Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsetrueNo description of principal activity02trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC398888 2023-04-01 2024-03-31 OC398888 2022-04-01 2023-03-31 OC398888 2024-03-31 OC398888 2023-03-31 OC398888 c:FreeholdInvestmentProperty 2024-03-31 OC398888 c:FreeholdInvestmentProperty 2023-03-31 OC398888 c:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 OC398888 c:CurrentFinancialInstruments 2024-03-31 OC398888 c:CurrentFinancialInstruments 2023-03-31 OC398888 c:Non-currentFinancialInstruments 2024-03-31 OC398888 c:Non-currentFinancialInstruments 2023-03-31 OC398888 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC398888 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC398888 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC398888 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC398888 e:FRS102 2023-04-01 2024-03-31 OC398888 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC398888 e:FullAccounts 2023-04-01 2024-03-31 OC398888 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC398888 2 2023-04-01 2024-03-31 OC398888 e:PartnerLLP1 2023-04-01 2024-03-31 OC398888 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC398888 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC398888 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC398888 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC398888 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC398888









EYWOOD PARTNERS LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
EYWOOD PARTNERS LLP
REGISTERED NUMBER: OC398888

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
47,375,000
50,925,000

  
47,375,000
50,925,000

Current assets
  

Debtors: amounts falling due within one year
 6 
35,738,112
34,608,569

Cash at bank and in hand
  
854,385
954,896

  
36,592,497
35,563,465

Creditors: Amounts Falling Due Within One Year
 7 
(32,922,683)
(720,287)

Net current assets
  
 
 
3,669,814
 
 
34,843,178

Total assets less current liabilities
  
51,044,814
85,768,178

Creditors: amounts falling due after more than one year
 8 
(345,472)
(32,482,272)

  
50,699,342
53,285,906

  

Net assets
  
50,699,342
53,285,906


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Members' capital classified as equity
  
53,285,906
53,285,906

Other reserves classified as equity
  
(2,586,564)
-

  
 
50,699,342
 
53,285,906

  
50,699,342
53,285,906


Total members' interests
  

Members' other interests
  
50,699,342
53,285,906

  
50,699,342
53,285,906


Page 1

 
EYWOOD PARTNERS LLP
REGISTERED NUMBER: OC398888
    
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 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 22 November 2024.




L K Harley
Designated member

The notes on pages 3 to 7 form part of these financial statements.

Eywood Partners 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

 
EYWOOD PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Eywood Partners LLP is a limited liability partnership, registered in England & Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS.

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 Partnership has agreed a renewal of its bank loan facility due to take place in January 2025.
After reviewing the LLP's forecasts and projections, the designated members have a reasonable expectation that the LLP has adequate resources to continue in operational existence for the foreseeable future. The LLP therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Functional and presentational currency

The LLP's functional and presentational currency is GBP.

 
2.4

Revenue

Revenue relates to rental income and 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.
Rental revenue as lessor
Investment properties are leased to tenants under operating leases. The rental income receivable under these leases is recognised through profit and loss on a straight line basis over the term of the lease. Any rent-free period is spread over the period of the lease. Since the risks and rewards of ownership have not been transferred to the lessee, the assets held under these leases continue to be recognised in the company's financial statements.

 
2.5

Interest income

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

 
2.6

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.

Page 3

 
EYWOOD PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Borrowing costs

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

 
2.8

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 .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
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.

 
2.10

Financial instruments

The LLP only enters into basic financial instrument 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.

Page 4

 
EYWOOD PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires members to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Accruals
The LLP makes an estimate of accruals at the year end based on invoices received after the year end and work undertaken which has not been invoiced based on quotations or estimates of amounts that may be due for payment.
Revaluation of investment property
The LLP carries its investment property at fair value, with changes in fair value being recognised through profit and loss. The valuation technique used is based on an open market value for existing use. The determined fair value of the investment property is most sensitive to the estimated yield as well as the long term vacancy rate. 


4.


Information in relation to members

2024
2023



The average number of members in the year was
2
2


5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
50,925,000


Loss on revaluation
(3,550,000)



At 31 March 2024
47,375,000

The 2024 valuations were made by Colliers International Valuation UK LLP, on an open market value for existing use basis.






Page 5

 
EYWOOD PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
191,173
142,846

Other debtors
35,498,500
34,357,853

Prepayments and accrued income
48,439
107,870

35,738,112
34,608,569



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
32,150,000
-

Trade creditors
165,664
109,837

Other taxation and social security
38,212
33,205

Accruals and deferred income
568,807
577,245

32,922,683
720,287



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
32,150,000

Other creditors
345,472
332,272

345,472
32,482,272



9.


Contingent liabilities

The LLP is party to a cross-guarantee arrangement with its lender in connection with its borrowings and those of 15 Cavendish Square Limited, a BVI company under the common control of the designated member, L K Harley.

Page 6

 
EYWOOD PARTNERS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Related party transactions

At the reporting date, the LLP was owed £35,086,182 (2022: £33,945,534) by L K Harley, a member of the LLP and £412,318 (2023: £412,319) by HPH (Cavendish Square) Ltd, a company owned and controlled by L K Harley. The amounts were provided interest-free, unsecured and is repayable on demand.
There are no further transactions with related parties that are material and have not been conducted under normal market conditions.

 
Page 7