Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC411944 2023-04-01 2024-03-31 OC411944 2022-04-01 2023-03-31 OC411944 2024-03-31 OC411944 2023-03-31 OC411944 c:FreeholdInvestmentProperty 2024-03-31 OC411944 c:FreeholdInvestmentProperty 2023-03-31 OC411944 c:CurrentFinancialInstruments 2024-03-31 OC411944 c:CurrentFinancialInstruments 2023-03-31 OC411944 c:Non-currentFinancialInstruments 2024-03-31 OC411944 c:Non-currentFinancialInstruments 2023-03-31 OC411944 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC411944 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 OC411944 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC411944 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 OC411944 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-03-31 OC411944 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 OC411944 d:FRS102 2023-04-01 2024-03-31 OC411944 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 OC411944 d:FullAccounts 2023-04-01 2024-03-31 OC411944 d:LimitedLiabilityPartnershipLLP 2023-04-01 2024-03-31 OC411944 d:PartnerLLP1 2023-04-01 2024-03-31 OC411944 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC411944 c:FurtherSpecificReserve3ComponentTotalEquity 2023-03-31 OC411944 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC411944









BEACH PROPERTIES LONDON LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
BEACH PROPERTIES LONDON LLP
REGISTERED NUMBER: OC411944

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
428,416
428,416

  
428,416
428,416

Current assets
  

Debtors: amounts falling due within one year
 5 
202,733
212,734

Cash at bank and in hand
 6 
9,771
118,010

  
212,504
330,744

Creditors: Amounts Falling Due Within One Year
 7 
(109,460)
(109,460)

Net current assets
  
 
 
103,044
 
 
221,284

Total assets less current liabilities
  
531,460
649,700

Creditors: amounts falling due after more than one year
 8 
(370,513)
(370,038)

  
160,947
279,662

  

Net assets
  
160,947
279,662


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
160,947
279,662

  
160,947
279,662

  

  
160,947
279,662


Total members' interests
  

Loans and other debts due to members
 10 
160,947
279,662

  
160,947
279,662


Page 1

 
BEACH PROPERTIES LONDON LLP
REGISTERED NUMBER: OC411944
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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: 




M Lerner
Designated member

Date: 17 January 2025

The notes on pages 3 to 7 form part of these financial statements.

Beach Properties London 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

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Beach Properties London LLP is a limited liability partnership incorporated in England. The Registered Office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the LLP.

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:

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

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.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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 .

 
2.6

Investment property

Investment property is carried at fair value determined annually by 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.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Employees

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

Page 4

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
428,416



At 31 March 2024
428,416

The 2024 valuations were made by the Members, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
428,416
428,416

428,416
428,416


5.


Debtors

2024
2023
£
£


Other debtors
202,734
212,734

202,734
212,734



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,771
118,010

9,771
118,010


Page 5

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
105,710
105,710

Accruals and deferred income
3,750
3,750

109,460
109,460



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
370,513
370,038

370,513
370,038



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Other loans
370,513
370,038


370,513
370,038


370,513
370,038


Page 6

 
BEACH PROPERTIES LONDON LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans and other debts due to members


2024
2023
£
£



Other amounts due to members
160,947
279,662

160,947
279,662

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

2024
2023
£
£



Falling due within one year
160,947
279,662

160,947
279,662

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


11.


Related party transactions

Included within creditors is £105,000 (2023: £105,000) due to companies in which the director has an interest.

 
Page 7