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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FORMATIONS NO 3 LLP |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2019 |
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FORMATIONS NO 3 LLP |
FORMATIONS NO 3 LLP (REGISTERED NUMBER: OC402772) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 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 | 4 |
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FORMATIONS NO 3 LLP |
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GENERAL INFORMATION |
FOR THE YEAR ENDED 31 MARCH 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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Fifth Floor |
11 Leadenhall Street |
London |
EC3V 1LP |
FORMATIONS NO 3 LLP (REGISTERED NUMBER: OC402772) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2019 |
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2019 | 2018 |
(Restated) |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT 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 |
9,233,488 |
2,957,410 |
FORMATIONS NO 3 LLP (REGISTERED NUMBER: OC402772) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2019 |
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2019 | 2018 |
(Restated) |
Notes | £ | £ | £ | £ |
LOANS AND OTHER DEBTS DUE TO
MEMBERS |
7 |
196,124 |
79,950 |
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MEMBERS' OTHER INTERESTS |
Capital accounts | 9,037,364 | 2,877,460 |
9,233,488 | 2,957,410 |
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TOTAL MEMBERS' INTERESTS |
Loans and other debts due to members | 7 | 196,124 | 79,950 |
Members' other interests | 9,037,364 | 2,877,460 |
9,233,488 | 2,957,410 |
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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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FORMATIONS NO 3 LLP (REGISTERED NUMBER: OC402772) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Formations No 3 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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SIGNIFICANT JUDGEMENTS AND ESTIMATES |
In preparing the financial statements, the members are required to make estimates and judgements about the |
carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are |
based on historical experience and other factors that are considered by the members to be relevant. Revision to |
accounting estimates are recognised in the period in which the estimate is revised. |
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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 LLP only has financial assets and financial liabilities of a kind that qualifies as basic financial instruments |
like trade and other accounts receivable and payable, loans from banks and other third parties. |
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Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized |
in profit or loss. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective |
interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is |
the current effective interest rate determined under the contract. |
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For financial assets measured at cost less impairment, the impairment loss is measured as the difference between |
an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company |
would receive for the asset if it were to be sold at the reporting date. |
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Financial assets and liabilities are offset and the net amount reported in the statement of financial position when |
there is an enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
FORMATIONS NO 3 LLP (REGISTERED NUMBER: OC402772) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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3. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 April 2018 |
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Disposals | ( |
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At 31 March 2019 |
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Net book value |
At 31 March 2019 |
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At 31 March 2018 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
(Restated) |
£ | £ |
Trade debtors |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
(Restated) |
£ | £ |
Trade creditors |
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Other creditors |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
(Restated) |
£ | £ |
Other creditors |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Mortgage Loan |
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FORMATIONS NO 3 LLP (REGISTERED NUMBER: OC402772) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
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7. | LOANS AND OTHER DEBTS DUE TO MEMBERS |
2019 | 2018 |
(Restated) |
£ | £ |
Amounts owed to members in respect of profits | 196,124 | 79,950 |
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Falling due within one year | 196,124 | 79,950 |