Flintstone Estates LLP - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: OC316261 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2020

for

Flintstone Estates LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

P I H Pressland

J E Pressland

Ms G Martin

REGISTERED OFFICE:

14 Church Street

Whitchurch

Basingstoke

Hampshire

RG28 7AB

REGISTERED NUMBER:

OC316261 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

4

64,059

76,545

Investment property

5

935,337

935,337

999,396

1,011,882

CURRENT ASSETS

Stocks

-

1,038,970

Debtors

6

685,135

292,245

Cash at bank

412

232

685,547

1,331,447

CREDITORS

Amounts falling due within one year

7

881,754

801,554

NET CURRENT (LIABILITIES)/ASSETS

(196,207

)

529,893

TOTAL ASSETS LESS CURRENT LIABILITIES

803,189

1,541,775

CREDITORS

Amounts falling due after more than one year

8

762,753

1,541,775

NET ASSETS ATTRIBUTABLE TO MEMBERS

40,436

-

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

40,436

-

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

40,436

-

Amounts due from members

6

(656,955

)

(263,730

)

(616,519

)

(263,730

)

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 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 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 28 January 2021 and were signed by:

P I H Pressland - Designated member

1.	STATUTORY INFORMATION

Flintstone 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

-

25% on reducing balance

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.

Stocks

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

moving items.

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.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2019

and 31 March 2020

26,600

144,506

171,106

DEPRECIATION

At 1 April 2019

-

94,561

94,561

Charge for year

-

12,486

12,486

At 31 March 2020

-

107,047

107,047

NET BOOK VALUE

At 31 March 2020

26,600

37,459

64,059

At 31 March 2019

26,600

49,945

76,545

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

935,337

NET BOOK VALUE

At 31 March 2020

935,337

At 31 March 2019

935,337

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

685,135

292,245

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

18,620

14,524

Taxation and social security

3,234

(10,870

)

Other creditors

859,900

797,900

881,754

801,554

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

750,753

1,513,775

Hire purchase contracts

12,000

28,000

762,753

1,541,775

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

All other creditors take priority over the debts due to members.