Caseware UK (AP4) 2024.0.164 2024.0.164 2025-04-05 2025-04-05 0 2024-04-06 false The principal activity of the limited liability partnership continued to be that of leasing properties 0 true true false OC375636 2024-04-06 2025-04-05 OC375636 2023-04-06 2024-04-05 OC375636 2025-04-05 OC375636 2024-04-05 OC375636 c:FurnitureFittings 2024-04-06 2025-04-05 OC375636 c:FurnitureFittings 2025-04-05 OC375636 c:FurnitureFittings 2024-04-05 OC375636 c:LeaseholdInvestmentProperty 2025-04-05 OC375636 c:LeaseholdInvestmentProperty 2024-04-05 OC375636 c:LeaseholdInvestmentProperty 2 2024-04-06 2025-04-05 OC375636 c:CurrentFinancialInstruments 2025-04-05 OC375636 c:CurrentFinancialInstruments 2024-04-05 OC375636 c:Non-currentFinancialInstruments 2025-04-05 OC375636 c:Non-currentFinancialInstruments 2024-04-05 OC375636 c:CurrentFinancialInstruments c:WithinOneYear 2025-04-05 OC375636 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-05 OC375636 c:Non-currentFinancialInstruments c:AfterOneYear 2025-04-05 OC375636 c:Non-currentFinancialInstruments c:AfterOneYear 2024-04-05 OC375636 e:FRS102 2024-04-06 2025-04-05 OC375636 e:Audited 2024-04-06 2025-04-05 OC375636 e:FullAccounts 2024-04-06 2025-04-05 OC375636 e:LimitedLiabilityPartnershipLLP 2024-04-06 2025-04-05 OC375636 c:Subsidiary1 2024-04-06 2025-04-05 OC375636 c:Subsidiary1 1 2024-04-06 2025-04-05 OC375636 e:SmallCompaniesRegimeForAccounts 2024-04-06 2025-04-05 OC375636 6 2024-04-06 2025-04-05 OC375636 e:PartnerLLP2 2024-04-06 2025-04-05 OC375636 c:FurtherSpecificReserve2ComponentTotalEquity 2025-04-05 OC375636 c:FurtherSpecificReserve2ComponentTotalEquity 2024-04-05 OC375636 f:PoundSterling 2024-04-06 2025-04-05 iso4217:GBP xbrli:pure

Registered number: OC375636 BARON HOUSE BPRA LLP FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 5 APRIL 2025
BARON HOUSE BPRA LLP REGISTERED NUMBER: OC375636 BALANCE SHEET AS AT 5 APRIL 2025
|  |  |  | As restated
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 1 |  | 1
Investment property | 6 |  | 11,100,000 |  | 11,546,654
|  |  | 11,100,001 |  | 11,546,655
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 132,725 |  | 215,074 |
Cash at bank and in hand | 8 | 4,884 |  | 21,841 |
|  | 137,609 |  | 236,915 |
Creditors: amounts falling due within one year | 9 | (8,832,839) |  | (8,791,127) |
Net current liabilities |  |  | (8,695,230) |  | (8,554,212)
Total assets less current liabilities |  |  | 2,404,771 |  | 2,992,443
Creditors: amounts falling due after more than one year | 10 |  | (199,396) |  | -
|  |  | 2,205,375 |  | 2,992,443
Provisions for liabilities |  |  |  |  |
Other provisions |  |  | - |  | (609,485)
Net assets |  |  | 2,205,375 |  | 2,382,958
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Members' capital classified as a liability |  |  | 2,382,958 |  | 2,382,958
Members' other interests |  |  |  |  |
Other reserves classified as equity |  |  | (177,583) |  | -
|  |  | 2,205,375 |  | 2,382,958
Total members' interests |  |  |  |  |
Loans and other debts due to members |  |  | 2,382,958 |  | 2,382,958
Members' other interests |  |  | (177,583) |  | -
|  |  | 2,205,375 |  | 2,382,958
Page 1
BARON HOUSE BPRA LLP REGISTERED NUMBER: OC375636 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 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:
................................................ Downing Members Limited
Designated member
Date: 2 April 2026
The notes on pages 4 to 13 form part of these financial statements. Baron House BPRA 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
BARON HOUSE BPRA 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 | Members' capital (classified as debt) | Other amounts | Total | Total
| £ | £ | £ | £ | £
Amounts due to members |  | 2,194,733 | - | 2,194,733 |
Balance at 1 April 2023 | - | 2,194,733 | - | 2,194,733 | 2,194,733
Members' remuneration charged as an expense | - | - | 188,225 | 188,225 | 188,225
Members' interests after profit for the year | - | 2,194,733 | 188,225 | 2,382,958 | 2,382,958
Conversion of members' capital to debt | - | 188,225 | (188,225) | - | -
Amounts due to members |  | 2,382,958 | - | 2,382,958 |
Balance at 5 April 2024 | - | 2,382,958 | - | 2,382,958 | 2,382,958
Loss for the year available for discretionary division among members | (177,583) | - | - | - | (177,583)
Members' interests after profit for the year | (177,583) | 2,382,958 | - | 2,382,958 | 2,205,375
Amounts due to members |  | 2,382,958 | - | 2,382,958 |
Balance at 5 April 2025 | (177,583) | 2,382,958 | - | 2,382,958 | 2,205,375
The notes on pages 4 to 13 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
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
1. | General information
