Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity44truetruefalse OC305925 2023-04-01 2024-03-31 OC305925 2022-04-01 2023-03-31 OC305925 2024-03-31 OC305925 2023-03-31 OC305925 c:FurnitureFittings 2023-04-01 2024-03-31 OC305925 c:FurnitureFittings 2024-03-31 OC305925 c:FurnitureFittings 2023-03-31 OC305925 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC305925 c:OfficeEquipment 2023-04-01 2024-03-31 OC305925 c:OfficeEquipment 2024-03-31 OC305925 c:OfficeEquipment 2023-03-31 OC305925 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC305925 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC305925 c:FreeholdInvestmentProperty 2024-03-31 OC305925 c:FreeholdInvestmentProperty 2023-03-31 OC305925 c:CurrentFinancialInstruments 2024-03-31 OC305925 c:CurrentFinancialInstruments 2023-03-31 OC305925 c:Non-currentFinancialInstruments 2024-03-31 OC305925 c:Non-currentFinancialInstruments 2023-03-31 OC305925 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC305925 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC305925 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC305925 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC305925 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC305925 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC305925 d:FRS102 2023-04-01 2024-03-31 OC305925 d:Audited 2023-04-01 2024-03-31 OC305925 d:FullAccounts 2023-04-01 2024-03-31 OC305925 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC305925 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC305925 2 2023-04-01 2024-03-31 OC305925 6 2023-04-01 2024-03-31 OC305925 d:PartnerLLP1 2023-04-01 2024-03-31 OC305925 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC305925 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC305925 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC305925 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC305925 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC305925









ACT 111 LLP









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ACT 111 LLP
REGISTERED NUMBER: OC305925

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,808
48,333

Investments
 5 
300,000
-

Investment property
 6 
10,665,396
10,665,396

  
10,989,204
10,713,729

Current assets
  

Debtors: amounts falling due within one year
 7 
61,659
41,546

Cash at bank and in hand
 8 
592,519
1,229,911

  
654,178
1,271,457

Creditors: Amounts Falling Due Within One Year
 9 
(306,057)
(306,468)

Net current assets
  
 
 
348,121
 
 
964,989

Total assets less current liabilities
  
11,337,325
11,678,718

Creditors: amounts falling due after more than one year
 10 
(2,850,000)
(2,925,000)

  
8,487,325
8,753,718

  

Net assets
  
8,487,325
8,753,718


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
7,193,456
7,193,456

Other reserves classified as equity
  
1,293,869
1,560,262

  
 
8,487,325
 
8,753,718

  
8,487,325
8,753,718


Total members' interests
  

Members' other interests
  
8,487,325
8,753,718

  
8,487,325
8,753,718


Page 1

 
ACT 111 LLP
REGISTERED NUMBER: OC305925
    
STATEMENT OF FINANCIAL POSITION (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 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 15 November 2024.




Jeremy Sinclair
Designated member

The notes on pages 3 to 9 form part of these financial statements.

ACT 111 LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of Changes in Equity.

Page 2

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

 ACT111 LLP ("the LLP") is incorporated in the United Kingdom. The Registered Office is 12-13 Kingly Street, London, England, W1B 5PP. The nature of the company's operations and principal activities are investment in and rental of commercial property

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 3

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

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 .

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
over 3 years
Office equipment
-
over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted LLP shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

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.

 
2.12

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.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
71,276
10,421
81,697



At 31 March 2024

71,276
10,421
81,697



Depreciation


At 1 April 2023
29,022
4,343
33,365


Charge for the year on owned assets
21,051
3,473
24,524



At 31 March 2024

50,073
7,816
57,889



Net book value



At 31 March 2024
21,203
2,605
23,808



At 31 March 2023
42,255
6,078
48,333

Page 6

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
300,000



At 31 March 2024
300,000





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
10,665,396



At 31 March 2024
10,665,396

The 2024 valuations were made by the independent valuer, on an open market value for existing use basis.








7.


Debtors

2024
2023
£
£


Trade debtors
-
31,265

Other debtors
25,845
7,563

Prepayments and accrued income
35,813
2,717

61,658
41,545


Page 7

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
592,519
1,229,911

592,519
1,229,911



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
75,000
100,000

Trade creditors
62,063
6,189

Other taxation and social security
27,485
34,791

Accruals and deferred income
141,509
165,488

306,057
306,468



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,850,000
2,925,000

2,850,000
2,925,000


Page 8

 
ACT 111 LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
75,000
100,000


75,000
100,000


Amounts falling due 2-5 years

Bank loans
2,850,000
2,925,000


2,850,000
2,925,000


2,925,000
3,025,000



12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 15 November 2024 by Stephen Haffner (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 9