024-05-31 OC385315 c:CurrentFinancialInstruments 2 2023-05-31 OC385315 c:CurrentFinancialInstruments c:WithinOneYear 2024-05-31 OC385315 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 OC385315 e:FRS102 2023-06-01 2024-05-31 OC385315 e:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 OC385315 e:FullAccounts 2023-06-01 2024-05-31 OC385315 e:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC385315 e:PartnerLLP1 2023-06-01 2024-05-31 OC385315 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-05-31 OC385315 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-05-31 OC385315 c:FurtherSpecificReserve2ComponentTotalEquity 2024-05-31 OC385315 c:FurtherSpecificReserve2ComponentTotalEquity 2023-05-31 OC385315 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: OC385315









FAISAL PROPERTIES LLP

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
FAISAL PROPERTIES LLP
REGISTERED NUMBER: OC385315

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
2,131
2,131

Creditors: Amounts Falling Due Within One Year
 6 
(1,420)
(1,339)

Net current assets
  
 
 
711
 
 
792

Total assets less current liabilities
  
711
792


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
13,576
11,709

Members' other interests
  

Members' capital classified as equity
  
5
5

Other reserves classified as equity
  
(12,870)
(10,922)

  
 
(12,865)
 
(10,917)

  
711
792


Total members' interests
  

Amounts due from members (included in debtors)
 5 
(2,131)
(2,131)

Loans and other debts due to members
 7 
13,576
11,709

Members' other interests
  
(12,865)
(10,917)

  
(1,420)
(1,339)


Page 1

 
FAISAL PROPERTIES LLP
REGISTERED NUMBER: OC385315

BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 by: 




A F Abukhadra
Designated member

Date: 14 November 2024

The notes on pages 4 to 6 form part of these financial statements.

Page 2

 
FAISAL PROPERTIES LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MAY 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)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Amounts due to members 
10,370
10,370


Amounts due from members 

(2,131)
(2,131)


Balance at 1 June 2022 
5
(9,463)
(9,458)
8,239
8,239
(1,219)

Loss for the year available for discretionary division among members
 
-
(1,459)
(1,459)
-
-
(1,459)

Members' interests after profit for the year
5
(10,922)
(10,917)
8,239
8,239
(2,678)

Amounts introduced by members
-
-
-
1,339
1,339
1,339

Amounts due to members
11,709
11,709

Amounts due from members
 



(2,131)
(2,131)


Balance at 31 May 2023
5
(10,922)
(10,917)
9,578
9,578
(1,339)

Loss for the year available for discretionary division among members
 
-
(1,948)
(1,948)
-
-
(1,948)

Members' interests after profit for the year
5
(12,870)
(12,865)
9,578
9,578
(3,287)

Amounts introduced by members
-
-
-
1,867
1,867
1,867

Amounts due to members
13,576
13,576

Amounts due from members
 



(2,131)
(2,131)


Balance at 31 May 2024 
5
(12,870)
(12,865)
11,445
11,445
(1,420)

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

 
FAISAL PROPERTIES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Faisal Properties LLP is a limited liability partnership, and incorporated in England and Wales. The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4AP.
The financial statements are presented in pounds sterling which is the functional currency of the LLP.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Capital Instrument

Members' capital is classified as equity. Other capital instruments are classified as liabilities if they contain an obligation to transfer economic benefits.

 
2.3

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.

 
2.4

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102.

Financial instruments are recognised in the LLP's Balance Sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 4

 
FAISAL PROPERTIES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.4
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 payments 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 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.

  
2.5

Taxation

No tax is reflected in the financial statements of the LLP since tax is borne by the individual members in their personal capacity on any attributable profit share that is allocated to them and not on the LLP itself.

Page 5

 
FAISAL PROPERTIES LLP
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The entity has no employees.


4.


Information in relation to members

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


5.


Debtors

2024
2023
£
£


Amounts due from members
2,131
2,131



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
79

Accruals and deferred income
1,420
1,260

1,420
1,339



7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
13,576
11,709



Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.


Page 6