Formartine Renewable Energy LLP - Accounts to registrar (filleted) - small 18.2

Formartine Renewable Energy LLP - Accounts to registrar (filleted) - small 18.2

FORMARTINE RENEWABLE ENERGY LLP - Company Information

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REGISTERED NUMBER: SO303757 (Scotland)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

FORMARTINE RENEWABLE ENERGY LLP
FORMARTINE RENEWABLE ENERGY LLP (REGISTERED NUMBER: SO303757)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020










Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORMARTINE RENEWABLE ENERGY LLP

GENERAL INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2020







DESIGNATED MEMBERS: Cardinghill Renewables Limited
Formartine Partnership Limited





REGISTERED OFFICE: Cloffrickford
Auchnagatt
Ellon
Aberdeenshire
AB41 8YD





REGISTERED NUMBER: SO303757 (Scotland)





ACCOUNTANTS: Bain Henry Reid
51-53 High Street
Turriff
AB53 4EJ
Page 1
FORMARTINE RENEWABLE ENERGY LLP (REGISTERED NUMBER: SO303757)

BALANCE SHEET
31 JANUARY 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1,256,560 1,308,905

CURRENT ASSETS
Debtors 4 87,342 99,178
Cash at bank 43,395 30,535
130,737 129,713
CREDITORS
Amounts falling due within one year 5 120,525 118,894
NET CURRENT ASSETS 10,212 10,819
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,266,772
1,319,724

CREDITORS
Amounts falling due after more than one year 6 904,299 1,093,561
NET ASSETS ATTRIBUTABLE TO
MEMBERS
362,473
226,163

LOANS AND OTHER DEBTS DUE TO
MEMBERS
362,473
226,163

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 362,473 226,163

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 January 2020.

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 2
FORMARTINE RENEWABLE ENERGY LLP (REGISTERED NUMBER: SO303757)

BALANCE SHEET - continued
31 JANUARY 2020


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 and authorised for issue on 31 October 2020 and were signed by:




Cardinghill Renewables Limited - Designated member




Formartine Partnership Limited - Designated member


The notes form part of these financial statements

Page 3
FORMARTINE RENEWABLE ENERGY LLP (REGISTERED NUMBER: SO303757)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2020


1. 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 - 5% on cost

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2. EMPLOYEE INFORMATION

The average number of employees during the year was NIL (2019 - NIL).

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2019
and 31 January 2020 1,468,677
DEPRECIATION
At 1 February 2019 159,772
Charge for year 52,345
At 31 January 2020 212,117
NET BOOK VALUE
At 31 January 2020 1,256,560
At 31 January 2019 1,308,905

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Other debtors - 1,250
VAT - 2,821
Accrued income 85,762 92,989
Prepayments 1,580 2,118
87,342 99,178

Page 4
FORMARTINE RENEWABLE ENERGY LLP (REGISTERED NUMBER: SO303757)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2020


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 114,541 110,851
Trade creditors 426 4,339
VAT 928 -
Accruals 4,630 3,704
120,525 118,894

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2020 2019
£    £   
Bank loans - 1-2 years 498,667 482,220
Bank loans more 5 yr by instal 240,232 371,219
Other loans - 2-5 years 165,400 240,122
904,299 1,093,561

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 240,232 371,219

7. RELATED PARTY DISCLOSURES

The limited liability partnership received a loan from David Smith, a director in the member Cardinghill Renewables Limited
and at the year end, the limited liability partnership was due £161,417 ( 2019 - £240,122). There is no fixed terms of
repayment.

Page 5