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REGISTERED NUMBER:
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AL&C LLP |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2020 |
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REGISTERED NUMBER:
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AL&C LLP |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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31 MARCH 2020 |
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AL&C LLP (REGISTERED NUMBER: OC367010) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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General Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Accountants' Report | 6 |
AL&C LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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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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Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
AL&C LLP (REGISTERED NUMBER: OC367010) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
2,687,469 |
2,723,526 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
7 |
2,687,469 |
2,723,526 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 2,687,469 | 2,723,526 |
Amounts due from members | 5 | - | (35,016 | ) |
2,687,469 | 2,688,510 |
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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 |
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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. |
AL&C LLP (REGISTERED NUMBER: OC367010) |
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BALANCE SHEET - continued |
31 MARCH 2020 |
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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 and authorised for issue on
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AL&C LLP (REGISTERED NUMBER: OC367010) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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AL&C LLP 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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The presentation currency of the financial statements is the Pound Sterling (£). |
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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, and is accounted for on an accruals basis. All turnover is |
exclusive of VAT and trade discounts. |
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The turnover of the LLP is wholly attributable to the principal activities and arises entirely within the |
United Kingdom. |
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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 profit or loss. |
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Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial |
instruments. Basic financial instruments are initially recognised at transaction value and subsequently |
measured at their settlement value. |
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Debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. |
Prepayments are valued at the amount prepaid net of any trade discounts due. |
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Cash at bank and in hand |
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short |
maturity of three months or less from the date of acquisition or opening of the deposit or similar |
account. |
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Creditors and provisions |
Creditors and provisions are recognised where the company has a present obligation (legal and |
constructive) resulting from a past event that will probably result in the transfer of funds to a third party |
and the amount due to settle the obligation can be measured or estimated reliably. Creditors and |
provisions are normally recognised at their settlement amount after allowing for any trade discounts |
due. |
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3. | EMPLOYEE INFORMATION |
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The average number of employees during the year was NIL (2019 - NIL). |
AL&C LLP (REGISTERED NUMBER: OC367010) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2019 |
and 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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The investment properties are currently held at cost valuation in Financial Statements. |
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The Members have considered the current valuation held in the financial statements and are satisfied |
that any difference in this valuation to current market value is not considered materially sufficient to |
adjust in these financial statements. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2020 | 2019 |
£ | £ |
Amounts owed to members in respect of profits | 22,469 | 58,526 |
Capital account | 2,665,000 | 2,665,000 |
2,687,469 | 2,723,526 |
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Falling due within one year | 2,687,469 | 2,723,526 |
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Loans and other debts due to members rank equally with debts due to unsecured creditors in the event |
of winding up. There is no provision for specific legally enforceable protection afforded to creditors in |
such an event. There are no restrictions or limitations on the ability of the members to reduce the |
amount of Members' other interests |
ACCOUNTANTS' REPORT TO THE MEMBERS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
AL&C LLP |
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The following reproduces the text of the report prepared for the members in respect of the LLP's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only |
required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Members are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006 as applied to LLPs by the Limited |
Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, we have |
prepared for your approval the financial statements of AL&C LLP for the year ended 31 March 2020 which |
comprise the Income Statement, Balance Sheet and the related notes from the LLP's accounting records and |
from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the members of AL&C LLP, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AL&C LLP and state those matters that we have agreed to state to the members of AL&C LLP, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AL&C LLP and its members, as a body, for our work or for this report. |
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It is your duty to ensure that AL&C LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AL&C LLP. You consider that AL&C LLP is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of AL&C LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Langdon House |
Langdon Road |
SA1 Swansea Waterfront |
Swansea |
SA1 8QY |
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