| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 31 December 2023 to 30 May 2024 |
| for |
| Clinitek Prop LLP |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 31 December 2023 to 30 May 2024 |
| for |
| Clinitek Prop LLP |
| Clinitek Prop LLP (Registered number: OC428879) |
| Contents of the Financial Statements |
| for the Period 31 December 2023 to 30 May 2024 |
| Page |
| General Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Clinitek Prop LLP |
| General Information |
| for the Period 31 December 2023 to 30 May 2024 |
| DESIGNATED MEMBERS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Statutory Auditors |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| Clinitek Prop LLP (Registered number: OC428879) |
| Balance Sheet |
| 30 May 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| and |
| NET ASSETS ATTRIBUTABLE TO MEMBERS |
100 |
1,792,945 |
| LOANS AND OTHER DEBTS DUE TO MEMBERS |
6 |
- |
125,465 |
| MEMBERS' OTHER INTERESTS |
| Capital accounts | 100 | 1 |
| Other reserves |
| 100 | 1,792,945 |
| TOTAL MEMBERS' INTERESTS |
| Loans and other debts due to members | 6 | - | 125,465 |
| Members' other interests | 100 | 1,667,480 |
| Amounts due from members | (29,187 | ) | - |
| (29,087 | ) | 1,792,945 |
| The financial statements were approved by the members of the LLP and authorised for issue on |
| Clinitek Prop LLP (Registered number: OC428879) |
| Notes to the Financial Statements |
| for the Period 31 December 2023 to 30 May 2024 |
| 1. | STATUTORY INFORMATION |
| Clinitek Prop LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| As at the date of signing, Clinitek (Malvern) LLP (the tenant) does not have a functional plant which is capable of generating revenue and rental charges between the LLP and the tenant had ceased in October 2022 by mutual agreement by joint management. These conditions significantly impact the LLP and as such indicate that a material uncertainty exists that may cast doubt on the LLP's ability to operate as a going concern. |
| The designated members and their parent entities have pledged to support the LLP's working capital requirements for a period of 12 months from the signing and approval of the accounts. Accordingly, the going concern basis has been adopted in the financial statements. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model are stated at historical cost less 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. |
| No depreciation has been provided on the freehold as the asset related to land (non depreciable) at the balance sheet date. |
| At each reporting date the LLP assess whether there is any indication of impairment. If such indication exists, the recoverable amount fo the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
| The assets' residual value, 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. |
| Turnover |
| Turnover represents rental income, net sales of services provided during the year and share of partnership profits for the period, excluding value added tax where applicable. |
| Exceptional items |
| Exceptional items are transactions that are presented separately due to their extraordinary size or incidence. |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees, including members with contracts of employment, during the period was NIL (2023 - NIL). |
| Clinitek Prop LLP (Registered number: OC428879) |
| Notes to the Financial Statements - continued |
| for the Period 31 December 2023 to 30 May 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Land and |
| buildings |
| £ |
| COST |
| At 31 December 2023 |
| and 30 May 2024 |
| NET BOOK VALUE |
| At 30 May 2024 |
| At 30 December 2023 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 6. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
| 2024 | 2023 |
| £ | £ |
| Amounts owed to members in respect of profits | - | 125,465 |
| Falling due within one year | - | 125,465 |
| Loans and other debts due to members will rank equally with debts due to ordinary creditors in the event of a winding up. |
| 7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| We draw attention to note 2 - Going concern in the financial statements, which indicates that the tenant is not paying rent as a result of not having a functional plant capable of generating revenue. This is sufficient to indicate that a material uncertainty exists that may cast significant doubt over the LLP's ability to continue as a going concern. |
| The designated members and their parent entities have pledged to support the LLP's working capital requirements for a period of 12 months from the signing and approval of the accounts. Our opinion is not modified in respect of this matter. |
| In auditing the financial statements, we have concluded that the members' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| for and on behalf of |
| Clinitek Prop LLP (Registered number: OC428879) |
| Notes to the Financial Statements - continued |
| for the Period 31 December 2023 to 30 May 2024 |
| 8. | RELATED PARTY DISCLOSURES |
| The LLP incurred management service charges from Equitix Management Services Limited of £8,494 (2023: £5,809). At the period end, the amount due to Equitix Management Services Limited was £nil (2023: £10,180). Equitix Management Services Limited is a related party by way of it's mutual ultimate parent company in relation to the LLP's previous members. |
| At the year end, the amount due to Clinitek (Malvern) LLP was £4,500 (2023: £3,000). Clinitek (Malvern) LLP is a related party by way of it's mutual ultimate parent company. |
| At the period end, the amount due to Thermeco SWIP Holdco Limited was £1,825,711 (2023 £nil). Thermeco SWIP Holdco Limited by way of it's mutual ultimate parent company. |