Derrydown Estates LLP - LLP accounts 18.2

Derrydown Estates LLP - LLP accounts 18.2

DERRYDOWN ESTATES LLP - Company Information

Print Friendly Version

IRIS Accounts Production v19.3.0.619 OC413162 designated member 1.4.18 31.3.19 31.3.19 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureOC4131622018-03-31OC4131622019-03-31OC4131622018-04-012019-03-31OC4131622017-03-31OC4131622017-04-012018-03-31OC4131622018-03-31OC413162ns15:EnglandWales2018-04-012019-03-31OC413162ns14:PoundSterling2018-04-012019-03-31OC413162ns10:Director12018-04-012019-03-31OC413162ns10:Director22018-04-012019-03-31OC413162ns10:LimitedLiabilityPartnershipLLP2018-04-012019-03-31OC413162ns10:SmallEntities2018-04-012019-03-31OC413162ns10:AuditExemptWithAccountantsReport2018-04-012019-03-31OC413162ns10:SmallCompaniesRegimeForAccounts2018-04-012019-03-31OC413162ns10:LimitedLiabilityPartnershipsSORP2018-04-012019-03-31OC413162ns10:FullAccounts2018-04-012019-03-31OC413162ns10:RegisteredOffice2018-04-012019-03-31OC413162ns5:CurrentFinancialInstruments2019-03-31OC413162ns5:CurrentFinancialInstruments2018-03-31OC413162ns5:PlantMachinery2018-04-012019-03-31OC413162ns5:OwnedAssets2018-04-012019-03-31OC413162ns5:OwnedAssets2017-04-012018-03-31OC413162ns5:PlantMachinery2018-03-31OC413162ns5:PlantMachinery2019-03-31OC413162ns5:PlantMachinery2018-03-31OC413162ns5:CurrentFinancialInstrumentsns5:WithinOneYear2019-03-31OC413162ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-03-31


REGISTERED NUMBER: OC413162 (England and Wales)















REPORT OF THE MEMBERS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

DERRYDOWN ESTATES LLP
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019




Page

General Information 1

Report of the Members 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


DERRYDOWN ESTATES LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2019







DESIGNATED MEMBERS: F Barry-Walsh
P Barry-Walsh





REGISTERED OFFICE: The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG





REGISTERED NUMBER: OC413162 (England and Wales)





ACCOUNTANTS: LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG
Page 1
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)

REPORT OF THE MEMBERS
FOR THE YEAR ENDED 31 MARCH 2019

The members present their report with the financial statements of the LLP for the year ended 31 March 2019.

PRINCIPAL ACTIVITY
The principal activity of the LLP in the year under review was that of the provision of livery services.

DESIGNATED MEMBERS
The designated members during the year under review were:

F Barry-Walsh
P Barry-Walsh

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS
The loss for the year before members' remuneration and profit shares was £28,256 (2018 - £29,719 loss).

MEMBERS' INTERESTS
The members participate fully in the firm's profit, share the risks and subscribe the firms capital. Profits are allocated in
full and there is transparency amongst the members of the total income allocated to each individual. Member's profit
shares comprise a fixed percentage.

An individual member's capital requirement is linked to his share of profit and the financing requirement of the firm.
There is no opportunity for appreciation of the capital subscribed. On retirement, capital is repaid to the members.

The firm's drawings policy allows each member to draw a proportion of their profit in twelve monthly instalments with
the balance of their profits paid after each year end. All payments are made subject to the cash requirements of the
business.

ON BEHALF OF THE MEMBERS:





F Barry-Walsh - Designated member


29 October 2019

Page 2
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2019

2019 2018
Notes £    £   

TURNOVER 26,036 4,312

Cost of sales 34,006 13,268
GROSS LOSS (7,970 ) (8,956 )

Administrative expenses 20,292 20,763
OPERATING LOSS 3 (28,262 ) (29,719 )

Interest receivable and similar income 6 -
LOSS FOR THE FINANCIAL YEAR
BEFORE MEMBERS' REMUNERATION
AND PROFIT SHARES AVAILABLE
FOR DISCRETIONARY DIVISION
AMONG MEMBERS



(28,256



)



(29,719



)

The notes form part of these financial statements

Page 3
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)

BALANCE SHEET
31 MARCH 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 163,287 93,443

CURRENT ASSETS
Stocks - 9,737
Debtors 5 4,955 6,656
Cash at bank 16,004 4,760
20,959 21,153
CREDITORS
Amounts falling due within one year 6 2,783 1,900
NET CURRENT ASSETS 18,176 19,253
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS
181,463
112,696

LOANS AND OTHER DEBTS DUE TO
MEMBERS
7
181,463
112,696

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 7 181,463 112,696
Amounts due from members 5 (4,955 ) (2,801 )
176,508 109,895

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 31 March 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 notes form part of these financial statements

Page 4 continued...
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)

BALANCE SHEET - continued
31 MARCH 2019


The financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The financial statements were approved by the members of the LLP on 28 October 2019 and were signed by:





P Barry-Walsh - Designated member

The notes form part of these financial statements

Page 5
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

1. STATUTORY INFORMATION

Derrydown Estates 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% straight line, 20% on reducing balance, 10% straight line and 5% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

3. OPERATING LOSS

The operating loss is stated after charging:

2019 2018
£    £   
Depreciation - owned assets 15,510 13,120

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2018 109,372
Additions 85,354
At 31 March 2019 194,726
DEPRECIATION
At 1 April 2018 15,929
Charge for year 15,510
At 31 March 2019 31,439
NET BOOK VALUE
At 31 March 2019 163,287
At 31 March 2018 93,443

Page 6 continued...
DERRYDOWN ESTATES LLP (REGISTERED NUMBER: OC413162)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2019

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Other debtors 4,955 6,656

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade creditors 526 -
Taxation and social security 262 -
Other creditors 1,995 1,900
2,783 1,900

7. LOANS AND OTHER DEBTS DUE TO MEMBERS

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 passu with other creditors who are unsecured. There is no protection afforded
to creditors in such an event which is legally enforceable and cannot be revoked solely by a decision of the
members.

There are no restrictions or limitations existing on the ability of the members to reduce the amount of "Members
other interests".

Page 7