Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-09-01falseNo description of principal activity22truefalse OC352632 2023-09-01 2024-03-31 OC352632 2022-09-01 2023-08-31 OC352632 2024-03-31 OC352632 2023-08-31 OC352632 c:LeaseholdInvestmentProperty 2024-03-31 OC352632 c:LeaseholdInvestmentProperty 2023-08-31 OC352632 c:CurrentFinancialInstruments 2024-03-31 OC352632 c:CurrentFinancialInstruments 2023-08-31 OC352632 c:Non-currentFinancialInstruments 2024-03-31 OC352632 c:Non-currentFinancialInstruments 2023-08-31 OC352632 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC352632 c:CurrentFinancialInstruments c:WithinOneYear 2023-08-31 OC352632 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC352632 c:Non-currentFinancialInstruments c:AfterOneYear 2023-08-31 OC352632 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC352632 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-08-31 OC352632 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC352632 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-08-31 OC352632 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-03-31 OC352632 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-08-31 OC352632 d:FRS102 2023-09-01 2024-03-31 OC352632 d:AuditExempt-NoAccountantsReport 2023-09-01 2024-03-31 OC352632 d:FullAccounts 2023-09-01 2024-03-31 OC352632 d:LimitedLiabilityPartnershipLLP 2023-09-01 2024-03-31 OC352632 d:PartnerLLP1 2023-09-01 2024-03-31 OC352632 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC352632 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-08-31 OC352632 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC352632 c:FurtherSpecificReserve1ComponentTotalEquity 2023-08-31 OC352632 e:PoundSterling 2023-09-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC352632









PEAK HOUSE INVESTMENTS LLP







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024

 
PEAK HOUSE INVESTMENTS LLP
REGISTERED NUMBER: OC352632

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
31 August
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,615,000
1,615,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,500
1,500

Cash at bank and in hand
  
11,931
12,316

  
13,431
13,816

Creditors: Amounts Falling Due Within One Year
 6 
(59,185)
(54,081)

Net current liabilities
  
 
 
(45,754)
 
 
(40,265)

Total assets less current liabilities
  
1,569,246
1,574,735

Creditors: amounts falling due after more than one year
 7 
(81,910)
(91,813)

Net assets
  
1,487,336
1,482,922


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
  
54,136
49,722

Members' other interests
  

Members' capital classified as equity
  
86,280
86,280

Revaluation reserve classified as equity
  
1,346,920
1,346,920

  
 
1,433,200
 
1,433,200

  
1,487,336
1,482,922


Total members' interests
  

Loans and other debts due to members
  
54,136
49,722

Members' other interests
  
1,433,200
1,433,200

  
1,487,336
1,482,922


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.
 
Page 1

 
PEAK HOUSE INVESTMENTS LLP
REGISTERED NUMBER: OC352632
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


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 on 24 March 2025.




F J Nuttall
Designated member

The notes on pages 3 to 6 form part of these financial statements.

Peak House Investments 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 2

 
PEAK HOUSE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Peak House Investments LLP ("the LLP") is a limited liability partnership, incorporated in England and Wales. Its registered office is Leytonstone House, Leytonstone, London, E11 1GA.
The principal activity of the entity continued to be that of property rental.

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

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:

Rental income
Rental income from operating leases is recognised on a straight line basis over the term of the lease, where substantially all the benefits and risks of ownership remain with the lessor.

 
2.3

Investment property

Investment property is carried at fair value determined annually by members and external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.5

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.
 
2.6

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 3

 
PEAK HOUSE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

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 automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Operating leases: the LLP as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.10

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.


3.


Employees

The average monthly number of employees, including members, during the period was 2 (31 August 2023 - 2).

Page 4

 
PEAK HOUSE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investment property





Long term leasehold investment property

£



Valuation


At 1 September 2023
1,615,000



At 31 March 2024
1,615,000

The 2024 valuations were made by Brown & Lee Property Consultants, on an open market value for existing use basis.





5.


Debtors

31 March
31 August
2024
2023
£
£


Other debtors
1,500
1,500



6.


Creditors: Amounts falling due within one year

31 March
31 August
2024
2023
£
£

Bank loans
19,762
19,341

Trade creditors
24,423
4,740

Other creditors
13,000
13,000

Accruals and deferred income
2,000
17,000

59,185
54,081


Page 5

 
PEAK HOUSE INVESTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

31 March
31 August
2024
2023
£
£

Bank loans
81,910
91,813


Secured loans
A bank loan of £77,250 (31 August 2023 - £81,603) is secured as follows: 
First legal charge over the leasehold property and;
Guarantee given by the designated members of up to £25,000. 
Interest on this loan is charged at 4.15% per annum above the bank's sterling base rate as published from time to time by the bank and the loan is repayable over 20 years, the final instalment being due in April 2030.


8.


Loans


Analysis of the maturity of loans is given below:


31 March
31 August
2024
2023
£
£

Amounts falling due within one year

Bank loans
19,762
19,341

Amounts falling due 1-2 years

Bank loans
20,506
20,068

Amounts falling due 2-5 years

Bank loans
43,544
47,931

Amounts falling due after more than 5 years

Bank loans
17,860
23,814

101,672
111,154


 
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