Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-302truefalse2023-07-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseProperty rental2false OC399689 2023-07-01 2024-06-30 OC399689 2022-07-01 2023-06-30 OC399689 2024-06-30 OC399689 2023-06-30 OC399689 c:CurrentFinancialInstruments 2024-06-30 OC399689 c:CurrentFinancialInstruments 2023-06-30 OC399689 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 OC399689 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 OC399689 d:FRS102 2023-07-01 2024-06-30 OC399689 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 OC399689 d:FullAccounts 2023-07-01 2024-06-30 OC399689 d:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 OC399689 d:PartnerLLP1 2023-07-01 2024-06-30 OC399689 d:PartnerLLP2 2023-07-01 2024-06-30 OC399689 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-06-30 OC399689 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-06-30 OC399689 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: OC399689









MILESTONES PROPERTY LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
MILESTONES PROPERTY LLP
REGISTERED NUMBER: OC399689

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Fixed Asset Investments
 4 
1,000,000
1,000,000

  
1,000,000
1,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
288
-

Cash at bank and in hand
  
17,503
3,548

  
17,791
3,548

Creditors: amounts falling due within one year
 6 
(7,829)
(1,440)

Net current assets
  
 
 
9,962
 
 
2,108

Total assets less current liabilities
  
1,009,962
1,002,108

  

  

  

Net assets
  
1,009,962
1,002,108


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 7 
9,862
2,008

Members' other interests
  

Members' capital classed as equity
  
1,000,100
1,000,100

  
1,009,962
1,002,108


Total members' interests
  

Loans and other debts due to members
 7 
9,862
2,008

Members' other interests
  
1,000,100
1,000,100

  
1,009,962
1,002,108


Page 1

 
MILESTONES PROPERTY LLP
REGISTERED NUMBER: OC399689
    
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 on 25 March 2025.



Dr J W Brennan
Mrs J Michalski
Designated member
Designated member

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
MILESTONES PROPERTY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Milestone Property LLP is a Limited Liability Partnership incorporated in England and Wales. The address of the registered office is Milestones, Royal Parade, Chislehurst, Kent, BR7 6NW. The principal activity of the LLP is commercial property investment and letting.

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

Division and distribution of profits

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense' in the statement of comprehensive income.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the members 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 the statement of comprehensive income.

  
2.4

Turnover

Turnover comprises revenue recognised by the LLP in respect of rents due during the year.

 
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 3

 
MILESTONES PROPERTY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 July 2023
1,000,000



At 30 June 2024
1,000,000





5.


Debtors

2024
2023
£
£


Prepayments and accrued income
288
-

288
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Accruals and deferred income
7,829
1,440

7,829
1,440


Page 4

 
MILESTONES PROPERTY LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Loans and other debts due (from)/to members


2024
2023
£
£



Other amounts due to members
9,862
2,008

9,862
2,008



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

 
Page 5