IRIS Accounts Production v24.3.2.46 OC325472 designated member 1.7.23 30.6.24 30.6.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhOC3254722023-06-30OC3254722024-06-30OC3254722023-07-012024-06-30OC3254722022-06-30OC3254722022-07-012023-06-30OC3254722023-06-30OC325472ns15:EnglandWales2023-07-012024-06-30OC325472ns14:PoundSterling2023-07-012024-06-30OC325472ns10:PartnerLLP12023-07-012024-06-30OC325472ns10:LimitedLiabilityPartnershipLLP2023-07-012024-06-30OC325472ns10:SmallEntities2023-07-012024-06-30OC325472ns10:AuditExemptWithAccountantsReport2023-07-012024-06-30OC325472ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-30OC325472ns10:LimitedLiabilityPartnershipsSORP2023-07-012024-06-30OC325472ns10:FullAccounts2023-07-012024-06-30OC325472ns10:RegisteredOffice2023-07-012024-06-30OC325472ns5:CurrentFinancialInstruments2024-06-30OC325472ns5:CurrentFinancialInstruments2023-06-30OC325472ns5:Non-currentFinancialInstruments2024-06-30OC325472ns5:Non-currentFinancialInstruments2023-06-30OC325472ns5:FurnitureFittings2023-06-30OC325472ns5:FurnitureFittings2024-06-30OC325472ns5:FurnitureFittings2023-06-30OC325472ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-30OC325472ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30
REGISTERED NUMBER: OC325472 (England and Wales)















PCSP LLP

Financial Statements For The Year Ended 30 June 2024






PCSP LLP (Registered number: OC325472)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 6

PCSP LLP

General Information
For The Year Ended 30 June 2024







DESIGNATED MEMBERS: PC Property Holdings Limited
K.D.M. Partners LLP





REGISTERED OFFICE: 23a Church Road
Parkstone
Poole
Dorset
BH14 8UF





REGISTERED NUMBER: OC325472 (England and Wales)





ACCOUNTANTS: SSM Accountants Limited
23a Church Road
Parkstone
Poole
Dorset
BH14 8UF

PCSP LLP (Registered number: OC325472)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 250,000 300,000
250,000 300,000

CURRENT ASSETS
Debtors 6 536,912 507,545
Cash at bank 6,678 17,062
543,590 524,607
CREDITORS
Amounts falling due within one year 7 16,432 29,137
NET CURRENT ASSETS 527,158 495,470
TOTAL ASSETS LESS CURRENT
LIABILITIES

777,158

795,470

CREDITORS
Amounts falling due after more than one
year

8

107,026

106,338
NET ASSETS ATTRIBUTABLE TO
MEMBERS

670,132

689,132

LOANS AND OTHER DEBTS DUE TO
MEMBERS

9

157,132

176,132

MEMBERS' OTHER INTERESTS
Capital accounts 513,000 513,000
670,132 689,132

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 9 157,132 176,132
Members' other interests 513,000 513,000
Amounts due from members 6 (534,286 ) (507,079 )
135,846 182,053

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

PCSP LLP (Registered number: OC325472)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 3 February 2025 and were signed by:





PC Property Holdings Limited - Designated member

PCSP LLP (Registered number: OC325472)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

PCSP LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 6,500
DEPRECIATION
At 1 July 2023
and 30 June 2024 6,500
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 300,000
Revaluations (50,000 )
At 30 June 2024 250,000
NET BOOK VALUE
At 30 June 2024 250,000
At 30 June 2023 300,000

PCSP LLP (Registered number: OC325472)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2017 775,000
Valuation in 2019 (25,000 )
Valuation in 2023 (450,000 )
Valuation in 2024 (50,000 )
250,000

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 585,498 585,498

The investment property was valued on an open market basis on 30 June 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 536,912 507,545

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 244
Taxation and social security 1,735 3,201
Other creditors 14,697 25,692
16,432 29,137

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 107,026 106,338

9. LOANS AND OTHER DEBTS DUE TO MEMBERS
2024 2023
£    £   
Loans from members 157,132 176,132

Falling due within one year 157,132 176,132

Loans and other debts due to members (other than members' capital classified as debt) would rank after other creditors in the event of a liquidation.

Chartered Certified Accountants' Report to the Members
on the Unaudited Financial Statements of
PCSP LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs 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 PCSP LLP for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Reconciliation of Members' Interests 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the members of PCSP LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of PCSP LLP and state those matters that we have agreed to state to the members of PCSP LLP, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that PCSP 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 loss of PCSP LLP. You consider that PCSP LLP is exempt from the statutory audit requirement for the year.

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






SSM Accountants Limited
23a Church Road
Parkstone
Poole
Dorset
BH14 8UF


3 February 2025