Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01falseRental of property33falsetruefalse OC411424 2023-05-01 2024-03-31 OC411424 2022-05-01 2023-04-30 OC411424 2024-03-31 OC411424 2023-04-30 OC411424 c:Buildings 2024-03-31 OC411424 c:Buildings 2023-04-30 OC411424 c:LandBuildings 2024-03-31 OC411424 c:LandBuildings 2023-04-30 OC411424 c:CurrentFinancialInstruments 2024-03-31 OC411424 c:CurrentFinancialInstruments 2023-04-30 OC411424 c:Non-currentFinancialInstruments 2024-03-31 OC411424 c:Non-currentFinancialInstruments 2023-04-30 OC411424 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC411424 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 OC411424 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC411424 c:Non-currentFinancialInstruments c:AfterOneYear 2023-04-30 OC411424 d:FRS102 2023-05-01 2024-03-31 OC411424 d:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 OC411424 d:FullAccounts 2023-05-01 2024-03-31 OC411424 d:LimitedLiabilityPartnershipLLP 2023-05-01 2024-03-31 OC411424 d:PartnerLLP2 2023-05-01 2024-03-31 OC411424 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC411424 c:FurtherSpecificReserve3ComponentTotalEquity 2023-04-30 OC411424 e:PoundSterling 2023-05-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC411424









CARENE PROPERTIES LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
CARENE PROPERTIES LLP
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CARENE PROPERTIES LLP
FOR THE PERIOD 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 Carene Properties LLP for the period 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. Our work has been undertaken solely to prepare for your approval the financial statements of Carene Properties LLP  and state those matters that we have agreed to state to the Carene Properties 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 Carene Properties LLP and its members for our work or for this report. 

It is your duty to ensure that Carene Properties 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 Carene Properties LLP. You consider that Carene Properties LLP is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Carene Properties 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.

  



Hillier Hopkins LLP
 
Chartered Accountants
  
Ground Floor
45 Pall Mall
London
SW1 5JG
29 January 2025
Page 1

 
CARENE PROPERTIES LLP
REGISTERED NUMBER: OC411424

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
30 April
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,129,965
1,129,965

  
1,129,965
1,129,965

Current assets
  

Debtors: amounts falling due within one year
 5 
47,990
48,341

Cash at bank and in hand
 6 
23,427
14,372

  
71,417
62,713

Creditors: Amounts Falling Due Within One Year
 7 
(47,165)
(46,240)

Net current assets
  
 
 
24,252
 
 
16,473

Total assets less current liabilities
  
1,154,217
1,146,438

Creditors: amounts falling due after more than one year
 8 
(218,912)
(240,183)

  
935,305
906,255

  

Net assets
  
935,305
906,255


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
935,305
906,255

  
935,305
906,255

  

  
935,305
906,255


Total members' interests
  

Loans and other debts due to members
 9 
935,305
906,255

  
935,305
906,255


Page 2

 
CARENE PROPERTIES LLP
REGISTERED NUMBER: OC411424
    
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: 




H L Hanley-McTaggart
Designated member

Date: 29 January 2025

The notes on pages 4 to 8 form part of these financial statements.

Carene Properties 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

 
CARENE PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Carene Properties LLP is a Limited Liability Partnership incorporated in England and Wales. 
The registered office is 4 Kilvey Road, Brackmills, Northampton, Northamptonshire, NN4 7BQ. 
The principal activity of Carene Properties LLP is the letting of property. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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.

 
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.

 
2.4

Borrowing costs

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

 
2.5

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 .

Page 4

 
CARENE PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

  
2.6

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.
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.

 
2.7

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.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2023 - 3).

Page 5

 
CARENE PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets







Freehold property

£



Cost or valuation


At 1 May 2023
1,129,965



At 31 March 2024

1,129,965






Net book value



At 31 March 2024
1,129,965



At 30 April 2023
1,129,965




The net book value of land and buildings may be further analysed as follows:


31 March
30 April
2024
2023
£
£

Freehold
1,129,965
1,129,965

1,129,965
1,129,965



5.


Debtors

31 March
30 April
2024
2023
£
£


Trade debtors
46,800
46,800

Prepayments and accrued income
1,190
1,541

47,990
48,341


Page 6

 
CARENE PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

6.


Cash and cash equivalents

31 March
30 April
2024
2023
£
£

Cash at bank and in hand
23,427
14,372

23,427
14,372



7.


Creditors: Amounts falling due within one year

31 March
30 April
2024
2023
£
£

Bank loans
38,440
38,439

Trade creditors
2,700
-

Other taxation and social security
3,550
5,601

Accruals and deferred income
2,475
2,200

47,165
46,240



8.


Creditors: Amounts falling due after more than one year

31 March
30 April
2024
2023
£
£

Bank loans
218,912
240,184

218,912
240,184


Page 7

 
CARENE PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

9.


Loans and other debts due to members


31 March
30 April
2024
2023
£
£



Other amounts due to members
935,305
906,255

935,305
906,255

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

31 March
30 April
2024
2023
£
£



Falling due within one year
935,305
906,255

935,305
906,255

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

At the balance sheet date the LLP was owed £46,800 (2023: £46,800) by companies under common control.

 
Page 8