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REGISTERED NUMBER: OC428879 (England and Wales)



















Financial Statements

for the Period 1 January 2023 to 30 December 2023

for

Clinitek Prop LLP

Clinitek Prop LLP (Registered number: OC428879)






Contents of the Financial Statements
for the Period 1 January 2023 to 30 December 2023




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Clinitek Prop LLP

General Information
for the Period 1 January 2023 to 30 December 2023







DESIGNATED MEMBERS: Thermeco SWIP 12 Limited





REGISTERED OFFICE: Gateway House
Styal Road
Manchester
M22 5WY





REGISTERED NUMBER: OC428879 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Clinitek Prop LLP (Registered number: OC428879)

Balance Sheet
30 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,826,000 1,826,000

CREDITORS
Amounts falling due within one year 5 33,055 19,246
NET CURRENT LIABILITIES (33,055 ) (19,246 )
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

1,792,945

1,806,754

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

125,465

139,274

MEMBERS' OTHER INTERESTS
Capital accounts 1 1
Other reserves 1,667,479 1,667,479
1,792,945 1,806,754

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 125,465 139,274
Members' other interests 1,667,480 1,667,480
1,792,945 1,806,754

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 5 March 2025 and were signed by:





Thermeco SWIP 12 Limited - Designated member

Clinitek Prop LLP (Registered number: OC428879)

Notes to the Financial Statements
for the Period 1 January 2023 to 30 December 2023

1. STATUTORY INFORMATION

Clinitek Prop 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.

Going concern
As at the date of signing, Clinitek (Malvern) LLP (the tenant) does not have a functional plant which is capable of generating revenue and rental charges between the LLP and the tenant had ceased in October 2022 by mutual agreement by joint management. These conditions significantly impact the LLP and as such indicate that a material uncertainty exists that may cast doubt on the LLP's ability to operate as a going concern.

The designated member and its parent entities have pledged to support the LLP's working capital requirements for a period of 12 months from the signing and approval of the accounts. Accordingly, the going concern basis has been adopted in the financial statements.

Turnover
Turnover represents rental income, net sales of services provided during the year and share of partnership profits for the period, excluding value added tax where applicable.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it ot be capable of operating in the manner intended by management.

No depreciation has been provided on the freehold as the asset related to land (non depreciable) at the balance sheet date.

At each reporting date the LLP assess whether there is any indication of impairment. If such indication exists, the recoverable amount fo the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The assets' residual value, 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.

3. EMPLOYEE INFORMATION

The average number of employees, including members with contracts of employment, during the period was NIL (2022 - NIL).

Clinitek Prop LLP (Registered number: OC428879)

Notes to the Financial Statements - continued
for the Period 1 January 2023 to 30 December 2023

4. TANGIBLE FIXED ASSETS
Freehold
land
£   
COST
At 1 January 2023
and 30 December 2023 1,826,000
NET BOOK VALUE
At 30 December 2023 1,826,000
At 31 December 2022 1,826,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,080 5,271
Amounts owed to group undertakings 3,000 -
Accrued expenses 18,975 13,975
33,055 19,246

6. LOANS AND OTHER DEBTS DUE TO MEMBERS
2023 2022
£    £   
Amounts owed to members in respect of profits 125,465 139,274

Falling due within one year 125,465 139,274

Equitix V Primary Infrastructure (Clinitek Prop) LP has provided a facility of £1,875,820 of which £1,826,000 was drawn down at the end of previous year.

The loan is interest free and repayable in 2044 and it is recognised at its present value of future payments discounted at a rate of 10.49%. The difference between the carrying amount and the present value of £1,667,479 is included within Members capital classified as equity (£1) and Members capital classified as a liability (£158,520).

The LLP shall distribute such profits as the Management Board determines in the following order of repayment of the Members of all Capital contributions pro rate to the relevant percentage, and any excess to the members in the relevant percentage.

In the event of winding up the amount included in "Loans and other debts due to members" will rank equally with unsecured creditors and each member shall be liable to contribute to the assets of the LLP the sum of £10 only.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sean Douglass FCA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

8. POST BALANCE SHEET EVENTS

As at 10 May 2024 the designated members signed a purchase agreement for the sale of 100% of the membership interests to Thermeco SWIP 11 Limited and Thermeco SWIP 12 Limited.