REGISTERED NUMBER: |
Financial Statements |
for the Period 1 January 2023 to 30 December 2023 |
for |
Clinitek Prop LLP |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
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 |
1,792,945 | 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 were approved by the members of the LLP and authorised for issue on |
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 |
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 |
NET BOOK VALUE |
At 30 December 2023 |
At 31 December 2022 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Accrued expenses |
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. |
for and on behalf of |
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. |