Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-31false22true2024-04-01No description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC337172 2024-04-01 2025-03-31 OC337172 2023-06-01 2024-03-31 OC337172 2025-03-31 OC337172 2024-03-31 OC337172 c:CurrentFinancialInstruments 2025-03-31 OC337172 c:CurrentFinancialInstruments 2024-03-31 OC337172 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC337172 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 OC337172 d:FRS102 2024-04-01 2025-03-31 OC337172 d:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 OC337172 d:FullAccounts 2024-04-01 2025-03-31 OC337172 d:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC337172 2 2024-04-01 2025-03-31 OC337172 6 2024-04-01 2025-03-31 OC337172 d:PartnerLLP2 2024-04-01 2025-03-31 OC337172 c:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 OC337172 c:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 OC337172 c:FurtherSpecificReserve2ComponentTotalEquity 2025-03-31 OC337172 c:FurtherSpecificReserve2ComponentTotalEquity 2024-03-31 OC337172 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: OC337172









JONES PROPERTY ASSOCIATES LLP







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
JONES PROPERTY ASSOCIATES LLP
REGISTERED NUMBER: OC337172

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025


2025

2024
Note
£
£
£
£

Fixed assets
  

Investments
 3 
1,150,000
1,150,000

Current assets
  

Debtors: amounts falling due within one year
 4 
940
5,000

Cash at bank and in hand
 5 
29,087
30,990

  
30,027
35,990

Creditors: Amounts falling due within one year
 6 
(3,311)
(4,646)

Net current assets
  
 
 
26,716
 
 
31,344

  

Net assets
  
1,176,716
1,181,344


Represented by:
  

Loans and other debts due to members within one year
  

Members' other interests
  

Revaluation reserve classified as equity
  
800,000
800,000

Other reserves classified as equity

  

376,716
381,344

  
 
1,176,716
 
1,181,344

  
1,176,716
1,181,344


Total members' interests
  

Members' other interests
  
1,176,716
1,181,344

  
1,176,716
1,181,344


Page 1

 
JONES PROPERTY ASSOCIATES LLP
REGISTERED NUMBER: OC337172
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025

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 on 14 July 2025.




C L Jones
Designated member

The notes on pages 4 to 7 form part of these financial statements.

Jones Property Associates 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

 
JONES PROPERTY ASSOCIATES LLP
 

RECONCILIATION OF MEMBERS' INTERESTS
FOR THE YEAR ENDED 31 MARCH 2025





EQUITY
Members' other interests
Revaluation reserve
Other reserves
Total

£
£
£

Balance at 1 June 2023 
800,000
374,405
1,174,405

Profit for the year available for discretionary division among members
 
-
53,939
53,939

Members' interests after profit for the year / period
800,000
428,344
1,228,344

Movement in reserves
 
-
(47,000)
(47,000)

Balance at 31 March 2024
800,000
381,344
1,181,344

Profit for the year available for discretionary division among members
 
-
67,372
67,372

Members' interests after profit for the year
800,000
448,716
1,248,716

Movement in reserves
 
-
(72,000)
(72,000)

Balance at 31 March 2025 
800,000
376,716
1,176,716

The notes on pages 4 to 7 form part of these financial statements.
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

 
JONES PROPERTY ASSOCIATES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Jones Property Associates LLP is a limited liability partnership, incorporated in England and Wales. The address of the registered office is 3 Brook Business Centre, Cowley Mill Road, Uxbridge, England, UB8 2FX.
The LLP specialises in property investment.

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:

Revenue represents income from the provision of rental properties and other services provided by the company. Rental revenue is recognised over the length of the respective lease term. Revenue relating to other services is recognised when the service is provided.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
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 discretionarily. Discretionary divisions of profits choose discretionary and this will automatically change.

Page 4

 
JONES PROPERTY ASSOCIATES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Investment property

Investment property is carried at fair value determined annually by internal valuers and/or members 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 the Statement of comprehensive income.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted LLP shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The LLP only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the LLP would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
 
Page 5

 
JONES PROPERTY ASSOCIATES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.9
Financial instruments (continued)


 
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.


3.


Fixed asset investments





Unlisted investments
Investment property
Total

£
£
£



Cost or valuation


At 1 April 2024
350,000
800,000
1,150,000



At 31 March 2025
350,000
800,000
1,150,000




The fair value of the property as at 31 March 2025 has been arrived at on the basis of a valuation carried out at that date by a designated member, who is not a professional valuer. The original cost of the property to the LLP was £Nil.
Unlisted Investments
The unlisted investments of £350,000 (2024 - £350,000) relate to shares in non-related companies. All investment companies are registered in the UK.

Page 6

 
JONES PROPERTY ASSOCIATES LLP
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Debtors

2025
2024
£
£


Prepayments and accrued income
940
5,000

940
5,000



5.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
29,087
30,990

29,087
30,990



6.


Creditors: Amounts falling due within one year

2025
2024
£
£

Accruals and deferred income
3,311
4,646

3,311
4,646


 
Page 7