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Unaudited Financial Statements |
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for the Year Ended 30 June 2016 |
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for |
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The Officers' Mess Business Centre LLP |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2016 |
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for |
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The Officers' Mess Business Centre LLP |
The Officers' Mess Business Centre LLP (Registered number: OC386876) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2016 |
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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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Chartered Accountants' Report | 7 |
The Officers' Mess Business Centre LLP |
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General Information |
for the Year Ended 30 June 2016 |
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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 |
9 Great Chesterford Court |
London Road |
Great Chesterford |
Essex |
CB10 1PF |
The Officers' Mess Business Centre LLP (Registered number: OC386876) |
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Balance Sheet |
30 June 2016 |
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30.6.16 | 30.6.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS ATTRIBUTABLE TO
MEMBERS |
3,990,727 |
252,444 |
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LOANS AND OTHER DEBTS DUE TO
MEMBERS |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 366,000 | 366,000 |
Other reserves | 7 | ( |
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Fair value reserve | 7 |
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3,990,727 | 252,444 |
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TOTAL MEMBERS' INTERESTS |
Members' other interests | 3,990,727 | 252,444 |
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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 |
(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. |
The Officers' Mess Business Centre LLP (Registered number: OC386876) |
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Balance Sheet - continued |
30 June 2016 |
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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 Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the members of the LLP on
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The Officers' Mess Business Centre LLP (Registered number: OC386876) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2016 |
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1. | STATUTORY INFORMATION |
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The Officers' Mess Business Centre 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The LLP has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial |
Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with |
wholly owned subsidiaries within the group. |
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Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. |
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Revenue from operating leases is recognised on a straight-line basis over the lease term. The aggregate cost of |
any lease incentives provided is recognised as a reduction to the revenue recognised on a straight-line basis. |
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Stocks |
Work in progress is valued at the lower of cost and estimated selling price less costs to develop and sell. Cost |
includes all costs of acquisition and other costs incurred in developing it to its current condition. |
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Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at |
fair value at each reporting date and changes in fair value are recognised in profit or loss. |
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In order to ascertain the fair value at each reporting date, investment properties have been valued using an open |
market valuation on a freehold basis subject to the existing tenancies. Revaluations are conducted annually by |
the directors. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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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. |
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Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, |
they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement |
constitutes a finance transaction it is measure at present value. |
The Officers' Mess Business Centre LLP (Registered number: OC386876) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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3. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
Additions |
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Revaluations | 3,806,256 |
At 30 June 2016 |
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NET BOOK VALUE |
At 30 June 2016 |
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The last independent valuation was dated 31 October 2015 and was made by Lambert Smith Hampton. The |
directors do not consider that the fair value at 30 June 2016 had changed significantly from this valuation. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.16 | 30.6.15 |
£ | £ |
Trade debtors |
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Other debtors |
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VAT |
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Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.16 | 30.6.15 |
£ | £ |
Trade creditors |
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Other creditors |
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Accruals and deferred income |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.6.16 | 30.6.15 |
£ | £ |
Other creditors |
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7. | RESERVES |
Fair |
Other | value |
reserves | reserve | Totals |
£ | £ | £ |
At 1 July 2015 | ( |
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(113,556 | ) |
Unallocated profit | (67,973 | ) | - | (67,973 | ) |
Revaluation of investment property |
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At 30 June 2016 | ( |
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3,624,727 |
The Officers' Mess Business Centre LLP (Registered number: OC386876) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
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8. | RELATED PARTY DISCLOSURES |
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During the year the LLP had interest free loans with other businesses under the same control or in which the |
controlling parties have a participating interest. At the year end the balances owed to and by the LLP were as |
follows: |
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30.6.16 | 30.6.15 |
£ | £ |
Amounts owed to businesses controlled by one or more of the joint
controlling parties of The Officers' Mess Business Centre LLP |
230,000 |
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Chartered Accountants' Report to the Members |
on the Unaudited Financial Statements of |
The Officers' Mess Business Centre 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 Statement of Comprehensive Income 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 The Officers' Mess Business Centre LLP for the year ended 30 June 2016 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 The Officers' Mess Business Centre 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 The Officers' Mess Business Centre LLP and state those matters that we have agreed to state to the members of The Officers' Mess Business Centre 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 The Officers' Mess Business Centre LLP members, as a body, for our work or for this report. |
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It is your duty to ensure that The Officers' Mess Business Centre 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 loss of The Officers' Mess Business Centre LLP. You consider that The Officers' Mess Business Centre 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 The Officers' Mess Business Centre 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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Chartered Accountants |
9 Great Chesterford Court |
London Road |
Great Chesterford |
Essex |
CB10 1PF |
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