Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31trueNo description of principal activity0truefalse02023-04-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC426186 2023-04-01 2024-03-31 OC426186 2022-04-01 2023-03-31 OC426186 2024-03-31 OC426186 2023-03-31 OC426186 c:CurrentFinancialInstruments 2024-03-31 OC426186 c:CurrentFinancialInstruments 2023-03-31 OC426186 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC426186 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC426186 d:FRS102 2023-04-01 2024-03-31 OC426186 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC426186 d:FullAccounts 2023-04-01 2024-03-31 OC426186 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC426186 d:PartnerLLP3 2023-04-01 2024-03-31 OC426186 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC426186 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC426186 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC426186









OLDLAND COMMON LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
OLDLAND COMMON LLP
REGISTERED NUMBER: OC426186

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
472,500
697,634

Debtors: amounts falling due within one year
 4 
774,868
2,915,134

Cash at bank and in hand
 5 
2,060,975
924,793

  
3,308,343
4,537,561

Creditors: Amounts Falling Due Within One Year
 6 
(2,114,327)
(2,876,694)

Net current assets
  
 
 
1,194,016
 
 
1,660,867

Total assets less current liabilities
  
1,194,016
1,660,867

  

Net assets
  
1,194,016
1,660,867


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
1,194,016
1,660,867

  
1,194,016
1,660,867

  

  
1,194,016
1,660,867


Total members' interests
  

Loans and other debts due to members
 7 
1,194,016
1,660,867

  
1,194,016
1,660,867


Page 1

 
OLDLAND COMMON LLP
REGISTERED NUMBER: OC426186
    
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 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 by: 




M Freed (for and on behalf of Freed Properties Limited)
Designated member

Date: 5 November 2024

The notes on pages 3 to 6 form part of these financial statements.

Oldland Common 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

 
OLDLAND COMMON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Oldland Common LLP is a limited liability partnership, incorporated in England & Wales (registered number: OC426186). The registered office of the LLP is 7 Whiteladies Road, Bristol, BS8 1NN.
The financial statements are presented in Sterling, which is the functional currency of the limited liability partnership.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice "Accounting by Limited Liability Partnerships".

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

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

 
OLDLAND COMMON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 .

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
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.


3.


Employees

The entity has no employees.

Page 4

 
OLDLAND COMMON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
2023
£
£


Trade debtors
521,279
2,404,000

Other debtors
253,259
511,134

Prepayments and accrued income
330
-

774,868
2,915,134



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,060,975
924,793

2,060,975
924,793



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
585,102
30,000

Other creditors
170,000
6,972

Accruals and deferred income
1,359,225
2,839,722

2,114,327
2,876,694


Page 5

 
OLDLAND COMMON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
1,194,016
1,660,867

1,194,016
1,660,867

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

2024
2023
£
£



Falling due within one year
1,194,016
1,660,867

1,194,016
1,660,867

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

 
Page 6