Baron House BPRA LLP is a Limited Liability Partnership registered in England and Wales. Its registered office address and principal place of business is 10 Lower Thames Street, London, EC3R 6AF. The financial statements are presented in Sterling which is the functional currency of the LLP and rounded to the nearest £1. 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 | Exemption from preparing consolidated financial statements
The LLP, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Going concern
Management monitor the LLP’s working capital requirements and the members consider it is appropriate to prepare the financial statements on a going concern basis. This assumes that the LLP will continue in operational existence for the foreseeable future and for at least 12 months after the signing of the financial statements. The LLP’s subsidiary, Baron House Hotel Limited, performed below budget during the year. Ongoing market challenges and an increasing cost base led to lower than expected profits, resulting in reduced rental payments to the LLP. The LLP’s ability to continue in operational existence for the foreseeable future is also reliant on the continued support of its lenders. The first legal charge on the property is attributed to a bank loan of £5,500,000 held by the LLP’s subsidiary. An intercreditor deed exists between the LLP and the lender of the other loan, which prohibits the loan being called in for repayment before the subsidiary’s bank loan is repaid. The bank loan is due for repayment in October 2026. The members are confident the bank loan will be refinanced. For this reason the members believe that the LLP continues to be a going concern and that it is appropriate to prepare the accounts on a going concern basis.
| 2.4 | Turnover
Turnover recognised in the LLP represents rentals receivable in the year. Turnover is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the turnover can be reliably measured. Turnover 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 turnover is recognised: Page 4
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 2.Accounting policies (continued)
| 2.5 | Operating leases: the LLP as lessor
Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.
| 2.6 | 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.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.8 | 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.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and 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. Investment property rented to other group entities and accounted for under the cost model is stated at historical cost less accumulated depreciation and any accumulated impairment losses. Page 5
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 2.Accounting policies (continued)
| 2.9 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Fixtures and fittings | - | 20% | straight line
The assets' residual values, 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. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.10 | Change in accounting policy – investment property
During the year, the LLP has changed its accounting policy in respect of the classification and measurement of the property. Previously, the property was included within tangible fixed assets and measured at cost less accumulated depreciation. The LLP considers that the property previously met the definition of investment property and has adopted a policy of recognising investment property at fair value, with changes in fair value recognised in profit or loss, in accordance with Section 16 of FRS 102. The members believe that this revised policy provides more reliable and relevant information to users of the financial statements, as it reflects the current market value of the LLP’s property and aligns the LLP’s accounting treatment with the nature of its property activities. This change in accounting policy has been applied retrospectively. Accordingly, the comparative figures have been restated. Depreciation previously charged on the property has been reversed and replaced with fair value movement recognised in profit or loss.
| 2.11 | Investment property
Investment property is carried at fair value. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 2.12 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Page 6
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 2.Accounting policies (continued)
| 2.13 | Impairment of fixed assets
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
| 2.14 | 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.
| 2.15 | 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.
| 2.16 | 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.
| 2.17 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. Page 7
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 2.Accounting policies (continued)
| 2.18 | Financial instruments
The LLP only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a member in the case of a small LLP, or a public benefit entity concessionary loan. 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 balance sheet date.
