0 false false false false false false false false false false false false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP OC435869 2023-04-01 2024-03-31 OC435869 2024-03-31 OC435869 2023-03-31 OC435869 2022-04-01 2023-03-31 OC435869 2023-03-31 OC435869 2022-03-31 OC435869 bus:Director4 2023-04-01 2024-03-31 OC435869 core:WithinOneYear 2024-03-31 OC435869 core:WithinOneYear 2023-03-31 OC435869 core:AfterOneYear 2024-03-31 OC435869 core:AfterOneYear 2023-03-31 OC435869 bus:SmallEntities 2023-04-01 2024-03-31 OC435869 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC435869 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 OC435869 bus:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC435869 bus:FullAccounts 2023-04-01 2024-03-31
REGISTERED NUMBER: OC435869
CAYUGA 013 LLP
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
CAYUGA 013 LLP
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Current assets
Stocks
5,160,599
4,901,497
Debtors
4
3,605,191
56,198
Cash at bank and in hand
11,006
1,867
-------------
-------------
8,776,796
4,959,562
Creditors: amounts falling due within one year
5
763,453
797,933
-------------
-------------
Net current assets
8,013,343
4,161,629
-------------
-------------
Total assets less current liabilities
8,013,343
4,161,629
Creditors: amounts falling due after more than one year
6
8,013,343
4,161,628
-------------
-------------
Net assets
1
-------------
-------------
Represented by:
Loans and other debts due to members
Other amounts
7
1
----
----
Members' other interests
Other reserves
----
----
1
----
----
Total members' interests
Amounts due from members
(624,091)
(14,107)
Loans and other debts due to members
7
1
Members' other interests
----------
---------
(624,091)
(14,106)
----------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006 (as applied to LLPs), the statement of comprehensive income has not been delivered.
CAYUGA 013 LLP
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
For the year ending 31 March 2024 the LLP 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) relating to small LLPs.
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the members and authorised for issue on 27 March 2025 , and are signed on their behalf by:
GPSEC LLP
Designated Member
Registered number: OC435869
CAYUGA 013 LLP
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1.
General information
The LLP is registered in England and Wales. The address of the registered office is Cayuga House, 2a Addison Road, Hove, BN3 1TN.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2018 (SORP 2018).
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits).
Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 22 of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liability Partnerships'. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP.
Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities.
Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the statement of comprehensive income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the statement of financial position.
Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the statement of comprehensive income and are equity appropriations in the statement of financial position.
Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment.
All amounts due to members that are classified as liabilities are presented in the statement of financial position within 'Loans and other debts due to members' and are charged to the statement of comprehensive income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the statement of financial position within 'Members' other interests'.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the LLP becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the LLP has a participating interest
1,047,760
Other debtors
2,557,431
56,198
-------------
---------
3,605,191
56,198
-------------
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the LLP has a participating interest
50
70,711
Social security and other taxes
55,803
25,722
Other creditors
707,600
701,500
----------
----------
763,453
797,933
----------
----------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,013,343
4,161,628
-------------
-------------
The bank loan outstanding at the year end is secured by a first legal charge over the development and a first, fixed and floating charge over the assets of the company.
7.
Loans and other debts due to members
2024
2023
£
£
Amounts owed to members in respect of profits
1
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----