Caseware UK (AP4) 2025.0.111 2025.0.111 2026-03-31 2026-03-31 8 2025-04-01 false No description of principal activity 8 true true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC415149 2025-04-01 2026-03-31 OC415149 2024-04-01 2025-03-31 OC415149 2026-03-31 OC415149 2025-03-31 OC415149 c:FurnitureFittings 2025-04-01 2026-03-31 OC415149 c:FurnitureFittings 2026-03-31 OC415149 c:FurnitureFittings 2025-03-31 OC415149 c:FurnitureFittings c:OwnedOrFreeholdAssets 2025-04-01 2026-03-31 OC415149 c:FreeholdInvestmentProperty 2026-03-31 OC415149 c:FreeholdInvestmentProperty 2025-03-31 OC415149 c:CurrentFinancialInstruments 2026-03-31 OC415149 c:CurrentFinancialInstruments 2025-03-31 OC415149 c:Non-currentFinancialInstruments 2026-03-31 OC415149 c:Non-currentFinancialInstruments 2025-03-31 OC415149 c:CurrentFinancialInstruments c:WithinOneYear 2026-03-31 OC415149 c:CurrentFinancialInstruments c:WithinOneYear 2025-03-31 OC415149 c:Non-currentFinancialInstruments c:AfterOneYear 2026-03-31 OC415149 c:Non-currentFinancialInstruments c:AfterOneYear 2025-03-31 OC415149 d:FRS102 2025-04-01 2026-03-31 OC415149 d:AuditExempt-NoAccountantsReport 2025-04-01 2026-03-31 OC415149 d:FullAccounts 2025-04-01 2026-03-31 OC415149 d:LimitedLiabilityPartnershipLLP 2025-04-01 2026-03-31 OC415149 2 2025-04-01 2026-03-31 OC415149 d:PartnerLLP1 2025-04-01 2026-03-31 OC415149 c:FurtherSpecificReserve3ComponentTotalEquity 2026-03-31 OC415149 c:FurtherSpecificReserve3ComponentTotalEquity 2025-03-31 OC415149 e:PoundSterling 2025-04-01 2026-03-31 iso4217:GBP xbrli:pure

Registered number: OC415149 LAUNCELOT PARTNERS I LLP UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2026
LAUNCELOT PARTNERS I LLP REGISTERED NUMBER: OC415149 STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 3 |  | 25,714 |  | 33,163
Investment property | 4 |  | 8,531,967 |  | 8,531,967
|  |  | 8,557,681 |  | 8,565,130
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 22,000 |  | 38,251 |
Cash at bank and in hand | 6 | 594,310 |  | 509,826 |
|  | 616,310 |  | 548,077 |
Creditors: Amounts Falling Due Within One Year | 7 | (554,948) |  | (576,045) |
Net current assets/(liabilities) |  |  | 61,362 |  | (27,968)
Total assets less current liabilities |  |  | 8,619,043 |  | 8,537,162
Creditors: amounts falling due after more than one year | 8 |  | (2,625,000) |  | (2,700,000)
|  |  | 5,994,043 |  | 5,837,162
Net assets |  |  | 5,994,043 |  | 5,837,162
Represented by: |  |  |  |  |
Loans and other debts due to members within one year |  |  |  |  |
Other amounts | 9 |  | 5,994,043 |  | 5,837,162
|  |  | 5,994,043 |  | 5,837,162
|  |  | 5,994,043 |  | 5,837,162
Total members' interests |  |  |  |  |
Loans and other debts due to members | 9 |  | 5,994,043 |  | 5,837,162
|  |  | 5,994,043 |  | 5,837,162
Page 1
LAUNCELOT PARTNERS I LLP REGISTERED NUMBER: OC415149 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2026 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 8 June 2026.
Launcelot Investments (UK) Limited
Designated member
The notes on pages 3 to 7 form part of these financial statements. Launcelot Partners I 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
LAUNCELOT PARTNERS I LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
The LLP is registered in England and Wales.The address of the registered office is 122 Wigmore Street, London, England, W1U 3RY. 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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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: 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 | Operating leases: the LLP as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | 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. Page 3
LAUNCELOT PARTNERS I LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.6 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.7 | Tangible fixed assets
Tangible fixed assets under the cost model, other than investment properties, 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. 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.
|  |  |  | Fixtures and fittings | - | 20% |
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.
| 2.8 | 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.
| 2.9 | 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.
| 2.10 | 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.
| 2.11 | 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. Page 4
LAUNCELOT PARTNERS I LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
3. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 1 April 2025 | 40,801
| At 31 March 2026 | 40,801
| Depreciation |
| At 1 April 2025 | 7,638
| Charge for the year on owned assets | 7,449
| At 31 March 2026 | 15,087
| Net book value |
| At 31 March 2026 | 25,714
| At 31 March 2025 | 33,163
4. | Investment property
|  | Investment property
|  | £
| Valuation |
| At 1 April 2025 | 8,531,967
| At 31 March 2026 | 8,531,967
The 2026 valuations were made by the members, on an open market value basis.
Page 5
LAUNCELOT PARTNERS I LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Trade debtors | 17,950 | 38,251
| Prepayments and accrued income | 4,050 | -
|  | 22,000 | 38,251
6. | Cash and cash equivalents
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Cash at bank and in hand | 594,310 | 509,826
|  | 594,310 | 509,826
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | 100,000 | 100,000
| Trade creditors | 12,434 | 8,470
| Amounts owed to group undertakings | 69,980 | 115,522
| Other taxation and social security | 62,779 | 21,086
| Other creditors | 265,319 | 265,319
| Accruals and deferred income | 44,436 | 65,648
|  | 554,948 | 576,045
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank loans | 2,625,000 | 2,700,000
|  | 2,625,000 | 2,700,000
| The bank loan is secured against the investment property held by the LLP.
Page 6
LAUNCELOT PARTNERS I LLP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
9. | Loans and other debts due to members
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other amounts due to members | 5,994,043 | 5,837,162
|  | 5,994,043 | 5,837,162
Loans and other debts due to members may be further analysed as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Falling due after more than one year | 5,994,043 | 5,837,162
|  | 5,994,043 | 5,837,162
Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.
Page 7