| 2.19 | Members' remuneration
A member's share in the profit and loss for the period is accounted for as an allocation of profits or losses. Unallocated profits and losses are included within Other Reserves. Page 8
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025 2.Accounting policies (continued)
| 2.20 | Members' participation rights
Members' participation rights are the rights of a member against the LLP that arise under the members' agreement (for example, in respect of amounts subscribed or otherwise contributed, remuneration and profits). Members' participation rights in the earnings or assets of the LLP are analysed between those that are, from the LLP's perspective, either a financial liability or equity, in accordance with Section 11 of FRS 102. A member's participation right results in a liability unless the right to any payment is discretionary on the part of the LLP. Amounts subscribed or otherwise contributed by members, for example members' capital, are classed as equity if the LLP has an unconditional right to refuse payment to members. If the LLP does not have such an unconditional right, such amounts are classified as liabilities. Where profits are automatically divided as they arise, so the LLP does not have an unconditional right to refuse payment, the amounts arising that are due to members are in the nature of liabilities. They are therefore treated as an expense in the Statement of Comprehensive Income in the relevant year. To the extent that they remain unpaid at the year end, they are shown as liabilities in the Balance Sheet. Conversely, where profits are divided only after a decision by the LLP or its representative, so that the LLP has an unconditional right to refuse payment, such profits are classed as an appropriation of equity rather than as an expense. They are therefore shown as a residual amount available for discretionary division among members in the Statement of Comprehensive Income and are equity appropriations in the Balance Sheet. Other amounts applied to members, for example remuneration paid under an employment contract and interest on capital balances, are treated in the same way as all other divisions of profits, as described above, according to whether the LLP has, in each case, an unconditional right to refuse payment. All amounts due to members that are classified as liabilities are presented in the Balance Sheet within 'Loans and other debts due to members' and are charged to the Statement of Comprehensive Income within 'Members' remuneration charged as an expense'. Amounts due to members that are classified as equity are shown in the Balance Sheet within 'Members' other interests'.
3. | Employees
| The entity has no employees in the current or prior year.
Page 9
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 6 April 2024 | 620,000
| At 5 April 2025 | 620,000
| Depreciation |
| At 6 April 2024 | 620,000
| At 5 April 2025 | 620,000
| Net book value |
| At 5 April 2025 | -
| At 5 April 2024 | -
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 6 April 2024 | 1
| At 5 April 2025 | 1
Page 10
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
| Subsidiary undertaking
| The following was a subsidiary undertaking of the LLP:
| Name | Registered office | Principal activity | Class of shares | Holding
| Baron House Hotel Limited | 10 Lower Thames Street, London, England, EC3R 6AF | Hotels and similar accommodation | Ordinary | 100%
6. | Investment property
|  | Long term leasehold investment property
|  | As restated £
| Valuation |
| At 6 April 2024 as restated | 11,546,654
| Deficit on revaluation | (446,654)
| At 5 April 2025 | 11,100,000
The property was valued by Knight Frank LLP on 7 August 2025. The directors are of the opinion that there has been no material change in the valuation since that date.
Page 11
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 12,775 | -
| Amounts owed by group undertakings | 118,098 | 162,688
| Other debtors | 1,852 | 52,386
|  | 132,725 | 215,074
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 4,884 | 21,841
|  | 4,884 | 21,841
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other loans | 3,524,603 | 3,255,155
| Trade creditors | 63,123 | 387,696
| Amounts owed to group undertakings | 5,072,675 | 5,072,675
| Other creditors | 100,000 | -
| Accruals and deferred income | 72,438 | 75,601
|  | 8,832,839 | 8,791,127
| The other loan is secured by a legal charge over the LLP's property. The loan is considered to be repayable on demand and attracts interest at a rate of 5%. Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
Page 12
BARON HOUSE BPRA LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2025
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other creditors | 199,396 | -
|  | 199,396 | -
11. | Loans and other debts due to members
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Members' capital treated as debt | 2,382,958 | 2,382,958
|  | 2,382,958 | 2,382,958
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
12. | Contingent liabilities
The LLP has guaranteed its subsidiary's bank borrowings by a fixed and floating charge over its property. At the year end the maximum liability outstanding was £5,500,000 (2024 - £5,500,000 )
13. | Prior Year Adjustment
A property previously classified within tangible fixed assets has been reclassified as investment property in the comparative period. This represents a presentational change only, with no impact on net assets or reserves. Comparative figures have been restated accordingly.
14. | Auditors' information
The auditors' report on the financial statements for the year ended 5 April 2025 was unqualified. The audit report was signed on 2 April 2026 by Engin Zekia BSc FCA (senior statutory auditor) on behalf of Adler Shine LLP.
Page 13