Brooklands Cleves LLP
Annual Report and Unaudited Financial Statements
For filing with the Registrar
For the year ended 31 March 2024
Limited Liability Partnership Registration No. OC359270 (England and Wales)
Brooklands Cleves LLP
Limited Liability Partnership Information
Designated members
P Morris
A Rowe
R Tunna
Limited liability partnership number
OC359270
Registered office
6th Floor
9 Appold Street
London
EC2A 2AP
Accountants
Moore Kingston Smith LLP
6th Floor
9 Appold Street
London
EC2A 2AP
Brooklands Cleves LLP
Contents
Page
Balance sheet
1 - 2
Brooklands Cleves LLP
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
2
231,111
231,111
Current assets
Cash and cash equivalents
9,844
12,986
Creditors: amounts falling due within one year
3
(100,200)
(100,200)
Net current liabilities
(90,356)
(87,214)
Total assets less current liabilities
140,755
143,897
Represented by:
Loans and other debts due to members within one year
Amounts due in respect of profits
(3,142)
(22,702)
Other amounts
80,733
103,435
77,591
80,733
Members' other interests
Revaluation reserve
63,164
63,164
140,755
143,897
Total members' interests
Loans and other debts due to members
77,591
80,733
Members' other interests
63,164
63,164
140,755
143,897
Brooklands Cleves LLP
Balance Sheet (Continued)
As at 31 March 2024
Page 2

The members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 31 March 2024 the limited liability partnership 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) relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to limited liability partnerships) with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 27 February 2025 and are signed on their behalf by:
27 February 2025
R Tunna
Designated member
Limited Liability Partnership Registration No. OC359270
Brooklands Cleves LLP
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Limited liability partnership information

Brooklands Cleves LLP is a limited liability partnership incorporated in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" issued in December 2021, together with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the limited liability partnership. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the amounts receivable for rent, net of VAT and trade discounts.

Once an unavoidable obligation has been created in favour of members through allocation of profits or other means, any undrawn profits remaining at the reporting date are shown as ‘Loans and other debts due to members’ to the extent they exceed debts due from a specific member.

Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. Amounts payable to members under employment contracts and unavoidable interest on members capital are charged to “members remuneration charged as an expense” in the relevant year.

1.3
Investment properties

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

 

Although this accounting policy is in accordance with the Financial Reporting standard for Smaller Entities (effective April 2008), it is a departure form the general requirement of the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008) for all tangible assets to be depreciated. In the opinion of the members compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have ben charged cannot be separately identified or quantified.

 

Brooklands Cleves LLP
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 4
2
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
231,111

The investment property was valued on open market basis on 31 March 2022 by the members. If investment properties were stated on a historical cost basis rather than a fair value basis, the value would be stated at the purchase price of £193,785.

3
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
100,200
100,200
4
Loans and other debts due to members

In the event of a winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.

5
Revaluation reserve
2024
2023
£
£
At beginning of year
63,164
72,881
Other movements
-
(9,717)
At end of year
63,164
63,164
6
Related party transactions

During the year Brooklands Cleves LLP charged Axiom Architects LLP, a limited Liability partnership in which P Morris is also a designated member, £23,111 (2023 - £26,668) for rent during the period.

 

At the balance sheet date, Brooklands Cleves LLP owed Axiom Architects LLP £100,200 (2022 - £100,200). Additionally, Axiom Architects LLP provided a cross-guarantee for all monies due, or to become due from Brooklands Cleves LLP to HSBC during the year. All transactions were at arms length and in the normal course of business.

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