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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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FOR |
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66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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FOR |
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66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP |
66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP (REGISTERED NUMBER: OC361913) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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General Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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DESIGNATED MEMBERS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
869 High Road |
London |
N12 8QA |
66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP (REGISTERED NUMBER: OC361913) |
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STATEMENT OF FINANCIAL POSITION |
28 FEBRUARY 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
397,134 |
383,731 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
397,134 |
383,731 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 397,134 | 383,731 |
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The members acknowledge their responsibilities for: |
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ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act
2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and |
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preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP. |
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In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered. |
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The financial statements were approved by the members of the LLP on
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66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP (REGISTERED NUMBER: OC361913) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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1. | STATUTORY INFORMATION |
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66 Rokesly Avenue Limited Liability Partnership is registered in England and Wales. The LLP's registered |
number and registered office address can be found on the General Information page. |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover represents rent receivable net of value added tax. |
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INVESTMENT PROPERTY |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in the profit and loss account. |
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Investment property is carried at fair value. Revaluation surpluses are recognised in the income statement. |
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No |
depreciation is provided in respect of investment properties. |
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The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the |
generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small |
entities. The members consider that, because these properties are not held for consumption but for their |
investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The |
Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this |
departure from the Act had not been made, the profit for the financial year would have been reduced by the |
amount of depreciation. |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2018 |
and 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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Fair value at 28 February 2019 is represented by: |
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Valuation in 2013 | 62,597 |
Valuation in 2014 | 59,845 |
Valuation in 2018 | 22,500 |
Cost | 217,558 |
362,500 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 217,558 | 217,558 |
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Investment Property was valued on a fair value basis on 28 February 2018 by the LLP members . |
66 ROKESLY AVENUE LIMITED LIABILITY |
PARTNERSHIP (REGISTERED NUMBER: OC361913) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2019 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other creditors |
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5. | RELATED PARTY DISCLOSURES |
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Included in creditors, amounts due within one year, is a balance of £880 (2017: £864) due to Peter Brown & Co |
LLP, an entity in which the LLP member, Mr PI Brown, is also a member. |