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Company No: OC403877 (England and Wales)

COL TESTER LLP

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

COL TESTER LLP

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

COL TESTER LLP

BALANCE SHEET

As at 31 January 2024
COL TESTER LLP

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 13,931,578 15,684,228
13,931,578 15,684,228
Current assets
Cash at bank and in hand 32,196 10,083
32,196 10,083
Creditors: amounts falling due within one year 4 ( 202,379) ( 196,004)
Net current liabilities (170,183) (185,921)
Total assets less current liabilities 13,761,395 15,498,307
Creditors: amounts falling due after more than one year 5 ( 4,426,145) ( 5,530,001)
Net assets attributable to members 9,335,250 9,968,306
Represented by
Loans and other debts due to members after more than one year
Members' capital classified as a liability 9,341,412 9,968,306
9,341,412 9,968,306
Members' other interests
Other reserves (6,162) 0
(6,162) 0
9,335,250 9,968,306
Total members' interests
Loans and other debts due to members 9,341,412 9,968,306
Members' other interests (6,162) 0
9,335,250 9,968,306

For the financial year ending 31 January 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.

Members' responsibilities:

The financial statements of COL Tester LLP (registered number: OC403877) were approved and authorised for issue by the Board of Directors on 23 May 2025. They were signed on its behalf by:

T Fleming
Designated member
COL TESTER LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
COL TESTER LLP

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

COL Tester LLP (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, United KingdomE1W 9US.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

Turnover

Turnover represents the amounts receivable in respect of rental income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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. A member’s participation rights including amounts subscribed or otherwise contributed by members, for example members’ capital, are classed as liabilities unless the LLP has an unconditional right to refuse payment to members, in which case they are classified as equity.

The profits are not automatically divided as they arise, the LLP therefore has an unconditional right to refuse payment of the profits for a particular year unless and until those profits are divided by a decision taken by the members; and accordingly, following such a division, those profits are classed as an appropriation or equity rather than an expense.
They are therefore shown as a residual amount available for appropriation in the Profit and Loss Account.

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 Profit and Loss Account 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'.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the LLP during the year 0 0

3. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 February 2023 15,650,000 72,790 3,039 15,725,829
Additions 0 51,650 18,282 69,932
Disposals ( 1,800,000) 0 0 ( 1,800,000)
At 31 January 2024 13,850,000 124,440 21,321 13,995,761
Accumulated depreciation
At 01 February 2023 0 40,151 1,450 41,601
Charge for the financial year 0 17,786 4,796 22,582
At 31 January 2024 0 57,937 6,246 64,183
Net book value
At 31 January 2024 13,850,000 66,503 15,075 13,931,578
At 31 January 2023 15,650,000 32,639 1,589 15,684,228

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,596 6,956
Other taxation and social security 155,083 144,837
Other creditors 40,700 44,211
202,379 196,004

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 4,426,145 5,530,001

6. Financial commitments

Commitments

Castle Trust Capital PLC holds fixed and floating charges over the property assets of the company.