Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-31Investment holdingtrue2023-01-01false22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NC000693 2023-01-01 2023-12-31 NC000693 2022-01-01 2022-12-31 NC000693 2023-12-31 NC000693 2022-12-31 NC000693 c:CurrentFinancialInstruments 2023-12-31 NC000693 c:CurrentFinancialInstruments 2022-12-31 NC000693 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 NC000693 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 NC000693 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 NC000693 c:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 NC000693 d:FRS102 2023-01-01 2023-12-31 NC000693 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NC000693 d:FullAccounts 2023-01-01 2023-12-31 NC000693 d:LimitedLiabilityPartnershipLLP 2023-01-01 2023-12-31 NC000693 6 2023-01-01 2023-12-31 NC000693 d:PartnerLLP1 2023-01-01 2023-12-31 NC000693 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-12-31 NC000693 c:OtherCapitalInstrumentsClassifiedAsEquity 2022-12-31 NC000693 c:FurtherSpecificReserve2ComponentTotalEquity 2023-12-31 NC000693 c:FurtherSpecificReserve2ComponentTotalEquity 2022-12-31 NC000693 c:FurtherSpecificReserve3ComponentTotalEquity 2023-12-31 NC000693 c:FurtherSpecificReserve3ComponentTotalEquity 2022-12-31 NC000693 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: NC000693









LOUGH SHORE INVESTMENTS LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
LOUGH SHORE INVESTMENTS LLP
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Reconciliation of Members' Interests
 
3
Notes to the Financial Statements
 
4 - 7


 
LOUGH SHORE INVESTMENTS LLP
REGISTERED NUMBER: NC000693

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
2,261,354
2,151,217

  
2,261,354
2,151,217

Current assets
  

Debtors: amounts falling due within one year
 5 
1,018,377
649,377

Cash at bank and in hand
 6 
720,136
619,964

  
1,738,513
1,269,341

Creditors: Amounts Falling Due Within One Year
 7 
(9,300)
(15,642)

Net current assets
  
 
 
1,729,213
 
 
1,253,699

Total assets less current liabilities
  
3,990,567
3,404,916

  

Net assets
  
3,990,567
3,404,916


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 9 
1,431,106
1,431,106

  
1,431,106
1,431,106

Members' other interests
  

Members' capital classified as equity
  
125,000
125,000

Other reserves classified as equity
  
2,434,461
1,848,810

  
 
2,559,461
 
1,973,810

  
3,990,567
3,404,916


Total members' interests
  

Loans and other debts due to members
 9 
1,431,106
1,431,106

Members' other interests
  
2,559,461
1,973,810

  
3,990,567
3,404,916


Page 1

 
LOUGH SHORE INVESTMENTS LLP
REGISTERED NUMBER: NC000693
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 477 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.

The financial statements were approved and authorised for issue by the members and were signed on their behalf by: 




D Moore
Designated member

Date: 4 March 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
LOUGH SHORE INVESTMENTS LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 DECEMBER 2023







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£
£

Amounts due to members 
1,431,106
1,431,106


Balance at 1 January 2022 
125,000
1,379,349
1,504,349
1,431,106
1,431,106
2,935,455

Profit for the year available for discretionary division among members
 
-
469,461
469,461
-
-
469,461

Members' interests after profit for the year
125,000
1,848,810
1,973,810
1,431,106
1,431,106
3,404,916

Amounts due to members
1,431,106
1,431,106

Balance at 31 December 2022
125,000
1,848,810
1,973,810
1,431,106
1,431,106
3,404,916

Profit for the year available for discretionary division among members
 
-
585,651
585,651
-
-
585,651

Members' interests after profit for the year
125,000
2,434,461
2,559,461
1,431,106
1,431,106
3,990,567

Amounts due to members
1,431,106
1,431,106

Balance at 31 December 2023 
125,000
2,434,461
2,559,461
1,431,106
1,431,106
3,990,567

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 
LOUGH SHORE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Lough Shore Investments LLP is a limited liability partnership, incorporated in Northern Ireland with registration number NC000693.  The registered office is 47 A Botanic Avenue, Belfast, BT7 1JL.

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.

The following principal accounting policies have been applied:

  
2.2

Exemption from preparing consolidated financial statements

The LLP, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis which assumes that the LLP will continue in operation existence for the foreseeable future. 

 
2.4

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 discretionarily. Discretionary divisions of profits are recognised as amounts due to members, although may be used to offset amounts which have been drawn by members, which are recognised as loan assets repayable.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
LOUGH SHORE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

 
2.9

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.


3.


Employees




The average monthly number of employees, including members, during the year was 2 (2022 - 2).

Page 5

 
LOUGH SHORE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Loans to associates
Investments in associates
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
1,873,077
243,140
10,000
25,000
2,151,217


Additions
145,137
-
-
-
145,137


Amounts written off
-
-
(10,000)
(25,000)
(35,000)



At 31 December 2023
2,018,214
243,140
-
-
2,261,354





5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
1,003,285
634,285

Prepayments and accrued income
15,092
15,092

1,018,377
649,377



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
720,136
619,964



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
2,586

Other creditors
-
8,418

Accruals and deferred income
9,300
4,638

9,300
15,642


Page 6

 
LOUGH SHORE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
720,136
619,964




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


9.


Loans and other debts due to members


2023
2022
£
£



Other amounts due to members
1,431,106
1,431,106



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


10.


Related party transactions

As at the year end the following amounts were due from companies controlled by the ultimate controlling party and were included within Note 5. An amount of  £350,285 (2022: £181,285) was due from Lough Shore Limited and £653,000 (2022: £453,000) was due from Lough Shore Technologies Limited, these amounts are unsecured, interest free and repayable on demand. 
During the year the LLP accrued £145,137 (2022: £131,941) of dividend income from a subsidiary company. The right of payment of this accrued dividend income receivable was waived and converted to 145,137 (2022: 131,941) £1 Clearlift Material Handling Limited preference shares. At the year end the LLP held 1,596,506 (2022: 1,451,369) of Clearlift Material Handling Limited's £1 preference shares.
At the year end £15,092 (2022: £15,092) interest receivable was also accrued for within prepayments and accrued income within Note 5 which was due from Clearlift Material Handling Limited.
The ultimate controlling party is designated member D Moore.

 
Page 7