ACCOUNTS - Final Accounts preparation

Registered number: OC356224

COVER DRIVE INVESTMENTS LLP

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2025

COVER DRIVE INVESTMENTS LLP

REGISTERED NUMBER: OC356224

BALANCE SHEET

AS AT 5 APRIL 2025

		2025		2024
Note		£		£

Fixed assets
Investment property			828,206		828,206
			828,206		828,206
Current assets
Debtors: amounts falling due within one year	5	1,037		904
Cash at bank and in hand	6	2,279		2,358
		3,316		3,262
Creditors: Amounts Falling Due Within One Year	7	(1,025)		(1,025)
Net current assets			2,291		2,237
Total assets less current liabilities			830,497		830,443

Net assets			830,497		830,443

Represented by:
Loans and other debts due to members within one year
Other amounts			3,128		3,074
			3,128		3,074
Members' other interests
Other reserves classified as equity		827,369		827,369
			827,369		827,369
			830,497		830,443

Total members' interests
Loans and other debts due to members			3,128		3,074
Members' other interests			827,369		827,369
			830,497		830,443

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COVER DRIVE INVESTMENTS LLP

REGISTERED NUMBER: OC356224

BALANCE SHEET (CONTINUED)

AS AT 5 APRIL 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 profit and loss account 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:

................................................

J H Hoffman

Designated member

Date: 18 November 2025

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

Cover Drive Investments 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.

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		COVER DRIVE INVESTMENTS LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE YEAR ENDED 5 APRIL 2025


	EQUITY Members' other interests		DEBT Loans and other debts due to members less any amounts due from members in debtors		Total members' interests
	Other reserves	Total	Other amounts	Total	Total
	£	£	£	£	£
Loss for the year available for discretionary division among members	(170)	(170)	-	-	(170)
Members' interests after profit for the year	827,199	827,199	3,074	3,074	830,273
Other division of losses	170	170	-	-	170
Amounts due to members			3,074	3,074
Balance at 5 April 2024	827,369	827,369	3,128	3,128	830,497
Profit for the year available for discretionary division among members	54	54	-	-	54
Members' interests after profit for the year	827,423	827,423	3,128	3,128	830,551
Other division of profits	(54)	(54)	-	-	(54)
Amounts due to members			3,128	3,128
Balance at 5 April 2025	827,369	827,369	3,128	3,128	830,497

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.

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COVER DRIVE INVESTMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1.	General information

Cover Drive Investments LLP, OC356224, is a limited liability partnership, incorporated in England and Wales, with its registered office and principal place of business at 16 Dalkeith Grove, Stanmore, Middlesex, HA7 4SG.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the LLP has transferred the significant risks and rewards of ownership to the buyer;

∙the LLP retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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COVER DRIVE INVESTMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

2.Accounting policies (continued)

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.

2.6

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.

2.7

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.

2.8

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.

Employees

The average monthly number of employees, including directors, during the year was 9 (2024 - 10).

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COVER DRIVE INVESTMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 6 April 2024	828,206
	At 5 April 2025	828,206

The 2025 valuations were made by the members, on an open market value for existing use basis.

5.

Debtors

					2025	2024
					£	£


	Other debtors	1,037	904
		1,037	904

6.	Cash and cash equivalents
					2025	2024
					£	£

	Cash at bank and in hand	2,279	2,358
		2,279	2,358

7.	Creditors: Amounts falling due within one year
					2025	2024
					£	£

	Accruals and deferred income	1,025	1,025
		1,025	1,025

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COVER DRIVE INVESTMENTS LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

8.	Loans and other debts due to members

					2025	2024
					£	£


	Other amounts due to members	3,128	3,074
		3,128	3,074

Loans and other debts due to members may be further analysed as follows:

					2025	2024
					£	£


	Falling due after more than one year	3,128	3,074
		3,128	3,074

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

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