Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-312025-05-272023-06-01falsefalseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. OC442401 2023-06-01 2024-05-31 OC442401 2022-06-01 2023-05-31 OC442401 2024-05-31 OC442401 2023-05-31 OC442401 c:FreeholdInvestmentProperty 2023-06-01 2024-05-31 OC442401 c:FreeholdInvestmentProperty 2024-05-31 OC442401 c:FreeholdInvestmentProperty 2023-05-31 OC442401 c:CurrentFinancialInstruments 2024-05-31 OC442401 c:CurrentFinancialInstruments 2023-05-31 OC442401 c:CurrentFinancialInstruments c:WithinOneYear 2024-05-31 OC442401 c:CurrentFinancialInstruments c:WithinOneYear 2023-05-31 OC442401 d:FRS102 2023-06-01 2024-05-31 OC442401 d:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 OC442401 d:FullAccounts 2023-06-01 2024-05-31 OC442401 d:LimitedLiabilityPartnershipLLP 2023-06-01 2024-05-31 OC442401 d:PartnerLLP1 2023-06-01 2024-05-31 OC442401 d:PartnerLLP2 2023-06-01 2024-05-31 OC442401 d:PartnerLLP3 2023-06-01 2024-05-31 OC442401 c:OtherCapitalInstrumentsClassifiedAsEquity 2024-05-31 OC442401 c:OtherCapitalInstrumentsClassifiedAsEquity 2023-05-31 OC442401 c:FurtherSpecificReserve3ComponentTotalEquity 2024-05-31 OC442401 c:FurtherSpecificReserve3ComponentTotalEquity 2023-05-31 OC442401 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Company registration number: OC442401







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024


MORTLOCK HOUSE LLP






































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MORTLOCK HOUSE LLP
 



INFORMATION




Designated Members

Wigan Ventures Limited
Melrose Cambridge Limited
Lateral Cambridge Limited


LLP registered number

OC442401

Registered office

23 Spring StreetLondonW2 1JA

Accountants

Menzies LLPLynton House7-12 Tavistock SquareLondonWC1H 9LT


 


MORTLOCK HOUSE LLP
REGISTERED NUMBER:OC442401



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
22,886,116
22,769,297

  
22,886,116
22,769,297

Current assets
  

Debtors: amounts falling due within one year
 5 
1,346,121
607,147

Cash at bank and in hand
  
1,209,720
895,830

  
2,555,841
1,502,977

Creditors: Amounts Falling Due Within One Year
 6 
(18,912,487)
(19,251,982)

Net current liabilities
  
 
 
(16,356,646)
 
 
(17,749,005)

Total assets less current liabilities
  
6,529,470
5,020,292

  

Net assets
  
6,529,470
5,020,292


Represented by:
  

Loans and other debts due to members within one year
  

Members' capital classified as a liability
  
6,455,250
4,973,572

  
6,455,250
4,973,572

Members' other interests
  

Members' capital classified as equity
  
74,220
46,720

  
 
74,220
 
46,720

  
6,529,470
5,020,292


Total members' interests
  

Loans and other debts due to members
  
6,455,250
4,973,572

Members' other interests
  
74,220
46,720

  
6,529,470
5,020,292

Page 1

 


MORTLOCK HOUSE LLP
REGISTERED NUMBER:OC442401


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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: 




Wigan Ventures Limited
Designated member

Date: 27 May 2025

The notes on pages 4 to 6 form part of these financial statements.

Mortlock House 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

 


MORTLOCK HOUSE LLP
 



RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MAY 2024







EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Members' capital (classified as equity)
Other reserves
Total
Members' capital (classified as debt)
Total
Total

£
£
£
£
£
£

Profit for the year available for discretionary division among members
 
-
360,292
360,292
-
-
360,292

Members' interests after profit for the year
-
360,292
360,292
-
-
360,292

Other division of profits
-
(360,292)
(360,292)
-
-
(360,292)

Amounts introduced by members
46,720
-
46,720
4,973,572
4,973,572
5,020,292

Amounts due to members
4,973,572
4,973,572

Balance at 31 May 2023
46,720
-
46,720
4,973,572
4,973,572
5,020,292

Loss for the year available for discretionary division among members
 
-
(1,240,822)
(1,240,822)
-
-
(1,240,822)

Members' interests after profit for the year
46,720
(1,240,822)
(1,194,102)
4,973,572
4,973,572
3,779,470

Other division of losses
-
1,240,822
1,240,822
-
-
1,240,822

Amounts introduced by members
27,500
-
27,500
1,481,678
1,481,678
1,509,178

Amounts due to members
6,455,250
6,455,250

Balance at 31 May 2024 
74,220
-
74,220
6,455,250
6,455,250
6,529,470

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 3

 


MORTLOCK HOUSE LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Mortlock House LLP is a limited liability partnership, Incorporated in England & Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 generated through rental income measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Borrowing costs

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

 
2.4

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.

 
2.5

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.

Page 4

 


MORTLOCK HOUSE LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

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.

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 entity has no employees.



Page 5

 


MORTLOCK HOUSE LLP
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
22,769,297


Additions at cost
116,819



At 31 May 2024
22,886,116

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








5.


Debtors

2024
2023
£
£


Trade debtors
-
18,779

Other debtors
-
2,252

Prepayments and accrued income
1,346,121
586,116

1,346,121
607,147



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
17,880,080
18,535,281

Trade creditors
264
47,111

Other creditors
675,694
668,340

Accruals and deferred income
356,449
1,250

18,912,487
19,251,982


As at year end, the bank loans of £17,880,080 are secured over fixed and floating charges over the assets of the company.

 
Page 6