Barnet O'Brien LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC323689 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2019

FOR

BARNET O'BRIEN LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

F E Barnet

D P O'Brien

K O'Brien

REGISTERED OFFICE:

Suites 3 & 4 Pacific

Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

REGISTERED NUMBER:

OC323689 (England and Wales)

ACCOUNTANTS:

John Kerr - Chartered Accountants

375 Eaton Road

West Derby

Liverpool

Merseyside

L12 2AH

FIXED ASSETS

Investment property

4

237,000

237,000

CURRENT ASSETS

Debtors

5

305

283

Cash at bank

3,748

4,923

4,053

5,206

CREDITORS

Amounts falling due within one year

6

26,805

16,362

NET CURRENT LIABILITIES

(22,752

)

(11,156

)

TOTAL ASSETS LESS CURRENT LIABILITIES

214,248

225,844

CREDITORS

Amounts falling due after more than one year

7

184,860

197,563

NET ASSETS ATTRIBUTABLE TO MEMBERS

29,388

28,281

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

227,060

225,953

MEMBERS' OTHER INTERESTS

Fair value reserve

10

(197,672

)

(197,672

)

29,388

28,281

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

227,060

225,953

Members' other interests

(197,672

)

(197,672

)

29,388

28,281

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 applicable to LLPs subject to the small LLPs regime.

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 10 December 2019 and were signed by:

D P O'Brien - Designated member

1.	STATUTORY INFORMATION

Barnet O'Brien 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 as modified by the revaluation of certain assets.

Investment property

Investment property is included at fair value. Gains and losses are recognised in the income statement and a

transfer of the equivalent gain or loss is made to a fair value reserve.

3.	EMPLOYEE INFORMATION

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 6 April 2018

and 5 April 2019

237,000

NET BOOK VALUE

At 5 April 2019

237,000

At 5 April 2018

237,000

Fair value at 5 April 2019 is represented by:

£

Valuation in 2019

237,000

If investment property had not been revalued it would have been included at the following historical cost:

5.4.19

5.4.18

£

£

Cost

434,672

434,672

Investment property was valued on a fair value basis on 5 April 2019 by the Designated Members .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Other debtors

305

283

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Bank loan

13,064

12,821

Taxation and social security

102

680

Other creditors

13,639

2,861

26,805

16,362

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.19

5.4.18

£

£

Bank loan

184,860

197,563

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

126,260

138,963

8.	SECURED DEBTS

The following secured debts are included within creditors:

5.4.19

5.4.18

£

£

Bank loan

197,924

210,384

The bank loan is secured by a Mortgage Deed over the investment property.

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

Loans and other debts due to members (other than members' capital classified as debt) rank equally with debts

due to other unsecured creditors in a winding up.

10.

RESERVES

Fair

value

reserve

£

At 6 April 2018

and 5 April 2019

(197,672

)