Norfolk Lodge Poole LLP
Norfolk Lodge Poole LLP
Registered number: OC317911
Unaudited Financial Statements
For The Year Ended 31 March 2019
Andrew Lillingston Limited
13 Hurlingham Studios
Ranelagh Gardens
London
SW6 3PA
Norfolk Lodge Poole LLP
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Norfolk Lodge Poole LLP
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
OC317911
For the year ending 31 March 2019 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLP's subject to the small LLPs regime.)
| 2019 | 2018 as restated |
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|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 2 |
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| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 5 |
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| NET ASSETS ATTRIBUTABLE TO MEMBERS |
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| REPRESENTED BY: | |||||
| Loans and other debts due to members within one year | 947,186 | 598,639 | |||
| Equity | |||||
| Members' other interests | |||||
| Members' capital | 358,502 | 355,502 | |||
| 358,502 | 355,502 | ||||
| 1,305,688 | 954,141 | ||||
| TOTAL MEMBERS' INTEREST | |||||
| Loans and other debts due to members within one year | 947,186 | 598,639 | |||
| Members' other interests | 358,502 | 355,502 | |||
| 1,305,688 | 954,141 | ||||
Page 1
Norfolk Lodge Poole LLP
Balance Sheet (continued)
As at
31 March 2019
Member's responsibilities:
-
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. - The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Norfolk Lodge Poole LLP
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in January 2017 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.
Tangible Assets
The analysis of the cost or valuation of the above assets is as follows:
| Investment Properties | Plant & Machinery | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at |
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| Additions | - |
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| Revaluation | 414,365 | - |
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| As at |
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| Depreciation | |||
| As at |
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| Provided during the period | - |
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| As at |
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| Net Book Value | |||
| As at |
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Page 3
Norfolk Lodge Poole LLP
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
| Investment Properties | Plant & Machinery | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at |
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| At cost | 2,237,002 | 4,853 | 2,241,855 |
| At valuation | 762,998 | - | 762,998 |
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3,004,853 | |
| As at |
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| At cost | 2,237,001 | - | 2,237,001 |
| At valuation | 348,634 | - | 348,634 |
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2,585,635 | |
The properties were last valued on 16 December 2019 by the members on an open market basis.
3.
Debtors
| 2019 | 2018 as restated |
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| VAT | - |
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4.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 as restated |
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| £ | £ | ||
| Bank loans and overdrafts |
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| VAT |
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| Other creditors |
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| Accruals and deferred income |
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Page 4
Norfolk Lodge Poole LLP
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
5.
Creditors: Amounts Falling Due After More Than One Year
| 2019 | 2018 as restated |
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|---|---|---|---|
| £ | £ | ||
| Bank loans |
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6.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
| 2019 | 2018 as restated |
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|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 1,250,000 | 1,250,000 |
7.
General Information
Norfolk Lodge Poole LLP is a limited liability partnership, incorporated in England & Wales, registered number OC317911 . The Registered Office is Fulham Park House, 1A Chesilton Road, London, SW6 5AA.
Page 5