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Registered number: OC425644









TOBIAS-GIBBINS PROPERTIES LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2024

 
TOBIAS-GIBBINS PROPERTIES LLP
REGISTERED NUMBER: OC425644

BALANCE SHEET
AS AT 5 APRIL 2024

2024
2023
                                                                          Note
£
£

Fixed assets
  

Investments
 4 
573,477
573,477

  

Creditors: Amounts Falling Due Within One Year
 5 
(4,420)
(4,420)

Net current liabilities
  
 
 
(4,420)
 
 
(4,420)

Total assets less current liabilities
  
569,057
569,057

  

Net assets
  
569,057
569,057


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 6 
569,057
569,057

  

  
569,057
569,057


Total members' interests
  

Loans and other debts due to members
 6 
569,057
569,057

  
569,057
569,057


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 480 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 profit and loss account in accordance with the provisions applicable to entities subject to the small LLPs regime.
 
Page 1

 
TOBIAS-GIBBINS PROPERTIES LLP
REGISTERED NUMBER: OC425644
    
BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2024


The financial statements were approved and authorised for issue by the members and were signed on their behalf on 3 February 2025.




P Tobias-Gibbins
Designated member

The notes on pages 3 to 5 form part of these financial statements.

Tobias-Gibbins 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 2

 
TOBIAS-GIBBINS PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Tobias-Gibbins Properties LLP ("the LLP") is a Limited Liability Partnership and is incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

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.

 
2.2

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 .

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

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.

 
2.5

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the LLP's Balance sheet when the LLP becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in
Page 3

 
TOBIAS-GIBBINS PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)

the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments (other than those wholly repayable or receivable within one year), including loansand other accounts receivable and payable, are initially measured at present value of the future cashflows and subsequently at amortised cost using the effective interest method. Debt instruments thatare payable or receivable within one year, typically trade debtors and creditors, are measured, initiallyand subsequently, at the undiscounted amount of the cash or other consideration expected to be paidor received.


3.


Employees




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


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 6 April 2023
573,477



At 5 April 2024
573,477




Page 4

 
TOBIAS-GIBBINS PROPERTIES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
1,980
1,980

Accruals and deferred income
2,440
2,440

4,420
4,420



6.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
569,057
569,057

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

2024
2023
£
£



Falling due within one year
569,057
569,057

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

Page 5