Asia UK Property Fund LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC351996 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ASIA UK PROPERTY FUND LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DESIGNATED MEMBERS:

I R Liddell

Uniserve Holdings Limited

REGISTERED OFFICE:

Upminster Court

133 Hall Lane

Upminster

Essex

RM14 1AL

REGISTERED NUMBER:

OC351996 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

FIXED ASSETS

Investment property

4

5,754,746

CURRENT ASSETS

Debtors

5

5,303,101

4,815,534

Cash at bank

122,650

121,421

5,425,751

4,936,955

CREDITORS

Amounts falling due within one year

6

8,153

211,611

NET CURRENT ASSETS

5,417,598

4,725,344

TOTAL ASSETS LESS CURRENT LIABILITIES

and

NET ASSETS ATTRIBUTABLE TO
MEMBERS

11,172,344

10,480,090

LOANS AND OTHER DEBTS DUE TO
MEMBERS

7

10,782,150

10,089,896

MEMBERS' OTHER INTERESTS

Capital accounts

100

Revaluation reserve

8

390,094

11,172,344

10,480,090

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

7

10,782,150

10,089,896

Members' other interests

390,194

11,172,344

10,480,090

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 June 2024.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 24 March 2025 and were signed by:

I R Liddell - Designated member

1.	STATUTORY INFORMATION

Asia Uk Property Fund LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Revenue

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is from rental income is recognised in the period to which the rental period relates.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2023 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2023

and 30 June 2024

5,754,746

NET BOOK VALUE

At 30 June 2024

5,754,746

At 30 June 2023

5,754,746

The property is stated at fair value as assessed by the designated members at the balance sheet date.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by group undertakings

5,303,101

4,815,534

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed to group undertakings

4

Taxation and social security

-

34,826

Other creditors

8,149

176,781

8,153

211,611

7.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

8.

RESERVES

Revaluation

reserve

£

At 1 July 2023

and 30 June 2024

390,094

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs 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 Asia Uk Property Fund LLP for the year ended 30 June 2024 which comprise the Income Statement, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the members of Asia Uk Property Fund LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Asia Uk Property Fund LLP and state those matters that we have agreed to state to the members of Asia Uk Property Fund LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Asia Uk Property Fund LLP and its members, as a body, for our work or for this report.

It is your duty to ensure that Asia Uk Property Fund 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 profit of Asia Uk Property Fund LLP. You consider that Asia Uk Property Fund LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Asia Uk Property Fund 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.

THP Limited

Chartered Accountants

34-40 High Street

Wanstead

London

E11 2RJ

24 March 2025