Acorah Software Products - Accounts Production 16.5.460 false true true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 NC001422 Dakota-Silvan Limited Dakota Carry LLP Mr B J Eastwood Mr M P Ho iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NC001422 2023-08-31 NC001422 2024-08-31 NC001422 2023-09-01 2024-08-31 NC001422 frs-core:CurrentFinancialInstruments 2024-08-31 NC001422 frs-core:Non-currentFinancialInstruments 2024-08-31 NC001422 frs-bus:LimitedLiabilityPartnershipLLP 2023-09-01 2024-08-31 NC001422 frs-bus:LimitedLiabilityPartnershipsSORP 2023-09-01 2024-08-31 NC001422 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 NC001422 frs-bus:SmallEntities 2023-09-01 2024-08-31 NC001422 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 NC001422 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NC001422 1 2023-09-01 2024-08-31 NC001422 frs-countries:NorthernIreland 2023-09-01 2024-08-31 NC001422 frs-bus:PartnerLLP1 2023-09-01 2024-08-31 NC001422 frs-bus:PartnerLLP2 2023-09-01 2024-08-31 NC001422 frs-bus:PartnerLLP3 2023-09-01 2024-08-31 NC001422 frs-bus:PartnerLLP4 2023-09-01 2024-08-31 NC001422 2022-08-31 NC001422 2023-08-31 NC001422 2022-09-01 2023-08-31 NC001422 frs-core:CurrentFinancialInstruments 2023-08-31 NC001422 frs-core:Non-currentFinancialInstruments 2023-08-31
Registered number: NC001422
Dakota Silvan LLP
Unaudited Financial Statements
For The Year Ended 31 August 2024
Ripe LLP
9A Burroughs Gardens
London
NW4 4AU
Contents
Page
LLP Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
LLP Information
Designated Members Dakota-Silvan Limited
Dakota Carry LLP
Mr B J Eastwood
Mr M P Ho
LLP Registration Number NC001422
Registered Office 21 Arthur Street
Belfast
Antrim
BT1 4GA
Accountants Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU
Page 1
Page 2
Balance Sheet
Registered number: NC001422
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 6 6,028,338 6,000,000
6,028,338 6,000,000
CURRENT ASSETS
Debtors 7 385,629 3,401,934
Cash at bank and in hand 570,375 606,053
956,004 4,007,987
Creditors: Amounts Falling Due Within One Year 8 (160,420 ) (3,183,702 )
NET CURRENT ASSETS (LIABILITIES) 795,584 824,285
TOTAL ASSETS LESS CURRENT LIABILITIES 6,823,922 6,824,285
Creditors: Amounts Falling Due After More Than One Year 9 (10,891,366 ) (12,500,226 )
NET LIABILITIES ATTRIBUTABLE TO MEMBERS (4,067,444 ) (5,675,941 )
REPRESENTED BY:
Equity
Members' other interests
Members' capital 4,018,450 4,018,450
Other reserves (8,085,894) (9,694,391)
(4,067,444) (5,675,941)
TOTAL MEMBERS' INTEREST
Members' other interests (4,067,444) (5,675,941)
(4,067,444) (5,675,941)
Page 2
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For the year ending 31 August 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 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr M P Ho
Designated Member
28/08/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Dakota Silvan LLP is a limited liability partnership, incorporated in Northern Ireland, registered number NC001422 . The Registered Office is 21 Arthur Street, Belfast, Antrim, BT1 4GA.
2. Statement of Compliance
The financial statements have been prepared in accordance with Financial Reporting Standard 102 for small limited liability partnerships regime - "The Financial Reporting Standard applicable in the UK and Republic of Ireland", The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention.
3.2. Going Concern Disclosure
The LLP has net liabilities at the year end of £4,067,444 (2023: net liabilities of £5,675,941), largely due to a write down in the fair value of the investment property by the Members. Included in these net liabilities is a loan due to related party Dakota-Silvan (HK) Limited which is due for repayment in August 2025. The directors of Dakota-Silvan (HK) Ltd have provided assurances that they will not call in this debt until the company has sufficient resources to repay the debt. This will therefore ensure that the entity has sufficient resources to continue its normal course of business for a period of at least 12 months from the date of signing the financial statements. 
After consideration of the above, the designated members consider it appropriate to prepare the financial statements on a going concern basis.
3.3. Significant judgements and estimations
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
3.4. Turnover
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: 
Rental of investment property
Revenue from a contract to lease the property is recognised in the period in which the property is occupied. Any rent free periods included withing the lease agreement are spread across the useful life of the lease, when all of the following conditions are satisfied:
• the amount of revenue can be measured reliably; and
• it is probable that the LLP will receive the consideration due under the contract.
3.5. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
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3.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
3.7.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the limited liability partnership does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 
Trade creditors are recognised initially at the transaction price.
Operating leasing
Rental income from operating leases is recognised on a straight line basis over the term of the lease. 
Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another sustematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.
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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. 
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. 
Borrowings are classified as current liabilities unless the partnership has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. 
Borrowing costs which are directly attributable to the construction of tangible fixed assets are capitalised as part of the cost of those assets. The commencement of capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
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4. Average Number of Employees
Employees
The entity has no employees in the partnership.
Information in relation to members
No members received remuneration during the year (2023 : £NIL).
NIL (2023: )
- -
5. Members' Remuneration
2024 2023
Average number of members during the year 4 4
2024 2023
£ £
Profit attributable to the member with the largest entitlement - -
6. Investment Property
2024
£
Fair Value
As at 1 September 2023 6,000,000
Additions 28,338
As at 31 August 2024 6,028,338
There has been no valuation of investment property by an independent valuer.
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 27,915 3,114,458
Related Party - Dakota Capella Limited - 4,431
VAT 19,580 10,050
Amounts owed by group undertakings 338,134 272,995
385,629 3,401,934
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Page 7
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 40,250 600
Accruals and deferred income 120,170 3,183,102
160,420 3,183,702
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to group undertakings 10,891,366 12,500,226
10. Related Party Disclosures
Member of the Partnership
Dakota-Silvan Limited
As at balance sheet date, Dakota-Silvan Limited owed the Partnership £285,574 (2023 : £224,766)
Dakota Carry LLP
As at balance sheet date, Dakota Carry LLP owed the Partnership £5,143 (2023 : £4,143)
Tak Pong Matthew Ho
As at balance sheet date, Tak Pong Matthew Ho owed the Partnership £5,310 (2023 : £4,247)
Related parties
Everest Capital Associates Limited
As at balance sheet date, Everst Capital Associates Limited, a member of Dakota Carry LLP owed to the Partnership £28,086 (2023 : £26,773).
LT Land Limited
As at balance sheet date, LT Land Ltd, a member of Dakota Carry LLP owed to the Partnership £14,021 (2023 : £13,066).
Dakota Silvan (HK) Limited
As at balance sheet date, Dakota Silvan (HK) Limited owed to the Partnership £10,891,366 (2023 : £12,500,226)
11. Controlling Parties
The members are the controlling party by virtue of their controlling interest in the limited liability partnership. The ultimate controlling party is the same as the controlling party.
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