Caseware UK (AP4) 2024.0.164 2024.0.164 2023-07-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC431940 2023-07-01 2024-06-30 OC431940 2022-07-01 2023-06-30 OC431940 2024-06-30 OC431940 2023-06-30 OC431940 c:Buildings 2023-07-01 2024-06-30 OC431940 c:Buildings 2024-06-30 OC431940 c:Buildings 2023-06-30 OC431940 c:Buildings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC431940 c:PlantMachinery 2023-07-01 2024-06-30 OC431940 c:PlantMachinery 2024-06-30 OC431940 c:PlantMachinery 2023-06-30 OC431940 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC431940 c:MotorVehicles 2023-07-01 2024-06-30 OC431940 c:MotorVehicles 2024-06-30 OC431940 c:MotorVehicles 2023-06-30 OC431940 c:MotorVehicles c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC431940 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC431940 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 OC431940 c:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 OC431940 c:CurrentFinancialInstruments 2024-06-30 OC431940 c:CurrentFinancialInstruments 2023-06-30 OC431940 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 OC431940 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 OC431940 d:FRS102 2023-07-01 2024-06-30 OC431940 d:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 OC431940 d:FullAccounts 2023-07-01 2024-06-30 OC431940 d:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 OC431940 d:PartnerLLP2 2023-07-01 2024-06-30 OC431940 c:FurtherSpecificReserve3ComponentTotalEquity 2024-06-30 OC431940 c:FurtherSpecificReserve3ComponentTotalEquity 2023-06-30 OC431940 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: OC431940










Michael McArthur Properties LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024





 
Michael McArthur Properties LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of Michael McArthur Properties LLP for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied 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 Michael McArthur Properties LLP for the year ended 30 June 2024 which comprise  the Balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Michael McArthur Properties LLP and state those matters that we have agreed to state to the Michael McArthur Properties LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Michael McArthur Properties LLP and its members for our work or for this report. 

It is your duty to ensure that Michael McArthur Properties 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 Michael McArthur Properties LLP. You consider that Michael McArthur Properties LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Michael McArthur Properties 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
21 March 2025
Page 1

 
Michael McArthur Properties LLP
Registered number: OC431940

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 3 
7,952
7,952

Tangible assets
 4 
26,755
31,077

  
34,707
39,029

Current assets
  

Stocks
  
150,254
205,289

Debtors: amounts falling due within one year
 5 
35,777
135,724

Cash at bank and in hand
 6 
136,690
102,905

  
322,721
443,918

Creditors: amounts falling due within one year
 7 
(98,592)
(115,091)

Net current assets
  
 
 
224,129
 
 
328,827

Total assets less current liabilities
  
258,836
367,856

  

Net assets
  
258,836
367,856


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 8 
258,836
367,856

  
258,836
367,856

  

  
258,836
367,856


Total members' interests
  

Loans and other debts due to members
 8 
258,836
367,856

  
258,836
367,856


Page 2

 
Michael McArthur Properties LLP
Registered number: OC431940

Balance sheet (continued)
As at 30 June 2024

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 statement of comprehensive income 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: 




John Holman Properties Limited
Designated member

Date: 21 March 2025

The notes on pages 4 to 8 form part of these financial statements.

Michael McArthur Properties LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 3

 
Michael McArthur Properties LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Michael McArthur Properties LLP is a limited liability partnership incorporated in England & Wales.  The registered office is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU.  The principal activity is that of farming.

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.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the LLP has transferred the significant risks and rewards of ownership to the buyer;
the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
Michael McArthur Properties LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

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

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Land and buildings
-
10%
Plant and machinery
-
15%
Motor vehicles
-
25%

The assets' residual values, 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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 5

 
Michael McArthur Properties LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

3.


Basic payment scheme entitlement





£



Cost


At 1 July 2023
7,952



At 30 June 2024

7,952






Net book value



At 30 June 2024
7,952



At 30 June 2023
7,952






4.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 July 2023
71,576
57,183
32,995
161,754



At 30 June 2024

71,576
57,183
32,995
161,754



Depreciation


At 1 July 2023
59,810
40,780
30,087
130,677


Charge for the year on owned assets
1,170
2,430
722
4,322



At 30 June 2024

60,980
43,210
30,809
134,999



Net book value



At 30 June 2024
10,596
13,973
2,186
26,755



At 30 June 2023
11,766
16,403
2,908
31,077

Page 6

 
Michael McArthur Properties LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

5.


Debtors

2024
2023
£
£


Trade debtors
355
101,050

Other debtors
19,376
13,125

Prepayments and accrued income
16,046
21,549

35,777
135,724



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
136,690
102,905

136,690
102,905



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
19,120
50,323

Other creditors
68,845
45,162

Accruals and deferred income
10,627
19,606

98,592
115,091


Page 7

 
Michael McArthur Properties LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

8.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
258,836
367,856

258,836
367,856

Loans and other debts due to members may be further analysed as follows:

2024
2023
£
£



Falling due within one year
258,836
367,856

258,836
367,856

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

Page 8

 
Michael McArthur Properties LLP
 

Reconciliation of members' interests
For the year ended 30 June 2024




Equity
Members' other interests
Debt
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Other amounts
Total

£
£
£

Amounts due to members
367,856

Loss for the year available for discretionary division among members
 
(55,345)
-
(55,345)

Members' interests after profit for the year
(55,345)
367,856
312,511

Other division of losses
55,345
(55,345)
-

Amounts introduced by members
-
17,301
17,301

Drawings on account and distribution of profit
-
(70,976)
(70,976)

Amounts due to members
258,836

Balance at 30 June 2024 
-
258,836
258,836

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 9