Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseThe principal activity of the LLP during the period under review was letting and operation of own real estate.00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC436114 2023-04-01 2024-03-31 OC436114 2022-04-01 2023-03-31 OC436114 2024-03-31 OC436114 2023-03-31 OC436114 c:FreeholdInvestmentProperty 2023-04-01 2024-03-31 OC436114 c:FreeholdInvestmentProperty 2024-03-31 OC436114 c:FreeholdInvestmentProperty 2023-03-31 OC436114 c:CurrentFinancialInstruments 2024-03-31 OC436114 c:CurrentFinancialInstruments 2023-03-31 OC436114 c:Non-currentFinancialInstruments 2024-03-31 OC436114 c:Non-currentFinancialInstruments 2023-03-31 OC436114 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC436114 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC436114 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC436114 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC436114 d:FRS102 2023-04-01 2024-03-31 OC436114 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC436114 d:FullAccounts 2023-04-01 2024-03-31 OC436114 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC436114 d:PartnerLLP3 2023-04-01 2024-03-31 OC436114 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC436114 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-03-31 OC436114 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC436114 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC436114 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: OC436114














NORTH ANGLIA PROPERTIES 1 LLP
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
NORTH ANGLIA PROPERTIES 1 LLP
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 6


 
NORTH ANGLIA PROPERTIES 1 LLP
REGISTERED NUMBER:OC436114

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
1,644,647
1,622,302

  
1,644,647
1,622,302

Current assets
  

Debtors: amounts falling due within one year
 6 
14,616
8,450

Cash at bank and in hand
  
8,849
19,270

  
23,465
27,720

Current liabilities
  

Creditors: Amounts Falling Due Within One Year
 7 
(30,168)
(16,457)

Net current (liabilities)/assets
  
 
 
(6,703)
 
 
11,263

Total assets less current liabilities
  
1,637,944
1,633,565

Creditors: amounts falling due after more than one year
 8 
(577,217)
(585,761)

Net assets
  
1,060,727
1,047,804


Represented by:
  

Loans and other debts due to members within one year
  

Loans and other debts due to members
 9 
356,004
343,081

  
356,004
343,081

Members' other interests
  

Members' capital

  

704,723
704,723

  
 
704,723
 
704,723

  
1,060,727
1,047,804


Total members' interests
  

Loans and other debts due to members
 9 
356,004
343,081

Members' other interests
  
704,723
704,723

  
1,060,727
1,047,804


Page 1

 
NORTH ANGLIA PROPERTIES 1 LLP
REGISTERED NUMBER:OC436114
    
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 2 January 2025.




................................................
North Anglia R.E. Ltd
Designated member

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

North Anglia Properties 1 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

 
NORTH ANGLIA PROPERTIES 1 LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

North Anglia Properties 1 LLP is a limited liability partnership and incorporated in England and Wales. The registered address is Flat 4, 66 Maresfield Gardens, London, England, NW3 5TD.
The limited liability partnership's principal activity is disclosed in the Members' Report. 
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

Turnover

Turnover in the year represents rental income received from the properties net of value added tax.
Rental income is recognised on a calendar basis.

 
2.3

Borrowing costs

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

 
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

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 3

 
NORTH ANGLIA PROPERTIES 1 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.


3.

Information in relation to members

2024
2023
        £
        £
Profit distribution

21,600

58,046
 
Interest

24,645

-
 

46,245

58,046
 

Members' remuneration charged as an expense are amounts in relation to other payments arising from components of members participation rights in the profits for the year.
Automatic division of losses are assessed at the year end and are split in accordance with the members agreement.


4.


Employees

The entity has no employees.

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).

Page 4

 
NORTH ANGLIA PROPERTIES 1 LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Investment property

£



Valuation


At 1 April 2023
1,622,302


Additions at cost
22,345



At 31 March 2024
1,644,647

The investment properties were valued by the members on 31 March 2024 on a fair value basis.









6.


Debtors

2024
2023
£
£


Trade debtors
3,648
-

Amounts due by related parties
180
650

Prepayments and accrued income
6,406
7,800

Other debtors
4,381
-

14,615
8,450



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,544
8,544

Trade creditors
17,995
783

Amounts owed to related parties
719
-

Other creditors
926
2,631

Accruals
1,984
4,499

30,168
16,457


Page 5

 
NORTH ANGLIA PROPERTIES 1 LLP
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
577,217
585,761

577,217
585,761


Bank loans are secured over the assets of the LLP.


9.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
356,004
343,081

356,004
343,081

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

2024
2023
£
£



Falling due within one year
356,004
343,081

356,004
343,081

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


10.


Related party transactions

Amounts owed to and from related parties are advances to entities in which members have material interests. These amounts are interest free and repayable on demand.

 
Page 6