Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activity2023-04-01false22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC335978 2023-04-01 2024-03-31 OC335978 2022-04-01 2023-03-31 OC335978 2024-03-31 OC335978 2023-03-31 OC335978 c:FurnitureFittings 2023-04-01 2024-03-31 OC335978 c:FurnitureFittings 2024-03-31 OC335978 c:FurnitureFittings 2023-03-31 OC335978 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 OC335978 c:FreeholdInvestmentProperty 2024-03-31 OC335978 c:FreeholdInvestmentProperty 2023-03-31 OC335978 c:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 OC335978 c:CurrentFinancialInstruments 2024-03-31 OC335978 c:CurrentFinancialInstruments 2023-03-31 OC335978 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC335978 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC335978 e:FRS102 2023-04-01 2024-03-31 OC335978 e:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC335978 e:FullAccounts 2023-04-01 2024-03-31 OC335978 e:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC335978 e:PartnerLLP1 2023-04-01 2024-03-31 OC335978 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC335978 c:FurtherSpecificReserve2ComponentTotalEquity 2023-03-31 OC335978 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC335978 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC335978 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC335978









MILLSTREAM HOUSE LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
MILLSTREAM HOUSE LLP
REGISTERED NUMBER: OC335978

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,705
3,427

Investment property
 5 
541,666
388,417

  
544,371
391,844

Current assets
  

Stocks
 6 
33,515
64,929

Debtors: amounts falling due within one year
 7 
6,586
6,167

Cash at bank and in hand
 8 
60,359
36,269

  
100,460
107,365

Creditors: Amounts Falling Due Within One Year
 9 
(38,883)
(37,014)

Net current assets
  
 
 
61,577
 
 
70,351

Total assets less current liabilities
  
605,948
462,195

  

Net assets
  
605,948
462,195


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
452,699
462,195

  
452,699
462,195

Members' other interests
  

Other reserves classified as equity
  
153,249
-

  
 
153,249
 
-

  
605,948
462,195


Total members' interests
  

Loans and other debts due to members
  
452,699
462,195

Members' other interests
  
153,249
-

  
605,948
462,195


Page 1

 
MILLSTREAM HOUSE LLP
REGISTERED NUMBER: OC335978
    
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 on 20 December 2024.






................................................
V E Balleny
Designated member

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

Page 2

 
MILLSTREAM HOUSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Millstream House LLP is a limited liability partnership registered in England and Wales. The address of the registered office address is 164 Grove Lane, London, SE5 8BP. The principal activity of the LLP is that of property investment and rental.

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

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.

Page 3

 
MILLSTREAM HOUSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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
-
10%
straight line

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.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the members 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 the Statement of comprehensive income.

 
2.6

Work in progress

Work in progress is 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.

At each balance sheet date, work in progress is assessed for impairment. If work in progress 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.

 
2.7

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.

 
2.8

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.

Page 4

 
MILLSTREAM HOUSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Financial instruments

The company 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, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
9,157



At 31 March 2024

9,157



Depreciation


At 1 April 2023
5,730


Charge for the year on owned assets
722



At 31 March 2024

6,452



Net book value



At 31 March 2024
2,705



At 31 March 2023
3,427

Page 5

 
MILLSTREAM HOUSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
388,417


Surplus on revaluation
153,249



At 31 March 2024
541,666

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




6.


Work in progress

2024
2023
£
£

Work in progress
33,515
64,929

33,515
64,929



7.


Debtors

2024
2023
£
£


Prepayments and accrued income
6,586
6,167

6,586
6,167



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
60,359
36,269

60,359
36,269


Page 6

 
MILLSTREAM HOUSE LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
30,410
28,610

Accruals and deferred income
8,473
8,404

38,883
37,014


 
Page 7