Silverfin false 05/04/2024 06/04/2023 05/04/2024 J P East 13/06/2022 G M Thornton 24/07/2006 12 November 2024 OC321160 2024-04-05 OC321160 bus:Director1 2024-04-05 OC321160 bus:Director2 2024-04-05 OC321160 2023-04-05 OC321160 core:CurrentFinancialInstruments 2024-04-05 OC321160 core:CurrentFinancialInstruments 2023-04-05 OC321160 2023-04-06 2024-04-05 OC321160 bus:FullAccounts 2023-04-06 2024-04-05 OC321160 bus:SmallEntities 2023-04-06 2024-04-05 OC321160 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 OC321160 bus:LimitedLiabilityPartnershipLLP 2023-04-06 2024-04-05 OC321160 bus:Director1 2023-04-06 2024-04-05 OC321160 bus:Director2 2023-04-06 2024-04-05 OC321160 2022-04-06 2023-04-05 iso4217:GBP xbrli:pure

Company No: OC321160 (England and Wales)

CARDIGAN ROAD LLP

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

CARDIGAN ROAD LLP

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

CARDIGAN ROAD LLP

BALANCE SHEET

As at 05 April 2024
CARDIGAN ROAD LLP

BALANCE SHEET (continued)

As at 05 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 1 1
1 1
Current assets
Debtors 4 47,033 47,476
Cash at bank and in hand 1,179 480
48,212 47,956
Creditors: amounts falling due within one year 5 ( 1,138) ( 882)
Net current assets 47,074 47,074
Total assets less current liabilities 47,075 47,075
Net assets attributable to members 47,075 47,075
Represented by
Members' other interests
Members' capital classified as equity 47,075 47,075
47,075 47,075
47,075 47,075
Total members' interests
Amounts due from members (included in debtors) (46,117) (46,324)
Members' other interests 47,075 47,075
958 751

For the financial year ending 05 April 2024 the LLP 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.

Members' responsibilities:

The financial statements of Cardigan Road LLP (registered number: OC321160) were approved and authorised for issue by the Board of Directors on 12 November 2024. They were signed on its behalf by:

G M Thornton
Designated member
CARDIGAN ROAD LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
CARDIGAN ROAD LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cardigan Road LLP is a limited liability partnership, incorporated in the United Kingdom under the Limited Liability Partnerships Act 2000 and is registered in England and Wales. The address of the LLP's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Limited Liability Partnerships Act 2000 as applicable to companies subject to the small companies regime and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships issued in December 2021 (SORP 2022).

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty. Revenue comprises of rents receivable.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Members' participation rights

The SORP recognises that the basis of calculating profits for allocation may differ from the profits reflected through the financial statements prepared in compliance with recommended practice, given the established need to seek to focus profit allocation on ensuring equity between different generations and populations of members.

Consolidation of the results of certain subsidiary undertakings, the provision for annuities to current and former members, pension scheme charges, the spreading of acquisition integration costs and the treatment of long leasehold interests are all items which may generate differences between profits calculated for the purpose of allocation and those reported within the financial statements. Where such differences arise, they have been included within other amounts in the balance sheet.

Members' fixed shares of profits (excluding discretionary fixed share bonuses) and interest earned on members' balances are automatically allocated and treated as members' remuneration charged as an expense to the profit and loss account in arriving at profit available for discretionary division among members.

The remainder of profit shares, which have not been allocated until after the balance sheet date, are treated in these financial statements as unallocated at the balance sheet date and included within other reserves.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 2 2

3. Investment property

Investment property
£
Valuation
As at 06 April 2023 1
As at 05 April 2024 1

The investment property comprises a residuary freehold interest, valued by the members at £1.

4. Debtors

2024 2023
£ £
Amounts owed by members 46,117 46,324
Prepayments 916 0
Other debtors 0 1,152
47,033 47,476

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 960 882
Other creditors 178 0
1,138 882