Grove Property Investments LLP - Accounts to registrar (filleted)

GROVE PROPERTY INVESTMENTS LLP

Unaudited Financial Statements for the Year Ended 5 April 2019

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mrs J Grove

J D Grove

REGISTERED OFFICE:

14 Bank Street

Lutterworth

Leicestershire

LE17 4AJ

REGISTERED NUMBER:

OC322963 (England and Wales)

ACCOUNTANTS:

Haslehursts Limited

88 Hill Village Road

Sutton Coldfield

West Midlands

B75 5BE

FIXED ASSETS

Investment property

5

875,000

CURRENT ASSETS

Debtors

6

4,708

4,733

Cash at bank

8,182

16,590

12,890

21,323

CREDITORS

Amounts falling due within one year

7

(37,007

)

(37,620

)

NET CURRENT LIABILITIES

(24,117

)

(16,297

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

850,883

858,703

CREDITORS

Amounts falling due after more than one
year

8

(46,594

)

(81,250

)

NET ASSETS ATTRIBUTABLE TO
MEMBERS

804,289

777,453

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

735,477

708,641

MEMBERS' OTHER INTERESTS

Other reserves

11

68,812

804,289

777,453

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

735,477

708,641

Members' other interests

68,812

804,289

777,453

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 5 April 2019.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 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 small LLPs.

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 on 6 August 2019 and were signed by:

J D Grove - Designated member

1.	STATUTORY INFORMATION

Grove Property Investments LLP is registered in England and Wales. The LLP's registered number

and registered office address can be found on the General Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the total invoice value, excluding value added tax, of rent received during the

year.

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.

4.	EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2018 - 2 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2018

and 5 April 2019

875,000

NET BOOK VALUE

At 5 April 2019

875,000

At 5 April 2018

875,000

Fair value at 5 April 2019 is represented by:

£

Valuation in 2014

806,188

Valuation in 2017

68,812

875,000

The investment properties were valued on an open market basis on 8 April 2016 by CP Bigwood Chartered Surveyors

.

In the opinion of the members there has been no material change in the fair value of the investment

properties for the year ended 5 April 2019.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Other debtors

4,708

4,733

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

Bank loans and overdrafts

32,500

Taxation and social security

2,460

2,500

Other creditors

2,047

2,620

37,007

37,620

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2019

2018

£

Bank loans

46,594

81,250

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

Bank loans

79,094

113,750

The bank loan is secured over the properties concerned.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2019

2018

£

Loans from members

642,522

Amounts owed to members in respect of profits

92,955

66,119

735,477

708,641

Falling due within one year

92,955

66,119

Falling due after more than one year

642,522

735,477

708,641

In the event of winding up, amounts in 'Loans and other debts due to members' (other than members'

capital classified as debt) would rank pari pasu with other unsecured creditors.

There are no such restrictions or limitations existing on the ability of the members to reduce the

amount of 'Members' other interests.

11.

RESERVES

Other

reserves

£

At 6 April 2018

68,812

At 5 April 2019

68,812

Grove Property Investments LLP - Accounts to registrar (filleted) - small 18.2

Grove Property Investments LLP - Accounts to registrar (filleted) - small 18.2