Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-07-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC372282 2023-07-01 2024-03-31 OC372282 2022-07-01 2023-06-30 OC372282 2024-03-31 OC372282 2023-06-30 OC372282 c:Buildings c:LongLeaseholdAssets 2023-07-01 2024-03-31 OC372282 c:Buildings c:LongLeaseholdAssets 2024-03-31 OC372282 c:Buildings c:LongLeaseholdAssets 2023-06-30 OC372282 c:FurnitureFittings 2023-07-01 2024-03-31 OC372282 c:FurnitureFittings 2024-03-31 OC372282 c:FurnitureFittings 2023-06-30 OC372282 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 OC372282 c:OwnedOrFreeholdAssets 2023-07-01 2024-03-31 OC372282 c:CurrentFinancialInstruments 2024-03-31 OC372282 c:CurrentFinancialInstruments 2023-06-30 OC372282 c:Non-currentFinancialInstruments 2024-03-31 OC372282 c:Non-currentFinancialInstruments 2023-06-30 OC372282 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC372282 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 OC372282 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 OC372282 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 OC372282 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 OC372282 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-06-30 OC372282 d:FRS102 2023-07-01 2024-03-31 OC372282 d:AuditExempt-NoAccountantsReport 2023-07-01 2024-03-31 OC372282 d:FullAccounts 2023-07-01 2024-03-31 OC372282 d:LimitedLiabilityPartnershipLLP 2023-07-01 2024-03-31 OC372282 c:WithinOneYear 2024-03-31 OC372282 c:WithinOneYear 2023-06-30 OC372282 c:BetweenOneFiveYears 2024-03-31 OC372282 c:BetweenOneFiveYears 2023-06-30 OC372282 d:PartnerLLP1 2023-07-01 2024-03-31 OC372282 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-03-31 OC372282 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-06-30 OC372282 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC372282 c:FurtherSpecificReserve2ComponentTotalEquity 2023-06-30 OC372282 c:FurtherSpecificReserve3ComponentTotalEquity 2024-03-31 OC372282 c:FurtherSpecificReserve3ComponentTotalEquity 2023-06-30 OC372282 e:PoundSterling 2023-07-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: OC372282










ONE MAYFAIR APARTMENTS LLP








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
ONE MAYFAIR APARTMENTS LLP
REGISTERED NUMBER: OC372282

BALANCE SHEET
AS AT 31 MARCH 2024

31 March
30 June
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
7,383
9,785

  
7,383
9,785

Current assets
  

Debtors: amounts falling due within one year
 5 
130,053
197,205

Cash at bank and in hand
 6 
150,437
18,063

  
280,490
215,268

Creditors: Amounts Falling Due Within One Year
 7 
(634,930)
(523,226)

Net current liabilities
  
 
 
(354,440)
 
 
(307,958)

Total assets less current liabilities
  
(347,057)
(298,173)

Creditors: amounts falling due after more than one year
 8 
(12,236)
(19,913)

  
(359,293)
(318,086)

  

Net liabilities
  
(359,293)
(318,086)


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 10 
116,536
116,536

  
116,536
116,536

Members' other interests
  

Members' capital classified as equity
  
40,000
40,000

Other reserves classified as equity
  
(515,829)
(474,622)

  
 
(475,829)
 
(434,622)

  
(359,293)
(318,086)


Total members' interests
  

Loans and other debts due to members
 10 
116,536
116,536

Members' other interests
  
(475,829)
(434,622)

  
(359,293)
(318,086)

Page 1

 
ONE MAYFAIR APARTMENTS LLP
REGISTERED NUMBER: OC372282
    
BALANCE SHEET (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: 




................................................
G C Hammer
Designated member

Date: 4 April 2025

The notes on pages 3 to 9 form part of these financial statements.

One Mayfair Apartments 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

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

One Mayfair Apartments LLP is a limited liability partnership registered in England and Wales. Its registered address is 2 Omega Place, London, N1 9DR and its registered number is OC372282.

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 period in which they are incurred.

Page 3

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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 .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, over the term of the lease and straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the term of the lease
Fixtures and fittings
-
4 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Page 4

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

Financial instruments

The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The LLP's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the LLP after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

 
Page 5

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2023 - 1).


4.


Tangible fixed assets







Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
2,003
109,945
111,948


Additions
-
595
595



At 31 March 2024

2,003
110,540
112,543



Depreciation


At 1 July 2023
1,474
100,688
102,162


Charge for the period on owned assets
-
2,897
2,897


Impairment charge
101
-
101



At 31 March 2024

1,575
103,585
105,160



Net book value



At 31 March 2024
428
6,955
7,383



At 30 June 2023
529
9,256
9,785

Page 6

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

5.


Debtors

31 March
30 June
2024
2023
£
£


Trade debtors
49,909
81,445

Other debtors
35,495
10,669

Prepayments and accrued income
44,649
105,091

130,053
197,205



6.


Cash and cash equivalents

31 March
30 June
2024
2023
£
£

Cash at bank and in hand
150,437
18,063

150,437
18,063



7.


Creditors: Amounts falling due within one year

31 March
30 June
2024
2023
£
£

Bank loans
10,204
10,012

Trade creditors
71,985
113,302

Other taxation and social security
23,554
-

Other creditors
272,409
155,539

Accruals and deferred income
256,778
244,373

634,930
523,226


Page 7

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

31 March
30 June
2024
2023
£
£

Bank loans
12,236
19,913

12,236
19,913



9.


Loans


Analysis of the maturity of loans is given below:


31 March
30 June
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,204
10,012


10,204
10,012

Amounts falling due 1-2 years

Bank loans
12,236
19,913


12,236
19,913



22,440
29,925


Page 8

 
ONE MAYFAIR APARTMENTS LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

10.


Loans and other debts due to members


31 March
30 June
2024
2023
£
£



Other amounts due to members
(116,536)
(116,536)

(116,536)
(116,536)

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

31 March
30 June
2024
2023
£
£



Falling due within one year
(116,536)
(116,536)

(116,536)
(116,536)

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


11.


Commitments under operating leases

At 31 March 2024 the LLP had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

31 March
30 June
2024
2023
£
£


Not later than 1 year
96,166
96,166

Later than 1 year and not later than 5 years
192,232
288,498

288,398
384,664

 
Page 9