|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
|
FOR |
|
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019 |
|
FOR |
|
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP |
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC365643) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
|
|
|
Page |
|
General Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP |
|
GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
DESIGNATED MEMBERS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC365643) |
|
BALANCE SHEET |
31 MARCH 2019 |
|
31.3.19 | 31.3.18 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
and |
NET ASSETS ATTRIBUTABLE TO
MEMBERS |
2,259,317 |
2,423,599 |
|
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
2,259,317 |
2,423,599 |
|
TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 2,259,317 | 2,423,599 |
|
|
|
The members acknowledge their responsibilities for: |
(a) |
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 |
(b) |
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. |
|
|
|
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. |
|
The financial statements were approved by the members of the LLP and authorised for issue on
signed by: |
|
|
|
|
|
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC365643) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
1. | STATUTORY INFORMATION |
|
Praetura Ventures (1) 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. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
3. | EMPLOYEE INFORMATION |
|
The average number of employees during the year was NIL (2018 - NIL). |
|
4. | FIXED ASSET INVESTMENTS |
Interest |
in other |
participating |
interests |
£ |
COST OR VALUATION |
At 1 April 2018 | 2,388,400 |
Revaluations | (164,282 | ) |
At 31 March 2019 | 2,224,118 |
NET BOOK VALUE |
At 31 March 2019 | 2,224,118 |
At 31 March 2018 | 2,388,400 |
|
Investments are measured at fair value with changes in fair value recognised in profit or loss. |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
as restated |
£ | £ |
Other debtors |
|
|
PRAETURA VENTURES (1) LIMITED |
LIABILITY PARTNERSHIP (REGISTERED NUMBER: OC365643) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
6. | PRIOR YEAR ADJUSTMENTS |
|
The 2019 accounts reflect a change in accounting policy that now measures investments at fair value with |
changes in fair value recognised in profit or loss. Prior to this movements in the investment value were recorded |
via a revaluation reserve. Furthermore the investment value as at 31 March 2018 was undervalued by £43,767. |
|
Included in other debtors as at 31 March 2018 was an amount owed to the company overstated by £53,458. |
|
The split of monies owed from and owing to each partner was incorrectly recorded in the prior year, resulting in |
£365,938 showing as owed from one partner and £470,924 when both balances were nil. |
|
The net effect of these restatements on the Balance Sheet is to increase investments by £43,767, remove the |
revaluation reserve of £2,328,304, reduce current assets by £419,396 being the sum of the other debtors and |
partner balance amendment, and reduce net assets attributable to members by £375,629. |