Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truetruerental of commercial propertyfalse0false2023-04-010The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC426779 2023-04-01 2024-03-31 OC426779 2022-04-01 2023-03-31 OC426779 2024-03-31 OC426779 2023-03-31 OC426779 c:CurrentFinancialInstruments 2024-03-31 OC426779 c:CurrentFinancialInstruments 2023-03-31 OC426779 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC426779 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC426779 d:FRS102 2023-04-01 2024-03-31 OC426779 d:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 OC426779 d:FullAccounts 2023-04-01 2024-03-31 OC426779 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC426779 d:PartnerLLP1 2023-04-01 2024-03-31 OC426779 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC426779 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC426779 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC426779 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC426779 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC426779









CAMVALE PROPERTY LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CAMVALE PROPERTY LLP
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CAMVALE PROPERTY LLP
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Camvale Property LLP for the year ended 31 March 2024 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 23 September 2020Our work has been undertaken solely to prepare for your approval the financial statements of Camvale Property LLP and state those matters that we have agreed to state to the Camvale Property LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Camvale Property LLP and its members for our work or for this report. 

It is your duty to ensure that Camvale Property LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Camvale Property LLP. You consider that Camvale Property LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Camvale Property LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  





MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ

30 September 2024
Page 1

 
CAMVALE PROPERTY LLP
REGISTERED NUMBER: OC426779

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
  
1,167,000
1,167,000

  
1,167,000
1,167,000

Current assets
  

Debtors: amounts falling due within one year
 5 
12,174
100

Cash at bank and in hand
  
26,979
4,514

  
39,153
4,614

Creditors: Amounts Falling Due Within One Year
 6 
(28,056)
(2,887)

Net current assets
  
 
 
11,097
 
 
1,727

Total assets less current liabilities
  
1,178,097
1,168,727

  

Net assets
  
1,178,097
1,168,727


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
1,003,337
1,003,337

Other amounts
 7 
174,660
165,290

  
1,177,997
1,168,627

Members' other interests
  

Members' capital classified as equity
  
100
100

  
 
100
 
100

  
1,178,097
1,168,727


Total members' interests
  

Loans and other debts due to members
 7 
1,177,997
1,168,627

Members' other interests
  
100
100

  
1,178,097
1,168,727


Page 2

 
CAMVALE PROPERTY LLP
REGISTERED NUMBER: OC426779
    
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 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 on 30 September 2024.






P H Marriage
Designated member

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

Camvale Property 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 3

 
CAMVALE PROPERTY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Camvale Property LLP is a Limited Liability Partnership incorporated in England and Wales. The address of its registered office is Foresters Cottage, Stoney Heath, Basingstoke, RG26 5SW.
The LLP's principal activity is the rent 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

Going concern

The members have considered a period of twelve months from the date of approval of the financial statements.  They consider that projected income together with current cash reserves will be more than adequate for the LLP to continue trading for the foreseeable future.  As such they believe that the financial statements should be prepared on the going concern basis.

 
2.3

Revenue

Turnover comprises rents receivable by the LLP, recognised on an accruals basis.

 
2.4

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 the profit and loss account.

 
2.5

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

 
CAMVALE PROPERTY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
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 only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The entity has no employees.


4.


Investment property




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,014,500
1,014,500

1,014,500
1,014,500

Page 5

 
CAMVALE PROPERTY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
186
100

Prepayments and accrued income
11,988
-

12,174
100



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
28,056
2,887

28,056
2,887



7.


Loans and other debts due to members


2024
2023
£
£



Members' capital treated as debt
1,003,337
1,003,337

Other amounts due to members
174,660
165,290

1,177,997
1,168,627

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due after more than one year
1,177,997
1,168,627

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

 
Page 6